Fisher Asset Management LLC Purchases 1,526 Shares of Revvity, Inc. (NYSE:RVTY)

Fisher Asset Management LLC grew its position in shares of Revvity, Inc. (NYSE:RVTY) by 3.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 40,615 shares of the company’s stock after buying an additional 1,526 shares during the quarter. Fisher Asset Management LLC’s holdings in Revvity were worth $5,189,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Assenagon Asset Management S.A. lifted its position in shares of Revvity by 3,171.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 87,180 shares of the company’s stock worth $9,142,000 after buying an additional 84,515 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of Revvity by 27.8% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 84,383 shares of the company’s stock worth $8,790,000 after buying an additional 18,367 shares in the last quarter. Artemis Investment Management LLP lifted its position in shares of Revvity by 21.3% during the 2nd quarter. Artemis Investment Management LLP now owns 107,634 shares of the company’s stock worth $11,287,000 after buying an additional 18,916 shares in the last quarter. Bretton Capital Management LLC bought a new position in shares of Revvity during the 3rd quarter worth approximately $1,405,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Revvity by 76.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,568 shares of the company’s stock worth $3,205,000 after purchasing an additional 13,283 shares during the period. Institutional investors own 86.65% of the company’s stock.

Wall Street Analysts Forecast Growth

RVTY has been the topic of a number of research reports. Wells Fargo & Company initiated coverage on shares of Revvity in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 price target on the stock. Leerink Partners lifted their price target on shares of Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Robert W. Baird lifted their price target on shares of Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Sanford C. Bernstein lowered their price target on shares of Revvity from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Finally, TD Cowen lifted their price target on shares of Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $131.73.

Revvity Stock Up 1.0 %

Revvity stock opened at $116.23 on Friday. Revvity, Inc. has a 1-year low of $86.30 and a 1-year high of $129.50. The firm has a market capitalization of $14.15 billion, a price-to-earnings ratio of 56.15, a P/E/G ratio of 2.86 and a beta of 1.05. The company has a current ratio of 3.56, a quick ratio of 2.97 and a debt-to-equity ratio of 0.40. The firm has a 50 day simple moving average of $119.84 and a 200 day simple moving average of $115.89.

Revvity (NYSE:RVTY) last released its quarterly earnings results on Monday, November 4th. The company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.15. The firm had revenue of $684.10 million during the quarter, compared to analyst estimates of $679.66 million. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.18 EPS. On average, analysts predict that Revvity, Inc. will post 4.85 earnings per share for the current 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 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 dividend yield of 0.24%. Revvity’s dividend payout ratio (DPR) is currently 13.53%.

Revvity declared that its board has approved a share repurchase plan on Monday, November 4th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to repurchase up to 6.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, insider Tajinder S. Vohra sold 2,154 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were 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 9.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.60% of the company’s stock.

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.