Allspring Global Investments Holdings LLC Has $638,000 Position in Revvity, Inc. (NYSE:RVTY)

Allspring Global Investments Holdings LLC lessened its holdings in Revvity, Inc. (NYSE:RVTY) by 3.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,696 shares of the company’s stock after selling 225 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Revvity were worth $638,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Janus Henderson Group PLC raised its position in Revvity by 1.7% in the third quarter. Janus Henderson Group PLC now owns 6,335,302 shares of the company’s stock worth $809,332,000 after purchasing an additional 108,401 shares in the last quarter. State Street Corp raised its position in Revvity by 0.3% in the third quarter. State Street Corp now owns 5,180,169 shares of the company’s stock worth $661,767,000 after purchasing an additional 17,832 shares in the last quarter. Geode Capital Management LLC raised its position in Revvity by 0.9% in the third quarter. Geode Capital Management LLC now owns 2,863,793 shares of the company’s stock worth $364,569,000 after purchasing an additional 25,078 shares in the last quarter. EdgePoint Investment Group Inc. raised its position in Revvity by 34.6% in the third quarter. EdgePoint Investment Group Inc. now owns 2,685,775 shares of the company’s stock worth $343,108,000 after purchasing an additional 690,534 shares in the last quarter. Finally, RGM Capital LLC raised its position in Revvity by 3.2% in the third quarter. RGM Capital LLC now owns 980,858 shares of the company’s stock worth $125,305,000 after purchasing an additional 30,000 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

Insider Activity

In related news, insider Joel S. Goldberg sold 15,170 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $126.73, for a total value of $1,922,494.10. Following the transaction, the insider now owns 33,400 shares in the company, valued at approximately $4,232,782. This represents a 31.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tajinder S. Vohra sold 5,492 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total transaction of $641,520.52. Following the completion of the transaction, the insider now owns 19,652 shares in the company, valued at approximately $2,295,550.12. This trade represents a 21.84 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Revvity Price Performance

RVTY opened at $114.95 on Tuesday. Revvity, Inc. has a one year low of $97.32 and a one year high of $129.50. The stock has a market capitalization of $13.99 billion, a P/E ratio of 52.01, a price-to-earnings-growth ratio of 3.82 and a beta of 1.03. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.60 and a quick ratio of 3.03. The company’s 50 day simple moving average is $116.76 and its 200-day simple moving average is $118.64.

Revvity (NYSE:RVTY) last posted its earnings results on Friday, January 31st. The company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.05. Revvity had a net margin of 9.81% and a return on equity of 7.68%. During the same period last year, the firm earned $1.25 EPS. Sell-side analysts anticipate that Revvity, Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity announced that its Board of Directors has authorized a share buyback program on Monday, November 4th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire up to 6.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Revvity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 18th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date of this dividend is Thursday, April 17th. Revvity’s dividend payout ratio (DPR) is currently 12.67%.

Analysts Set New Price Targets

Several research analysts recently issued reports on RVTY shares. TD Cowen increased their price target on shares of Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Barclays upped their price objective on shares of Revvity from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Robert W. Baird upped their price objective on shares of Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Raymond James reaffirmed an “outperform” rating and set a $145.00 price objective (up from $140.00) on shares of Revvity in a research note on Monday, February 3rd. Finally, KeyCorp upped their price objective on shares of Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $136.25.

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.