Eastern Bank Acquires New Position in Revvity, Inc. (NYSE:RVTY)

Eastern Bank acquired a new stake in Revvity, Inc. (NYSE:RVTY) during the third quarter, according to its most recent 13F filing with the SEC. The fund acquired 623 shares of the company’s stock, valued at approximately $80,000.

A number of other hedge funds have also added to or reduced their stakes in RVTY. EdgePoint Investment Group Inc. purchased a new position in Revvity during the 2nd quarter valued at about $209,221,000. Jane Street Group LLC grew its holdings in Revvity by 516.4% during the 1st quarter. Jane Street Group LLC now owns 453,343 shares of the company’s stock valued at $47,601,000 after buying an additional 379,802 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Revvity by 18.5% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,126,271 shares of the company’s stock valued at $223,258,000 after buying an additional 332,632 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Revvity by 3.9% during the 1st quarter. Janus Henderson Group PLC now owns 5,664,528 shares of the company’s stock valued at $594,769,000 after buying an additional 210,100 shares in the last quarter. Finally, Coronation Fund Managers Ltd. grew its holdings in Revvity by 261.3% during the 1st quarter. Coronation Fund Managers Ltd. now owns 253,722 shares of the company’s stock valued at $26,641,000 after buying an additional 183,490 shares in the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Insider Activity

In other news, insider Joel S. Goldberg sold 3,500 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $117.86, for a total transaction of $412,510.00. Following the completion of the sale, the insider now owns 33,400 shares of the company’s stock, valued at approximately $3,936,524. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Tajinder S. Vohra sold 2,154 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $121.73, for a total value of $262,206.42. Following the completion of the sale, the insider now owns 19,652 shares of the company’s stock, valued at $2,392,237.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Joel S. Goldberg sold 3,500 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $117.86, for a total value of $412,510.00. Following the completion of the sale, the insider now directly owns 33,400 shares of the company’s stock, valued at $3,936,524. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,807 shares of company stock valued at $937,576. 0.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on RVTY shares. JPMorgan Chase & Co. lifted their target price on Revvity from $105.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Jefferies Financial Group boosted their price objective on Revvity from $115.00 to $125.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Wells Fargo & Company initiated coverage on shares of Revvity in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 price objective on the stock. Leerink Partners upped their price objective on shares of Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, Barclays upgraded shares of Revvity from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $125.00 to $140.00 in a research report on Tuesday, October 15th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $127.20.

Revvity Stock Up 0.2 %

Shares of NYSE RVTY opened at $116.33 on Friday. Revvity, Inc. has a one year low of $79.50 and a one year high of $128.15. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.98. The firm’s 50 day simple moving average is $121.51 and its two-hundred day simple moving average is $113.49. The stock has a market capitalization of $14.35 billion, a P/E ratio of 96.14, a PEG ratio of 3.35 and a beta of 1.05.

Revvity (NYSE:RVTY) last released its quarterly earnings data on Monday, July 29th. The company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10. The firm had revenue of $691.70 million during the quarter, compared to analyst estimates of $690.33 million. Revvity had a return on equity of 7.34% and a net margin of 6.26%. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.21 earnings per share. As a group, analysts expect that Revvity, Inc. will post 4.75 EPS for the current fiscal year.

Revvity Announces Dividend

The business 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 dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis 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 presently 23.14%.

About Revvity

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.