Contravisory Investment Management Inc. Invests $487,000 in Revvity, Inc. (NYSE:RVTY)

Contravisory Investment Management Inc. purchased a new stake in Revvity, Inc. (NYSE:RVTYFree Report) in the third quarter, HoldingsChannel.com reports. The fund purchased 3,810 shares of the company’s stock, valued at approximately $487,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of RVTY. EdgePoint Investment Group Inc. bought a new stake in Revvity during the second quarter worth $209,221,000. Goldman Sachs Group Inc. acquired a new position in shares of Revvity during the 4th quarter worth $45,453,000. Jane Street Group LLC lifted its position in shares of Revvity by 516.4% during the 1st quarter. Jane Street Group LLC now owns 453,343 shares of the company’s stock worth $47,601,000 after buying an additional 379,802 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Revvity by 18.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,126,271 shares of the company’s stock valued at $223,258,000 after buying an additional 332,632 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in Revvity by 3.9% in the first quarter. Janus Henderson Group PLC now owns 5,664,528 shares of the company’s stock valued at $594,769,000 after acquiring an additional 210,100 shares during the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

Revvity Price Performance

Shares of RVTY opened at $120.23 on Friday. The business has a 50-day moving average of $121.49 and a 200-day moving average of $112.21. 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 company has a market capitalization of $14.83 billion, a price-to-earnings ratio of 87.12, a price-to-earnings-growth ratio of 3.35 and a beta of 1.05. Revvity, Inc. has a 1 year low of $79.50 and a 1 year high of $128.15.

Revvity (NYSE:RVTYGet Free Report) last issued its quarterly 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. Revvity had a net margin of 6.26% and a return on equity of 7.34%. The firm had revenue of $691.70 million for the quarter, compared to the consensus estimate of $690.33 million. During the same quarter in the previous year, the company earned $1.21 EPS. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. As a group, equities research analysts anticipate that Revvity, Inc. will post 4.75 earnings per share for the current year.

Revvity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 18th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, October 18th. This represents a $0.28 dividend on an annualized basis and a yield of 0.23%. Revvity’s dividend payout ratio (DPR) is currently 20.29%.

Insiders Place Their Bets

In related 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 transaction of $412,510.00. Following the transaction, the insider now owns 33,400 shares in the company, valued at $3,936,524. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Revvity news, insider Tajinder S. Vohra sold 2,154 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total transaction of $262,206.42. Following the transaction, the insider now owns 19,652 shares in the company, valued at approximately $2,392,237.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Joel S. Goldberg sold 3,500 shares of Revvity stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $117.86, for a total transaction of $412,510.00. Following the transaction, the insider now owns 33,400 shares of the company’s stock, valued at $3,936,524. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,807 shares of company stock worth $937,576. Company insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on RVTY shares. Leerink Partners assumed coverage on shares of Revvity in a report on Monday, July 8th. They issued an “outperform” rating and a $125.00 target price for the company. Leerink Partnrs upgraded shares of Revvity to a “strong-buy” rating in a research report on Monday, July 8th. TD Cowen boosted their target price on shares of Revvity from $130.00 to $141.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Bank of America increased their price target on Revvity from $118.00 to $127.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Finally, JPMorgan Chase & Co. raised their price objective on Revvity from $105.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Eight 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 company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $125.53.

Check Out Our Latest Stock Analysis on RVTY

About Revvity

(Free Report)

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.

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Institutional Ownership by Quarter for Revvity (NYSE:RVTY)

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