Handelsbanken Fonder AB Raises Stock Holdings in Revvity, Inc. (NYSE:RVTY)

Handelsbanken Fonder AB raised its position in Revvity, Inc. (NYSE:RVTY) by 4.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 33,960 shares of the company’s stock after purchasing an additional 1,600 shares during the period. Handelsbanken Fonder AB’s holdings in Revvity were worth $3,790,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RVTY. Creative Planning lifted its stake in Revvity by 2.3% in the third quarter. Creative Planning now owns 20,308 shares of the company’s stock valued at $2,594,000 after buying an additional 451 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Revvity by 4.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,921 shares of the company’s stock valued at $756,000 after buying an additional 246 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Revvity by 12,674.8% in the third quarter. International Assets Investment Management LLC now owns 13,669 shares of the company’s stock valued at $1,746,000 after buying an additional 13,562 shares during the last quarter. IFM Investors Pty Ltd lifted its stake in Revvity by 3.9% in the third quarter. IFM Investors Pty Ltd now owns 25,959 shares of the company’s stock valued at $3,316,000 after buying an additional 975 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Revvity by 44.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,530 shares of the company’s stock worth $1,075,000 after purchasing an additional 2,632 shares during the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Revvity Stock Down 0.9 %

Revvity stock opened at $113.72 on Monday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.03 and a current ratio of 3.60. The firm has a market capitalization of $13.84 billion, a price-to-earnings ratio of 51.46, a price-to-earnings-growth ratio of 3.82 and a beta of 1.03. Revvity, Inc. has a fifty-two week low of $97.32 and a fifty-two week high of $129.50. The stock’s fifty day moving average is $116.76 and its two-hundred day moving average is $118.62.

Revvity (NYSE:RVTY) last posted its earnings results on Friday, January 31st. The company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.05. Revvity had a return on equity of 7.68% and a net margin of 9.81%. During the same period last year, the business earned $1.25 EPS. Analysts predict that Revvity, Inc. will post 4.94 EPS for the current fiscal year.

Revvity announced that its Board of Directors has initiated a share repurchase program on Monday, November 4th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 6.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Revvity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 18th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date is Thursday, April 17th. Revvity’s payout ratio is currently 12.67%.

Insider Activity at Revvity

In other Revvity news, insider Tajinder S. Vohra sold 5,492 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $116.81, for a total value of $641,520.52. Following the sale, the insider now directly owns 19,652 shares of the company’s stock, valued at approximately $2,295,550.12. This trade represents a 21.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joel S. Goldberg sold 15,170 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $126.73, for a total value of $1,922,494.10. Following the completion of the sale, the insider now directly owns 33,400 shares in the company, valued at approximately $4,232,782. The trade was a 31.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on RVTY. Sanford C. Bernstein cut Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price target for the company. in a research note on Friday, January 10th. Barclays upped their price target on Revvity from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Robert W. Baird upped their price target on Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Raymond James restated an “outperform” rating and set a $145.00 price target (up previously from $140.00) on shares of Revvity in a research note on Monday, February 3rd. Finally, KeyCorp upped their price target on Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $136.25.

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.