Public Sector Pension Investment Board Grows Stake in Revvity, Inc. (NYSE:RVTY)

Public Sector Pension Investment Board grew its position in Revvity, Inc. (NYSE:RVTY) by 14.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 5,383 shares of the company’s stock after purchasing an additional 700 shares during the quarter. Public Sector Pension Investment Board’s holdings in Revvity were worth $688,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in RVTY. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Revvity by 7.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 684,078 shares of the company’s stock valued at $87,391,000 after purchasing an additional 48,700 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Revvity by 23.7% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,805 shares of the company’s stock valued at $4,830,000 after buying an additional 7,237 shares during the period. RGM Capital LLC raised its stake in Revvity by 3.2% in the third quarter. RGM Capital LLC now owns 980,858 shares of the company’s stock worth $125,305,000 after buying an additional 30,000 shares in the last quarter. FMR LLC lifted its holdings in Revvity by 40.8% during the third quarter. FMR LLC now owns 155,556 shares of the company’s stock worth $19,872,000 after buying an additional 45,040 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in Revvity by 5.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 579,705 shares of the company’s stock valued at $74,057,000 after acquiring an additional 27,825 shares in the last quarter. Institutional investors own 86.65% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Sanford C. Bernstein reduced their price target on Revvity from $150.00 to $145.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Wells Fargo & Company began coverage on shares of Revvity in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 target price for the company. Barclays lowered their price target on shares of Revvity from $140.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. TD Cowen boosted their price objective on shares of Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Leerink Partners raised their target price 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. 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $131.73.

Insider Transactions at Revvity

In other Revvity news, insider Tajinder S. Vohra sold 2,154 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total value of $262,206.42. Following the sale, the insider now directly owns 19,652 shares of the company’s stock, valued at approximately $2,392,237.96. This represents a 9.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.60% of the company’s stock.

Revvity Stock Performance

Shares of RVTY stock opened at $116.46 on Friday. The business has a fifty day moving average of $118.87 and a 200 day moving average of $116.23. Revvity, Inc. has a 1 year low of $88.90 and a 1 year high of $129.50. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.56 and a quick ratio of 2.97. The firm has a market capitalization of $14.17 billion, a price-to-earnings ratio of 56.26, a price-to-earnings-growth ratio of 3.57 and a beta of 1.03.

Revvity (NYSE:RVTY) last announced its quarterly earnings data 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. The firm had revenue of $684.10 million during the quarter, compared to analysts’ expectations of $679.66 million. Revvity had a return on equity of 7.42% and a net margin of 9.34%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the business posted $1.18 earnings per share. As a group, research analysts expect that Revvity, Inc. will post 4.85 earnings per share for the current year.

Revvity Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be issued 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 (DPR) is currently 13.53%.

Revvity announced that its Board of Directors has approved a share 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 buy up to 6.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

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.