Commerce Bank Has $1.49 Million Stake in Revvity, Inc. (NYSE:RVTY)

Commerce Bank boosted its stake in shares of Revvity, Inc. (NYSE:RVTY) by 20.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 11,674 shares of the company’s stock after buying an additional 1,994 shares during the quarter. Commerce Bank’s holdings in Revvity were worth $1,491,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in RVTY. CANADA LIFE ASSURANCE Co boosted its position in shares of Revvity by 2.4% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 71,327 shares of the company’s stock valued at $7,489,000 after purchasing an additional 1,640 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Revvity during the 1st quarter worth approximately $48,000. Quadrature Capital Ltd bought a new stake in shares of Revvity in the 1st quarter valued at $1,267,000. Price T Rowe Associates Inc. MD lifted its position in shares of Revvity by 1.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 168,547 shares of the company’s stock valued at $17,698,000 after acquiring an additional 2,153 shares during the period. Finally, Bayesian Capital Management LP bought a new position in Revvity during the first quarter worth $3,667,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

Insider Transactions at Revvity

In other Revvity news, insider Tajinder S. Vohra sold 2,153 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $122.09, for a total transaction of $262,859.77. Following the sale, the insider now owns 23,960 shares in the company, valued at $2,925,276.40. This represents a 8.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.60% of the company’s stock.

Revvity Stock Up 0.8 %

Shares of NYSE:RVTY opened at $112.03 on Friday. The company has a market capitalization of $13.63 billion, a PE ratio of 54.12, a price-to-earnings-growth ratio of 2.77 and a beta of 1.05. The business has a fifty day moving average price of $120.53 and a two-hundred day moving average price of $115.56. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.56 and a quick ratio of 2.97. Revvity, Inc. has a 1 year low of $86.30 and a 1 year high of $129.50.

Revvity (NYSE:RVTY) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, beating 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 business had revenue of $684.10 million during the quarter, compared to analyst estimates of $679.66 million. During the same period in the prior year, the company earned $1.18 earnings per share. Revvity’s revenue was up 2.1% compared to the same quarter last year. Analysts forecast that Revvity, Inc. will post 4.85 earnings per share for the current year.

Revvity declared that its Board of Directors has approved a stock repurchase program on Monday, November 4th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 6.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Revvity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, January 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.25%. Revvity’s dividend payout ratio is presently 13.53%.

Analyst Upgrades and Downgrades

RVTY has been the topic of several research reports. Robert W. Baird upped their price objective on shares of Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Barclays upgraded Revvity from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $125.00 to $140.00 in a report on Tuesday, October 15th. TD Cowen boosted their price target on shares of Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Leerink Partners raised their price objective on shares of Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. boosted their target price 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. Seven 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $132.07.

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.