RGM Capital LLC Boosts Position in Revvity, Inc. (NYSE:RVTY)

RGM Capital LLC raised its stake in Revvity, Inc. (NYSE:RVTY) by 6.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 950,858 shares of the company’s stock after buying an additional 59,994 shares during the period. Revvity comprises 4.0% of RGM Capital LLC’s holdings, making the stock its 13th biggest holding. RGM Capital LLC owned about 0.77% of Revvity worth $99,707,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. purchased a new stake in shares of Revvity in the fourth quarter valued at approximately $3,593,000. Commerce Bank purchased a new stake in shares of Revvity in the 4th quarter worth $1,136,000. UniSuper Management Pty Ltd grew its position in shares of Revvity by 505.2% during the 1st 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. Entropy Technologies LP purchased a new position in shares of Revvity during the first quarter valued at $480,000. Finally, Jane Street Group LLC raised its holdings in shares of Revvity by 516.4% in the first quarter. Jane Street Group LLC now owns 453,343 shares of the company’s stock valued at $47,601,000 after acquiring an additional 379,802 shares in the last quarter. 86.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Joel S. Goldberg sold 3,500 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 33,400 shares in the company, valued at approximately $3,936,524. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.60% of the company’s stock.

Revvity Stock Down 2.8 %

RVTY stock opened at $122.89 on Friday. The stock has a market capitalization of $15.16 billion, a PE ratio of 101.56, a price-to-earnings-growth ratio of 2.87 and a beta of 1.05. Revvity, Inc. has a 52 week low of $79.50 and a 52 week 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 50 day moving average of $119.06 and a 200 day moving average of $110.60.

Revvity (NYSE:RVTY) last announced its quarterly earnings data on Monday, July 29th. The company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10. The firm had revenue of $691.70 million for the quarter, compared to analyst estimates of $690.33 million. Revvity had a net margin of 6.26% and a return on equity of 7.34%. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.21 earnings per share. Sell-side analysts forecast that Revvity, Inc. will post 4.75 earnings per share for the current year.

Revvity Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Jefferies Financial Group raised their target price on shares of Revvity from $115.00 to $125.00 and gave the company a “hold” rating in a research report on Monday, July 29th. TD Cowen lifted their price objective on shares of Revvity from $130.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Bank of America upped their target price on Revvity from $118.00 to $127.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Wells Fargo & Company began coverage on Revvity in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 price target on the stock. Finally, JPMorgan Chase & Co. upped their price objective on Revvity from $105.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $126.00.

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.