Simplify Asset Management Inc. Lowers Holdings in Revvity, Inc. (NYSE:RVTY)

Simplify Asset Management Inc. lowered its stake in shares of Revvity, Inc. (NYSE:RVTY) by 34.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,920 shares of the company’s stock after selling 8,383 shares during the quarter. Simplify Asset Management Inc.’s holdings in Revvity were worth $1,777,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Empowered Funds LLC acquired a new position in Revvity during the third quarter worth approximately $227,000. Natixis Advisors LLC increased its holdings in shares of Revvity by 17.9% during the 3rd quarter. Natixis Advisors LLC now owns 12,499 shares of the company’s stock worth $1,597,000 after buying an additional 1,901 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Revvity in the 3rd quarter worth $126,000. Pathstone Holdings LLC boosted its holdings in Revvity by 70.0% in the third quarter. Pathstone Holdings LLC now owns 21,358 shares of the company’s stock valued at $2,728,000 after acquiring an additional 8,791 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Revvity during the third quarter valued at about $393,000. 86.65% of the stock is owned by institutional investors and hedge funds.

Revvity Price Performance

RVTY stock opened at $107.18 on Friday. The stock’s 50 day moving average is $116.44 and its two-hundred day moving average is $117.54. Revvity, Inc. has a 52-week low of $97.32 and a 52-week high of $129.50. The company has a market capitalization of $12.88 billion, a PE ratio of 48.50, a P/E/G ratio of 3.82 and a beta of 1.06. The company has a quick ratio of 3.03, a current ratio of 3.60 and a debt-to-equity ratio of 0.41.

Revvity (NYSE:RVTY) last issued its quarterly earnings results on Friday, January 31st. The company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 earnings per share. Analysts predict that Revvity, Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 18th will be given a dividend of $0.07 per share. The ex-dividend date is Thursday, April 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.26%. Revvity’s payout ratio is 12.67%.

Insider Buying and Selling

In related news, insider Joel S. Goldberg sold 15,170 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $126.73, for a total transaction of $1,922,494.10. Following the transaction, the insider now directly owns 33,400 shares in the company, valued at $4,232,782. This trade represents a 31.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Tajinder S. Vohra sold 5,492 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total transaction of $641,520.52. Following the sale, the insider now owns 19,652 shares of the company’s stock, valued at approximately $2,295,550.12. The trade was 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.

Analyst Ratings Changes

A number of research firms have recently commented on RVTY. KeyCorp raised their price objective on Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Sanford C. Bernstein cut shares of Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price target on the stock. in a research report on Friday, January 10th. Raymond James reissued an “outperform” rating and issued a $145.00 target price (up previously from $140.00) on shares of Revvity in a research note on Monday, February 3rd. Barclays upped their price target on shares of Revvity from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Bank of America raised Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price objective on the stock in a research report on Friday, December 13th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $136.25.

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.