Revvity, Inc. (NYSE:RVTY) Sees Large Increase in Short Interest

Revvity, Inc. (NYSE:RVTY) saw a significant increase in short interest in April. As of April 15th, there was short interest totalling 3,600,000 shares, an increase of 33.8% from the March 31st total of 2,690,000 shares. Approximately 2.9% of the company’s shares are short sold. Based on an average trading volume of 888,500 shares, the short-interest ratio is currently 4.1 days.

Insider Buying and Selling

In other Revvity news, insider Prahlad R. Singh sold 21,217 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $104.28, for a total transaction of $2,212,508.76. Following the completion of the transaction, the insider now owns 92,801 shares in the company, valued at $9,677,288.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of RVTY. Vanguard Group Inc. acquired a new position in Revvity in the third quarter valued at $1,579,487,000. Capital Research Global Investors purchased a new stake in shares of Revvity in the fourth quarter valued at about $838,080,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Revvity in the fourth quarter valued at about $188,368,000. Norges Bank purchased a new stake in shares of Revvity in the fourth quarter valued at about $129,483,000. Finally, Northern Trust Corp purchased a new stake in shares of Revvity in the fourth quarter valued at about $127,401,000. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Revvity Stock Down 2.4 %

NYSE:RVTY traded down $2.55 during midday trading on Tuesday, hitting $102.47. 902,519 shares of the company were exchanged, compared to its average volume of 850,532. The company has a fifty day simple moving average of $104.71 and a 200 day simple moving average of $101.34. Revvity has a fifty-two week low of $79.50 and a fifty-two week high of $132.54. The company has a current ratio of 2.07, a quick ratio of 1.77 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $12.66 billion, a PE ratio of 18.83, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09.

Revvity (NYSE:RVTY) last announced its quarterly earnings results on Monday, April 29th. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.94 by $0.04. The firm had revenue of $649.90 million for the quarter, compared to analyst estimates of $646.83 million. Revvity had a net margin of 25.20% and a return on equity of 7.41%. Revvity’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period last year, the business earned $1.01 EPS. As a group, equities analysts anticipate that Revvity will post 4.65 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 19th will be paid a $0.07 dividend. The ex-dividend date is Friday, July 19th. This represents a $0.28 dividend on an annualized basis and a yield of 0.27%. Revvity’s dividend payout ratio is presently 5.09%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on RVTY shares. Stifel Nicolaus upped their price target on Revvity from $95.00 to $110.00 and gave the stock a “hold” rating in a research report on Friday, February 2nd. Raymond James upped their price target on shares of Revvity from $106.00 to $127.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. TD Cowen upped their price target on shares of Revvity from $123.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday. Evercore ISI raised shares of Revvity from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $88.00 to $125.00 in a research note on Thursday, January 4th. Finally, KeyCorp upped their price target on shares of Revvity from $110.00 to $126.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Revvity currently has an average rating of “Moderate Buy” and a consensus price target of $118.17.

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.