Natixis Advisors LLC Raises Holdings in Revvity, Inc. (NYSE:RVTY)

Natixis Advisors LLC grew its holdings in Revvity, Inc. (NYSE:RVTY) by 17.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,499 shares of the company’s stock after buying an additional 1,901 shares during the quarter. Natixis Advisors LLC’s holdings in Revvity were worth $1,597,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Rothschild Investment LLC acquired a new stake in Revvity in the second quarter valued at $25,000. EverSource Wealth Advisors LLC lifted its stake in shares of Revvity by 74.2% in the second quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company’s stock valued at $41,000 after purchasing an additional 167 shares during the period. Family Firm Inc. purchased a new stake in Revvity during the second quarter worth about $43,000. Fairfield Financial Advisors LTD purchased a new stake in Revvity during the second quarter worth about $43,000. Finally, EntryPoint Capital LLC acquired a new position in Revvity during the first quarter worth about $48,000. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Revvity Stock Performance

NYSE:RVTY opened at $114.66 on Tuesday. The firm has a market cap of $13.95 billion, a PE ratio of 55.39, a P/E/G ratio of 2.80 and a beta of 1.05. 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. The firm has a 50 day simple moving average of $120.37 and a 200-day simple moving average of $115.81.

Revvity (NYSE:RVTY) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.15. Revvity had a net margin of 9.34% and a return on equity of 7.42%. 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 company’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities analysts expect that Revvity, Inc. will post 4.85 EPS for the current year.

Revvity announced that its Board of Directors has authorized a stock buyback 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 shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Revvity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.24%. The ex-dividend date of this dividend is Friday, January 17th. Revvity’s dividend payout ratio is currently 13.53%.

Insider Transactions at Revvity

In related 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 value of $262,859.77. Following the completion of the sale, the insider now directly owns 23,960 shares in the company, valued at approximately $2,925,276.40. This represents a 8.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on RVTY shares. Jefferies Financial Group lifted their price target 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. Wells Fargo & Company started coverage on Revvity in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $130.00 target price on the stock. TD Cowen upped their target price on Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Bank of America lifted their price target on Revvity from $118.00 to $127.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Finally, Sanford C. Bernstein lowered their price objective on shares of Revvity from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $131.73.

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.