Public Sector Pension Investment Board Raises Stock Position in Revvity, Inc. (NYSE:RVTY)

Public Sector Pension Investment Board grew its holdings in Revvity, Inc. (NYSE:RVTY) by 14.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,383 shares of the company’s stock after acquiring an additional 700 shares during the period. Public Sector Pension Investment Board’s holdings in Revvity were worth $688,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Assenagon Asset Management S.A. raised its stake in Revvity by 3,171.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 87,180 shares of the company’s stock valued at $9,142,000 after purchasing an additional 84,515 shares during the period. Artemis Investment Management LLP grew its holdings in Revvity by 21.3% during the 2nd quarter. Artemis Investment Management LLP now owns 107,634 shares of the company’s stock valued at $11,287,000 after buying an additional 18,916 shares in the last quarter. Bretton Capital Management LLC bought a new stake in shares of Revvity during the third quarter valued at approximately $1,405,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Revvity by 76.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,568 shares of the company’s stock worth $3,205,000 after buying an additional 13,283 shares in the last quarter. Finally, Gateway Investment Advisers LLC boosted its position in shares of Revvity by 942.5% during the third quarter. Gateway Investment Advisers LLC now owns 38,081 shares of the company’s stock worth $4,865,000 after acquiring an additional 34,428 shares during the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Revvity Trading Up 1.2 %

Shares of RVTY opened at $116.46 on Friday. Revvity, Inc. has a twelve month low of $88.90 and a twelve month high of $129.50. 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 company’s fifty day simple moving average is $118.87 and its 200-day simple moving average is $116.23. The company has a market cap of $14.17 billion, a P/E ratio of 56.26, a P/E/G ratio of 3.57 and a beta of 1.03.

Revvity (NYSE:RVTY) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.15. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The company had revenue of $684.10 million for the quarter, compared to analyst estimates of $679.66 million. During the same period in the prior year, the company posted $1.18 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, analysts expect that Revvity, Inc. will post 4.85 EPS for the current year.

Revvity Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date is Friday, January 17th. Revvity’s payout ratio is currently 13.53%.

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Robert W. Baird lifted their price target on shares of Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. TD Cowen boosted their target price on Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Raymond James raised their price target on Revvity from $144.00 to $146.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Leerink Partners upped their price objective on Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Sanford C. Bernstein cut their target price on shares of Revvity from $150.00 to $145.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Seven equities 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $131.73.

Insider Buying and Selling at Revvity

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 sale, the insider now directly owns 19,652 shares of the company’s stock, valued at approximately $2,392,237.96. The trade was a 9.88 % decrease in their ownership of the stock. The sale 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 corporate insiders.

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.