Keene & Associates Inc. Cuts Position in Revvity, Inc. (NYSE:RVTY)

by · The Cerbat Gem

Keene & Associates Inc. reduced its position in shares of Revvity, Inc. (NYSE:RVTY – Free Report) by 5.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,283 shares of the company’s stock after selling 270 shares during the period. Keene & Associates Inc.’s holdings in Revvity were worth $547,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. CX Institutional lifted its stake in Revvity by 1.1% during the 3rd quarter. CX Institutional now owns 7,984 shares of the company’s stock worth $1,020,000 after acquiring an additional 86 shares in the last quarter. Garrison Asset Management LLC boosted its stake in shares of Revvity by 0.5% in the second quarter. Garrison Asset Management LLC now owns 21,328 shares of the company’s stock valued at $2,236,000 after purchasing an additional 103 shares during the period. TriaGen Wealth Management LLC boosted its stake in shares of Revvity by 2.3% in the second quarter. TriaGen Wealth Management LLC now owns 4,767 shares of the company’s stock valued at $500,000 after purchasing an additional 107 shares during the period. Guinness Asset Management LTD grew its holdings in shares of Revvity by 3.3% in the second quarter. Guinness Asset Management LTD now owns 3,587 shares of the company’s stock valued at $376,000 after purchasing an additional 116 shares in the last quarter. Finally, Inspire Investing LLC increased its stake in Revvity by 2.9% during the 1st quarter. Inspire Investing LLC now owns 4,190 shares of the company’s stock worth $440,000 after buying an additional 117 shares during the period. 86.65% of the stock is owned by institutional investors and hedge funds.

Revvity Stock Performance

Shares of Revvity stock opened at $118.50 on Thursday. The firm has a market capitalization of $14.62 billion, a P/E ratio of 97.93, a P/E/G ratio of 3.35 and a beta of 1.05. The company has a quick ratio of 1.98, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. Revvity, Inc. has a 52 week low of $79.50 and a 52 week high of $128.15. The firm’s 50 day moving average is $121.66 and its two-hundred day moving average is $113.41.

Revvity (NYSE:RVTY – Get Free Report) last posted its earnings results on Monday, July 29th. The company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10. Revvity had a net margin of 6.26% and a return on equity of 7.34%. The firm had revenue of $691.70 million for the quarter, compared to the consensus estimate of $690.33 million. During the same period last year, the firm posted $1.21 EPS. The company’s revenue was down 2.5% on a year-over-year basis. Research analysts forecast that Revvity, Inc. will post 4.75 EPS for the current fiscal year.

Insider Transactions at Revvity

In related news, insider Tajinder S. Vohra sold 2,154 shares of the company’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $121.73, for a total value of $262,206.42. Following the completion of the sale, the insider now directly owns 19,652 shares of the company’s stock, valued at $2,392,237.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Tajinder S. Vohra sold 2,154 shares of Revvity stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total value of $262,206.42. Following the transaction, the insider now directly owns 19,652 shares of the company’s stock, valued at $2,392,237.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Tajinder S. Vohra sold 2,153 shares of the company’s 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 sale, the insider now owns 23,960 shares of the company’s stock, valued at approximately $2,925,276.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,807 shares of company stock worth $937,576. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on RVTY shares. JPMorgan Chase & Co. raised their price target on shares of Revvity from $105.00 to $120.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. TD Cowen lifted their target price on Revvity from $130.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Wells Fargo & Company assumed coverage on Revvity in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $130.00 target price for the company. Leerink Partners increased their price target on Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Barclays upgraded Revvity from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $125.00 to $140.00 in a research note on Tuesday, October 15th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Revvity currently has an average rating of “Moderate Buy” and an average price target of $127.20.

Check Out Our Latest Stock Analysis on Revvity

Revvity Company Profile

(Free Report)

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.

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