Independent Franchise Partners LLP Sells 813,672 Shares of Revvity, Inc. (NYSE:RVTY)

Independent Franchise Partners LLP lessened its position in shares of Revvity, Inc. (NYSE:RVTY) by 43.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,067,353 shares of the company’s stock after selling 813,672 shares during the quarter. Revvity comprises 1.0% of Independent Franchise Partners LLP’s portfolio, making the stock its 21st biggest holding. Independent Franchise Partners LLP owned approximately 0.87% of Revvity worth $111,923,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in RVTY. Rothschild Investment LLC purchased a new stake in shares of Revvity during the 2nd quarter valued at about $25,000. Logan Capital Management Inc. purchased a new stake in Revvity during the fourth quarter valued at approximately $37,000. Fairfield Financial Advisors LTD bought a new stake in shares of Revvity in the 2nd quarter valued at approximately $43,000. Family Firm Inc. purchased a new position in shares of Revvity in the 2nd quarter worth approximately $43,000. Finally, Parallel Advisors LLC bought a new position in shares of Revvity during the 4th quarter valued at approximately $47,000. Institutional investors own 86.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on RVTY shares. Wells Fargo & Company initiated coverage on Revvity in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 price target for the company. Jefferies Financial Group lifted their price target on shares of Revvity from $115.00 to $125.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. increased their price objective on shares of Revvity from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. TD Cowen boosted their target price on Revvity from $130.00 to $141.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Finally, Barclays increased their price target on Revvity from $115.00 to $125.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $126.00.

Insider Transactions at Revvity

In related news, insider Joel S. Goldberg sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $117.86, for a total transaction 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 filing with the SEC, which is available through the SEC website. Corporate insiders own 0.60% of the company’s stock.

Revvity Stock Performance

RVTY stock opened at $122.89 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.98. Revvity, Inc. has a 1-year low of $79.50 and a 1-year high of $128.15. The business has a 50-day moving average price of $119.06 and a 200 day moving average price of $110.60. The company has a market capitalization of $15.16 billion, a P/E ratio of 101.56, a PEG ratio of 2.87 and a beta of 1.05.

Revvity (NYSE:RVTY) last announced its quarterly earnings results on Monday, July 29th. The company reported $1.22 earnings per share for the quarter, topping the consensus estimate 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 net margin of 6.26% and a return on equity of 7.34%. The company’s revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.21 EPS. As a group, equities research analysts forecast that Revvity, Inc. will post 4.75 EPS for the current fiscal year.

Revvity Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 18th will be issued a $0.07 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.23%. Revvity’s dividend payout ratio is presently 23.14%.

Revvity Company Profile

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.