Revvity, Inc. (NYSE:RVTY) Stock Holdings Lowered by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd trimmed its holdings in shares of Revvity, Inc. (NYSE:RVTY) by 5.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,875 shares of the company’s stock after selling 520 shares during the period. Gulf International Bank UK Ltd’s holdings in Revvity were worth $1,261,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. EdgePoint Investment Group Inc. purchased a new position in Revvity in the 2nd quarter worth about $209,221,000. Jane Street Group LLC raised its holdings in shares of Revvity by 516.4% during the first quarter. Jane Street Group LLC now owns 453,343 shares of the company’s stock valued at $47,601,000 after acquiring an additional 379,802 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Revvity by 18.5% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,126,271 shares of the company’s stock valued at $223,258,000 after acquiring an additional 332,632 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Revvity by 3.9% in the 1st quarter. Janus Henderson Group PLC now owns 5,664,528 shares of the company’s stock valued at $594,769,000 after acquiring an additional 210,100 shares in the last quarter. Finally, Magnetar Financial LLC boosted its stake in Revvity by 441.3% in the 1st quarter. Magnetar Financial LLC now owns 136,371 shares of the company’s stock worth $14,319,000 after purchasing an additional 111,178 shares during the period. Institutional investors and hedge funds own 86.65% of the company’s stock.

Revvity Trading Down 1.2 %

Shares of NYSE:RVTY opened at $122.48 on Friday. The company has a current ratio of 3.56, a quick ratio of 1.98 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $15.11 billion, a PE ratio of 59.17, a P/E/G ratio of 3.44 and a beta of 1.05. Revvity, Inc. has a 1 year low of $82.17 and a 1 year high of $129.50. The firm has a fifty day moving average price of $121.64 and a 200 day moving average price of $114.76.

Revvity (NYSE:RVTY) last released its quarterly earnings results on Monday, November 4th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.15. Revvity had a return on equity of 7.42% and a net margin of 9.34%. The company had revenue of $684.10 million during the quarter, compared to the consensus estimate of $679.66 million. During the same quarter in the prior year, the company posted $1.18 EPS. The firm’s revenue was up 2.1% on a year-over-year basis. Analysts expect that Revvity, Inc. will post 4.75 EPS for the current fiscal year.

Revvity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date of this dividend is Friday, January 17th. Revvity’s dividend payout ratio is 13.53%.

Revvity announced that its board has initiated a stock repurchase program on Monday, November 4th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 6.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Robert W. Baird boosted their target price on shares of Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a research note on Tuesday. Raymond James increased their price objective on Revvity from $144.00 to $146.00 and gave the stock an “outperform” rating in a research note on Tuesday. Bank of America lifted their target price on Revvity from $118.00 to $127.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. increased their price target on shares of Revvity from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Finally, Jefferies Financial Group boosted their price objective on shares of Revvity from $115.00 to $125.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.07.

Insider Transactions at Revvity

In related news, insider Tajinder S. Vohra sold 2,153 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $122.09, for a total value of $262,859.77. Following the transaction, the insider now directly owns 23,960 shares in the company, valued at approximately $2,925,276.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Tajinder S. Vohra sold 2,154 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $121.73, for a total transaction of $262,206.42. Following the completion of the transaction, the insider now directly owns 19,652 shares in the company, valued at $2,392,237.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tajinder S. Vohra sold 2,153 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $122.09, for a total value of $262,859.77. Following the completion of the sale, the insider now directly owns 23,960 shares of the company’s stock, valued at $2,925,276.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is owned by corporate insiders.

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.