Hsbc Holdings PLC Lowers Stock Holdings in Revvity, Inc. (NYSE:RVTY)

Hsbc Holdings PLC lessened its stake in shares of Revvity, Inc. (NYSE:RVTY) by 18.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 180,733 shares of the company’s stock after selling 40,523 shares during the quarter. Hsbc Holdings PLC owned about 0.15% of Revvity worth $18,941,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Vanguard Personalized Indexing Management LLC raised its holdings in Revvity by 21.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,078 shares of the company’s stock worth $1,353,000 after purchasing an additional 2,337 shares in the last quarter. Argent Trust Co raised its stake in shares of Revvity by 12.9% during the 2nd quarter. Argent Trust Co now owns 6,472 shares of the company’s stock worth $679,000 after buying an additional 738 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Revvity by 5.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,149,122 shares of the company’s stock valued at $120,506,000 after buying an additional 57,656 shares during the period. Keene & Associates Inc. boosted its stake in shares of Revvity by 17.5% in the second quarter. Keene & Associates Inc. now owns 4,553 shares of the company’s stock valued at $477,000 after buying an additional 678 shares in the last quarter. Finally, Fairfield Financial Advisors LTD acquired a new position in Revvity during the second quarter worth $43,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Insider Buying and Selling at Revvity

In related news, insider Joel S. Goldberg sold 3,500 shares of the firm’s 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 sale, the insider now directly owns 33,400 shares of the company’s stock, valued at $3,936,524. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Barclays boosted their target price on shares of Revvity from $115.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Jefferies Financial Group increased their target price on shares of Revvity from $115.00 to $125.00 and gave the company a “hold” rating in a report on Monday, July 29th. Wells Fargo & Company started coverage on Revvity in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $130.00 price target on the stock. TD Cowen raised their price objective on Revvity from $130.00 to $141.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Finally, Leerink Partnrs upgraded Revvity to a “strong-buy” rating in a research report on Monday, July 8th. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $126.00.

Revvity Stock Performance

NYSE:RVTY opened at $122.89 on Monday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.98. The firm has a market cap of $15.16 billion, a PE ratio of 101.56, a P/E/G ratio of 2.87 and a beta of 1.05. The firm has a 50 day simple moving average of $119.06 and a 200-day simple moving average of $110.62. Revvity, Inc. has a 1-year low of $79.50 and a 1-year high of $128.15.

Revvity (NYSE:RVTY) last issued its quarterly earnings results on Monday, July 29th. The company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.10. Revvity had a return on equity of 7.34% and a net margin of 6.26%. The company had revenue of $691.70 million for the quarter, compared to analyst estimates of $690.33 million. During the same quarter in the prior year, the company posted $1.21 EPS. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. On average, equities analysts expect that Revvity, Inc. will post 4.75 EPS for the current year.

Revvity Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date 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.