Nisa Investment Advisors LLC Grows Stake in Revvity, Inc. (NYSE:RVTY)

Nisa Investment Advisors LLC increased its holdings in Revvity, Inc. (NYSE:RVTY) by 0.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,809 shares of the company’s stock after purchasing an additional 629 shares during the period. Nisa Investment Advisors LLC owned 0.06% of Revvity worth $8,264,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RVTY. Capital Research Global Investors purchased a new stake in shares of Revvity in the fourth quarter worth about $838,080,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Revvity in the fourth quarter worth $188,368,000. Norges Bank bought a new position in Revvity during the fourth quarter valued at $129,483,000. Northern Trust Corp purchased a new position in shares of Revvity in the 4th quarter worth $127,401,000. Finally, Dimensional Fund Advisors LP bought a new stake in shares of Revvity in the 4th quarter worth about $112,037,000. 86.65% of the stock is currently owned by institutional investors.

Revvity Stock Up 0.5 %

Shares of NYSE:RVTY traded up $0.61 on Monday, reaching $120.27. The company had a trading volume of 359,062 shares, compared to its average volume of 865,468. The company has a current ratio of 2.27, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $14.84 billion, a PE ratio of 99.54, a PEG ratio of 2.97 and a beta of 1.05. Revvity, Inc. has a 52-week low of $79.50 and a 52-week high of $128.15. The firm’s 50 day simple moving average is $111.81 and its 200-day simple moving average is $107.78.

Revvity (NYSE:RVTY) last released its quarterly earnings results on Monday, July 29th. The company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.12 by $0.10. The business had revenue of $691.70 million during 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 quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.21 earnings per share. As a group, analysts expect that Revvity, Inc. will post 4.75 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The business also recently announced 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. This represents a $0.28 annualized dividend and a yield of 0.23%. The ex-dividend date of this dividend is Friday, October 18th. Revvity’s dividend payout ratio is presently 23.14%.

Wall Street Analyst Weigh In

RVTY has been the subject of several recent research reports. Leerink Partnrs upgraded Revvity to a “strong-buy” rating in a research report on Monday, July 8th. TD Cowen increased their target price on shares of Revvity from $130.00 to $141.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Jefferies Financial Group lifted their price target on shares of Revvity from $115.00 to $125.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Barclays increased their price objective 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. Finally, SVB Leerink began coverage on Revvity in a research note on Monday, July 8th. They set an “outperform” rating and a $125.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Revvity has a consensus rating of “Moderate Buy” and a consensus target price of $123.81.

Insider Buying and Selling at Revvity

In other news, insider Joel S. Goldberg sold 4,000 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $110.46, for a total transaction of $441,840.00. Following the sale, the insider now directly owns 36,900 shares of the company’s stock, valued at $4,075,974. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Joel S. Goldberg sold 3,500 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $117.86, for a total value of $412,510.00. Following the sale, the insider now owns 33,400 shares in the company, valued at $3,936,524. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joel S. Goldberg sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $110.46, for a total value of $441,840.00. Following the completion of the sale, the insider now owns 36,900 shares in the company, valued at approximately $4,075,974. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by company insiders.

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.