CIBC Asset Management Inc Has $2.30 Million Stock Holdings in Revvity, Inc. (NYSE:RVTY)

CIBC Asset Management Inc increased its holdings in shares of Revvity, Inc. (NYSE:RVTY) by 8.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 17,993 shares of the company’s stock after acquiring an additional 1,368 shares during the period. CIBC Asset Management Inc’s holdings in Revvity were worth $2,299,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in RVTY. EdgePoint Investment Group Inc. bought a new position in Revvity during the second quarter worth about $209,221,000. Jane Street Group LLC raised its holdings in shares of Revvity by 516.4% in the 1st quarter. Jane Street Group LLC now owns 453,343 shares of the company’s stock worth $47,601,000 after buying an additional 379,802 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Revvity by 3.9% during the 1st quarter. Janus Henderson Group PLC now owns 5,664,528 shares of the company’s stock worth $594,769,000 after buying an additional 210,100 shares during the period. Magnetar Financial LLC boosted its stake in Revvity by 441.3% in the 1st quarter. Magnetar Financial LLC now owns 136,371 shares of the company’s stock valued at $14,319,000 after buying an additional 111,178 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Revvity by 3,171.3% in the second quarter. Assenagon Asset Management S.A. now owns 87,180 shares of the company’s stock valued at $9,142,000 after acquiring an additional 84,515 shares during the period. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Revvity Trading Up 0.4 %

NYSE:RVTY opened at $109.91 on Wednesday. The company has a current ratio of 3.56, a quick ratio of 2.97 and a debt-to-equity ratio of 0.40. 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 $13.38 billion, a price-to-earnings ratio of 53.10, a PEG ratio of 2.73 and a beta of 1.05. The business’s 50-day moving average price is $121.33 and its two-hundred day moving average price is $115.50.

Revvity (NYSE:RVTY) last released its quarterly earnings data on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.15. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The business had revenue of $684.10 million for the quarter, compared to analyst estimates of $679.66 million. During the same quarter last year, the firm earned $1.18 EPS. Revvity’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 earnings per share for the current year.

Revvity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date is Friday, January 17th. Revvity’s dividend payout ratio is currently 13.53%.

Revvity announced that its board has initiated a stock buyback plan on Monday, November 4th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 6.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Robert W. Baird lifted their price objective on Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Raymond James boosted their price target on shares of Revvity from $144.00 to $146.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Citigroup raised their price objective on shares of Revvity from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Jefferies Financial Group lifted their target price on shares of Revvity from $115.00 to $125.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Finally, Barclays raised Revvity from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $125.00 to $140.00 in a report on Tuesday, October 15th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Revvity has a consensus rating of “Moderate Buy” and a consensus price target of $132.07.

Insider Buying and Selling

In related news, insider Tajinder S. Vohra sold 2,153 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $122.09, for a total transaction of $262,859.77. Following the completion of the sale, the insider now directly owns 23,960 shares of the company’s stock, valued at approximately $2,925,276.40. This represents a 8.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.60% of the stock is currently owned by company insiders.

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.