Amalgamated Bank Reduces Stock Holdings in Revvity, Inc. (NYSE:RVTY)

Amalgamated Bank lowered its position in Revvity, Inc. (NYSE:RVTY) by 2.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,105 shares of the company’s stock after selling 545 shares during the quarter. Amalgamated Bank’s holdings in Revvity were worth $2,633,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Rothschild Investment LLC purchased a new position in shares of Revvity in the second quarter valued at approximately $25,000. Logan Capital Management Inc. purchased a new position in shares of Revvity in the fourth quarter valued at approximately $37,000. Family Firm Inc. purchased a new position in shares of Revvity in the second quarter valued at approximately $43,000. Fairfield Financial Advisors LTD purchased a new position in shares of Revvity in the second quarter valued at approximately $43,000. Finally, Parallel Advisors LLC purchased a new position in shares of Revvity in the fourth quarter valued at approximately $47,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Revvity Stock Performance

Shares of RVTY opened at $124.94 on Wednesday. The company has a current ratio of 2.27, a quick ratio of 1.98 and a debt-to-equity ratio of 0.40. The firm has a market cap of $15.42 billion, a PE ratio of 103.26, a price-to-earnings-growth ratio of 2.87 and a beta of 1.05. The company’s 50 day simple moving average is $119.58 and its 200-day simple moving average is $110.83. Revvity, Inc. has a 12-month low of $79.50 and a 12-month high of $128.15.

Revvity (NYSE:RVTY) last announced 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 business 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 company’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period last year, the firm posted $1.21 earnings per share. As a group, equities analysts predict that Revvity, Inc. will post 4.75 EPS for the current year.

Revvity Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Friday, October 18th. This represents a $0.28 annualized dividend and a yield of 0.22%. Revvity’s dividend payout ratio is currently 23.14%.

Insider Buying and Selling at Revvity

In other Revvity 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 transaction, the insider now directly owns 33,400 shares of the company’s stock, valued at approximately $3,936,524. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on RVTY shares. Leerink Partners initiated coverage on shares of Revvity in a research note on Monday, July 8th. They issued an “outperform” rating and a $125.00 price objective for the company. Bank of America raised their target price on shares of Revvity from $118.00 to $127.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Leerink Partnrs raised shares of Revvity to a “strong-buy” rating in a report on Monday, July 8th. JPMorgan Chase & Co. raised their target price on shares of Revvity from $105.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Finally, 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 report on Monday, July 29th. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Revvity has a consensus rating of “Moderate Buy” and a consensus price target of $126.00.

Revvity 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.