Contravisory Investment Management Inc. Acquires Shares of 3,810 Revvity, Inc. (NYSE:RVTY)

Contravisory Investment Management Inc. bought a new position in Revvity, Inc. (NYSE:RVTY) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,810 shares of the company’s stock, valued at approximately $487,000.

Other institutional investors have also made changes to their positions in the company. 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 worth $594,769,000 after acquiring an additional 210,100 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Revvity by 18.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,126,271 shares of the company’s stock worth $223,258,000 after buying an additional 332,632 shares in the last quarter. EdgePoint Investment Group Inc. bought a new stake in shares of Revvity during the second quarter valued at approximately $209,221,000. Dimensional Fund Advisors LP increased its holdings in Revvity by 5.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,149,122 shares of the company’s stock valued at $120,506,000 after buying an additional 57,656 shares during the period. Finally, Ceredex Value Advisors LLC increased its stake in Revvity by 2.2% in the second quarter. Ceredex Value Advisors LLC now owns 1,094,938 shares of the company’s stock valued at $114,815,000 after acquiring an additional 23,318 shares during the period. 86.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on RVTY. TD Cowen upped their target price on shares of Revvity from $130.00 to $141.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. upped their price objective on shares of Revvity from $105.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Leerink Partnrs upgraded shares of Revvity to a “strong-buy” rating in a research note on Monday, July 8th. Citigroup boosted their target price on Revvity from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Finally, Wells Fargo & Company initiated coverage on Revvity in a report on Tuesday, August 27th. They set an “equal weight” rating and a $130.00 price target for the company. Eight analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $125.53.

Insider Transactions at Revvity

In other Revvity news, insider Tajinder S. Vohra sold 2,153 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $122.09, for a total value of $262,859.77. Following the sale, the insider now owns 23,960 shares in the company, valued at $2,925,276.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Revvity news, insider Tajinder S. Vohra sold 2,153 shares of Revvity stock in a transaction on Monday, October 7th. The shares were sold at an average price of $122.09, for a total transaction of $262,859.77. Following the completion of the transaction, the insider now directly owns 23,960 shares of the company’s stock, valued at $2,925,276.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Tajinder S. Vohra sold 2,154 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total transaction of $262,206.42. Following the completion of the transaction, the insider now directly owns 19,652 shares in the company, valued at $2,392,237.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 7,807 shares of company stock worth $937,576 in the last ninety days. Insiders own 0.60% of the company’s stock.

Revvity Trading Down 1.1 %

RVTY opened at $120.23 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.98 and a current ratio of 2.27. Revvity, Inc. has a twelve month low of $79.50 and a twelve month high of $128.15. The firm’s fifty day moving average is $121.49 and its two-hundred day moving average is $112.21. The firm has a market cap of $14.83 billion, a PE ratio of 87.12, a price-to-earnings-growth ratio of 3.35 and a beta of 1.05.

Revvity (NYSE:RVTY) last announced its earnings results on Monday, July 29th. The company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10. Revvity had a return on equity of 7.34% and a net margin of 6.26%. The business had revenue of $691.70 million for the quarter, compared to analyst estimates of $690.33 million. During the same quarter last year, the firm earned $1.21 EPS. Revvity’s revenue for the quarter was down 2.5% compared to the same quarter last year. Equities research analysts anticipate that Revvity, Inc. will post 4.75 EPS for the current year.

Revvity Announces Dividend

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

Revvity Company 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.