Simplify Asset Management Inc. Has $2.70 Million Position in Revvity, Inc. (NYSE:RVTY)

Simplify Asset Management Inc. lessened its holdings in shares of Revvity, Inc. (NYSE:RVTY) by 0.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 25,772 shares of the company’s stock after selling 147 shares during the period. Simplify Asset Management Inc.’s holdings in Revvity were worth $2,702,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. bought a new position in Revvity during the fourth quarter valued at about $3,593,000. Principal Financial Group Inc. acquired a new position in shares of Revvity in the fourth quarter valued at $15,213,000. Commerce Bank bought a new position in Revvity in the fourth quarter worth $1,136,000. UniSuper Management Pty Ltd boosted its stake in Revvity by 505.2% during the first quarter. UniSuper Management Pty Ltd now owns 9,864 shares of the company’s stock worth $1,036,000 after buying an additional 8,234 shares in the last quarter. Finally, Entropy Technologies LP bought a new stake in Revvity in the 1st quarter valued at $480,000. Institutional investors own 86.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RVTY. JPMorgan Chase & Co. raised their price objective on shares of Revvity from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Leerink Partnrs upgraded shares of Revvity to a “strong-buy” rating in a research note on Monday, July 8th. Wells Fargo & Company began coverage on shares of Revvity in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $130.00 target price for the company. Citigroup boosted their price target on shares of Revvity from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, Jefferies Financial Group raised their price objective on shares of Revvity from $115.00 to $125.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Revvity presently has an average rating of “Moderate Buy” and an average price target of $126.00.

Insider Transactions at Revvity

In other news, insider Joel S. Goldberg sold 3,500 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $117.86, for a total value of $412,510.00. Following the sale, the insider now owns 33,400 shares of the company’s stock, valued at $3,936,524. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.60% of the company’s stock.

Revvity Stock Up 1.6 %

Shares of RVTY stock opened at $126.57 on Friday. Revvity, Inc. has a 12-month low of $79.50 and a 12-month high of $128.15. The company has a quick ratio of 1.98, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. The firm has a fifty day moving average of $118.79 and a 200-day moving average of $110.47. The company has a market capitalization of $15.62 billion, a price-to-earnings ratio of 104.60, a P/E/G ratio of 2.87 and a beta of 1.05.

Revvity (NYSE:RVTY) last released its earnings results on Monday, July 29th. The company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.10. The firm had revenue of $691.70 million during the quarter, compared to analysts’ expectations of $690.33 million. Revvity had a return on equity of 7.34% and a net margin of 6.26%. The company’s revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.21 EPS. As a group, equities research analysts predict that Revvity, Inc. will post 4.75 earnings per share for the current fiscal year.

Revvity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 18th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.22%. The ex-dividend date of this dividend is Friday, October 18th. Revvity’s payout ratio is 23.14%.

About Revvity

Revvity, Inc provides health sciences solutions, technologies, and services in the Americas, Europe, and Asia, and internationally. The Life Sciences segment provides instruments, reagents, informatics, software, subscriptions, detection, imaging technologies, warranties, training, and services. Its Diagnostics segment provides instruments, reagents, assay platforms, and software products for the early detection of genetic disorders, such as pregnancy and early childhood, as well as infectious disease testing in the diagnostics market.