Revvity Inc. $RVTY Stock Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lowered its stake in shares of Revvity Inc. (NYSE:RVTY) by 29.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,146,886 shares of the company’s stock after selling 484,457 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Revvity were worth $175,344,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of RVTY. Heritage Family Offices LLP bought a new position in Revvity during the 3rd quarter valued at $37,000. Westside Investment Management Inc. bought a new stake in shares of Revvity in the 3rd quarter worth $2,359,000. Kestra Advisory Services LLC grew its stake in shares of Revvity by 3.4% in the 3rd quarter. Kestra Advisory Services LLC now owns 10,602 shares of the company’s stock worth $1,621,000 after acquiring an additional 352 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Revvity by 3.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 11,491 shares of the company’s stock worth $1,757,000 after acquiring an additional 365 shares in the last quarter. Finally, Chicago Partners Investment Group LLC raised its holdings in shares of Revvity by 6.8% in the third quarter. Chicago Partners Investment Group LLC now owns 3,922 shares of the company’s stock valued at $623,000 after purchasing an additional 251 shares during the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on RVTY shares. TD Cowen raised their price target on shares of Revvity from $175.00 to $185.00 and gave the company a “buy” rating in a research report on Wednesday, November 4th. Barclays boosted their price target on shares of Revvity from $160.00 to $175.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 4th. Cfra raised shares of Revvity from a “hold” rating to a “buy” rating in a research report on Wednesday, November 4th. Evercore reissued an “outperform” rating on shares of Revvity in a research report on Wednesday, August 5th. Finally, Bank of America reissued a “neutral” rating on shares of Revvity in a research report on Wednesday. Six analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $133.86.

Insider Activity at Revvity

In other Revvity news, insider Maxwell Krakowiak sold 1,631 shares of the stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $144.53, for a total value of $235,728.43. Following the sale, the insider directly owned 14,781 shares in the company, valued at $2,136,297.93. This represents a 9.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Tajinder S. Vohra sold 7,330 shares of the stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $140.88, for a total transaction of $1,032,650.40. Following the completion of the sale, the insider owned 6,635 shares in the company, valued at $934,738.80. This represents a 52.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 9,045 shares of company stock valued at $1,281,439. 0.85% of the stock is owned by corporate insiders.

Revvity Price Performance

NYSE RVTY opened at $155.32 on Monday. The firm’s 50-day simple moving average is $147.60 and its two-hundred day simple moving average is $113.25. The company has a market cap of $17.33 billion, a PE ratio of 68.73, a price-to-earnings-growth ratio of 2.72 and a beta of 1.08. Revvity Inc. has a 52 week low of $81.22 and a 52 week high of $171.74. The company has a quick ratio of 2.10, a current ratio of 2.65 and a debt-to-equity ratio of 0.36.

Revvity (NYSE:RVTY) last released its quarterly earnings data on Tuesday, November 3rd. The company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.08. Revvity had a net margin of 8.61% and a return on equity of 8.64%. The business had revenue of $728.90 million during the quarter, compared to analyst estimates of $694.73 million. During the same period in the previous year, the business earned $1.18 EPS. Revvity’s revenue was up 4.3% compared to the same quarter last year. Research analysts predict that Revvity Inc. will post 5.42 earnings per share for the current year.

Revvity Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 12th. Stockholders of record on Friday, January 22nd will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Friday, January 22nd. Revvity’s dividend payout ratio (DPR) is 12.39%.

Revvity Profile

Revvity, Inc develops and supplies products and services for life sciences research and clinical diagnostics. Its offerings include instruments, reagents, software and related services used by pharmaceutical and biotechnology companies, academic and government research institutions, hospitals and clinical laboratories.

The company’s work spans areas such as drug discovery and development, genetic testing, newborn screening and other diagnostic applications. Its technologies help researchers and healthcare providers analyze biological samples and generate information used in research and patient care.

Revvity adopted its current name in 2023, following a restructuring of PerkinElmer that left the life sciences and diagnostics businesses under the Revvity name.