King Luther Capital Management Corp Has $20.99 Million Position in Revvity, Inc. (NYSE:RVTY)

King Luther Capital Management Corp lessened its holdings in Revvity, Inc. (NYSE:RVTY) by 16.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 200,184 shares of the company’s stock after selling 40,101 shares during the quarter. King Luther Capital Management Corp owned approximately 0.16% of Revvity worth $20,991,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in RVTY. Canada Pension Plan Investment Board raised its position in Revvity by 46.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 13,377 shares of the company’s stock worth $1,403,000 after purchasing an additional 4,246 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Revvity during the second quarter worth about $1,352,000. First Eagle Investment Management LLC lifted its stake in shares of Revvity by 8.5% in the second quarter. First Eagle Investment Management LLC now owns 2,565 shares of the company’s stock worth $269,000 after acquiring an additional 200 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in Revvity by 21.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,078 shares of the company’s stock valued at $1,353,000 after acquiring an additional 2,337 shares during the last quarter. Finally, Argent Trust Co increased its position in Revvity by 12.9% during the 2nd quarter. Argent Trust Co now owns 6,472 shares of the company’s stock valued at $679,000 after purchasing an additional 738 shares during the period. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Revvity

In related news, insider Joel S. Goldberg sold 3,500 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $117.86, for a total value of $412,510.00. Following the completion of the sale, the insider now directly owns 33,400 shares of the company’s stock, valued at approximately $3,936,524. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.60% of the stock is owned by insiders.

Revvity Stock Performance

Shares of RVTY stock opened at $122.89 on Friday. 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 fifty day simple moving average of $119.06 and a two-hundred day simple moving average of $110.57. Revvity, Inc. has a 12 month low of $79.50 and a 12 month high of $128.15. The firm 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 (NYSE:RVTY) last posted its earnings results on Monday, July 29th. The company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.12 by $0.10. Revvity had a net margin of 6.26% and a return on equity of 7.34%. The company had revenue of $691.70 million during the quarter, compared to the consensus estimate of $690.33 million. During the same period in the previous year, the firm posted $1.21 earnings per share. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. Analysts forecast that Revvity, Inc. will post 4.75 EPS for the current fiscal year.

Revvity Dividend Announcement

The business also recently announced 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%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on RVTY shares. Wells Fargo & Company initiated coverage on shares of Revvity in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 price target on the stock. Citigroup boosted their target price on shares of Revvity from $135.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Leerink Partnrs upgraded Revvity to a “strong-buy” rating in a report on Monday, July 8th. Barclays boosted their price objective on Revvity from $115.00 to $125.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Finally, TD Cowen raised their target price on Revvity from $130.00 to $141.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Based on data from 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.