Quest Partners LLC Takes $126,000 Position in Revvity, Inc. (NYSE:RVTY)

Quest Partners LLC bought a new position in shares of Revvity, Inc. (NYSE:RVTY) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 988 shares of the company’s stock, valued at approximately $126,000.

Other large investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. increased its position in shares of Revvity by 3,171.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 87,180 shares of the company’s stock worth $9,142,000 after purchasing an additional 84,515 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in Revvity by 27.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 84,383 shares of the company’s stock worth $8,790,000 after acquiring an additional 18,367 shares in the last quarter. Artemis Investment Management LLP lifted its stake in Revvity by 21.3% in the second quarter. Artemis Investment Management LLP now owns 107,634 shares of the company’s stock valued at $11,287,000 after acquiring an additional 18,916 shares during the last quarter. Bretton Capital Management LLC acquired a new stake in Revvity in the third quarter valued at $1,405,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Revvity by 76.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,568 shares of the company’s stock valued at $3,205,000 after acquiring an additional 13,283 shares during the period. 86.65% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Tajinder S. Vohra sold 2,153 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The shares were 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 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

Revvity Stock Performance

Shares of NYSE:RVTY opened at $116.23 on Friday. The company has a quick ratio of 2.97, a current ratio of 3.56 and a debt-to-equity ratio of 0.40. Revvity, Inc. has a 12-month low of $86.30 and a 12-month high of $129.50. The company’s 50 day moving average price is $119.84 and its two-hundred day moving average price is $115.89. The firm has a market cap of $14.15 billion, a PE ratio of 56.15, a PEG ratio of 2.86 and a beta of 1.05.

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

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

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 dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.28 annualized dividend and a yield of 0.24%. Revvity’s dividend payout ratio is 13.53%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on RVTY shares. 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 research note on Tuesday, November 5th. Wells Fargo & Company started coverage on Revvity in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 price objective for the company. TD Cowen boosted their target price on Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Raymond James increased their price target on Revvity from $144.00 to $146.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Finally, Leerink Partners lifted 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. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.