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

Pictet Asset Management Holding SA cut its stake in shares of Revvity Inc. (NYSE:RVTY) by 29.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,146,886 shares of the company’s stock after selling 484,457 shares during the period. Pictet Asset Management Holding SA owned about 1.03% of Revvity worth $175,344,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Jupiter Topco LLC acquired a new stake in shares of Revvity during the 2nd quarter valued at $961,017,000. BlackRock Inc. acquired a new position in Revvity in the 2nd quarter worth about $852,070,000. EdgePoint Investment Group Inc. increased its holdings in Revvity by 3.1% in the 1st quarter. EdgePoint Investment Group Inc. now owns 8,800,863 shares of the company’s stock worth $771,044,000 after purchasing an additional 265,204 shares in the last quarter. Janus Henderson Group PLC raised its position in Revvity by 2.3% in the first quarter. Janus Henderson Group PLC now owns 8,348,127 shares of the company’s stock valued at $731,386,000 after purchasing an additional 186,956 shares during the last quarter. Finally, State Street Corp raised its position in Revvity by 0.8% in the second quarter. State Street Corp now owns 4,342,739 shares of the company’s stock valued at $483,173,000 after purchasing an additional 32,426 shares during the last quarter. 86.65% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on RVTY shares. JPMorgan Chase & Co. lifted their price target on Revvity from $155.00 to $160.00 and gave the company a “neutral” rating in a research note on Wednesday, November 4th. Evercore reaffirmed an “outperform” rating on shares of Revvity in a research note on Wednesday, August 5th. William Blair started coverage on Revvity in a research note on Monday, October 5th. They issued an “outperform” rating for the company. Cfra upgraded shares of Revvity from a “hold” rating to a “buy” rating in a report on Wednesday, November 4th. Finally, Bank of America reiterated a “neutral” rating on shares of Revvity in a research report on Wednesday. Six investment analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $133.86.

Revvity Trading Up 0.1%

NYSE:RVTY opened at $155.32 on Monday. The company has a current ratio of 2.65, a quick ratio of 2.10 and a debt-to-equity ratio of 0.36. The firm has a fifty day simple moving average of $147.60 and a two-hundred day simple moving average of $113.25. The stock has a market capitalization of $17.33 billion, a price-to-earnings ratio of 68.73, a PEG ratio of 2.72 and a beta of 1.08. Revvity Inc. has a 12 month low of $81.22 and a 12 month high of $171.74.

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

Revvity Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 12th. Shareholders of record on Friday, January 22nd will be paid 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 of this dividend is Friday, January 22nd. Revvity’s dividend payout ratio (DPR) is 12.39%.

Insiders Place Their Bets

In other news, insider Maxwell Krakowiak sold 1,631 shares of the business’s stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $144.53, for a total transaction of $235,728.43. Following the completion of the sale, the insider directly owned 14,781 shares of the company’s stock, valued at $2,136,297.93. The trade was a 9.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Tajinder S. Vohra sold 7,330 shares of the business’s stock in a transaction dated 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 sale, the insider directly owned 6,635 shares of the company’s stock, valued at approximately $934,738.80. The trade was a 52.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 9,045 shares of company stock worth $1,281,439 over the last ninety days. Insiders own 0.85% of the company’s stock.

About Revvity

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.