American Century Companies Inc. Lowers Position in Revvity, Inc. (NYSE:RVTY)

American Century Companies Inc. decreased its position in Revvity, Inc. (NYSE:RVTY) by 3.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,717 shares of the company’s stock after selling 336 shares during the period. American Century Companies Inc.’s holdings in Revvity were worth $1,124,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Research Global Investors purchased a new stake in shares of Revvity in the fourth quarter valued at about $838,080,000. Janus Henderson Group PLC boosted its holdings in Revvity by 3.9% during the first quarter. Janus Henderson Group PLC now owns 5,664,528 shares of the company’s stock worth $594,769,000 after buying an additional 210,100 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings 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. Northern Trust Corp purchased a new stake in Revvity during the fourth quarter worth about $127,401,000. Finally, Ceredex Value Advisors LLC boosted its holdings in Revvity by 2.2% during the second quarter. Ceredex Value Advisors LLC now owns 1,094,938 shares of the company’s stock worth $114,815,000 after buying an additional 23,318 shares in the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Insider Buying and Selling

In related news, insider Joel S. Goldberg sold 3,500 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 33,400 shares of the company’s stock, valued at $3,936,524. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.60% of the stock is currently owned by company insiders.

Revvity Stock Performance

NYSE:RVTY opened at $127.75 on Tuesday. The firm has a 50 day simple moving average of $120.44 and a 200-day simple moving average of $111.17. 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 firm has a market cap of $15.76 billion, a PE ratio of 105.58, a P/E/G ratio of 2.90 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:RVTY) last posted its quarterly earnings data on Monday, July 29th. The company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates 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 revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.21 earnings per share. On average, equities analysts expect that Revvity, Inc. will post 4.75 EPS for the current year.

Revvity Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors 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 0.22%. The ex-dividend date of this dividend is Friday, October 18th. Revvity’s dividend payout ratio (DPR) is 23.14%.

Wall Street Analyst Weigh In

A number of research firms recently commented on RVTY. Barclays boosted their price objective on shares of Revvity from $115.00 to $125.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. TD Cowen boosted their price objective on shares of Revvity from $130.00 to $141.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Citigroup upped their price target on shares of Revvity from $135.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Bank of America upped their price target on shares of Revvity from $118.00 to $127.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. upped their price target on shares of Revvity from $105.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $125.53.

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.