Pathstone Holdings LLC Grows Position in Revvity, Inc. (NYSE:RVTY)

Pathstone Holdings LLC lifted its holdings in Revvity, Inc. (NYSE:RVTY) by 70.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,358 shares of the company’s stock after buying an additional 8,791 shares during the period. Pathstone Holdings LLC’s holdings in Revvity were worth $2,728,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. EntryPoint Capital LLC purchased a new position in Revvity in the 1st quarter worth approximately $48,000. Price T Rowe Associates Inc. MD boosted its stake in Revvity by 1.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 168,547 shares of the company’s stock worth $17,698,000 after buying an additional 2,153 shares during the last quarter. California State Teachers Retirement System grew its holdings in Revvity by 0.8% in the 1st quarter. California State Teachers Retirement System now owns 196,168 shares of the company’s stock valued at $20,598,000 after buying an additional 1,484 shares in the last quarter. Jane Street Group LLC increased its stake 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 acquiring an additional 379,802 shares during the last quarter. Finally, Wahed Invest LLC raised its holdings in shares of Revvity by 13.6% during the 1st quarter. Wahed Invest LLC now owns 2,399 shares of the company’s stock worth $252,000 after acquiring an additional 288 shares during the period. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Revvity Price Performance

Shares of NYSE RVTY opened at $114.66 on Tuesday. 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 company has a market cap of $13.95 billion, a price-to-earnings ratio of 55.39, a price-to-earnings-growth ratio of 2.80 and a beta of 1.05. The stock’s 50-day moving average is $120.37 and its two-hundred day moving average is $115.81. Revvity, Inc. has a 1-year low of $86.30 and a 1-year high of $129.50.

Revvity (NYSE:RVTY) last issued its earnings results on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, beating 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 firm had revenue of $684.10 million for the quarter, compared to analysts’ expectations of $679.66 million. During the same quarter last year, the company earned $1.18 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. Analysts forecast that Revvity, Inc. will post 4.85 EPS for the current fiscal year.

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

Revvity Announces Dividend

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

Insider Buying and Selling at Revvity

In other Revvity news, insider Tajinder S. Vohra sold 2,154 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 19,652 shares of the company’s stock, valued at approximately $2,392,237.96. This trade 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. 0.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company started coverage on shares of Revvity in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $130.00 price objective for the company. 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 research report on Tuesday, November 5th. Sanford C. Bernstein cut their target price on Revvity from $150.00 to $145.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Leerink Partners upped their price target on Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. raised their price objective on Revvity from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.73.

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.