Commerce Bank Has $1.49 Million Holdings in Revvity, Inc. (NYSE:RVTY)

Commerce Bank boosted its position in shares of Revvity, Inc. (NYSE:RVTY) by 20.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,674 shares of the company’s stock after purchasing an additional 1,994 shares during the period. Commerce Bank’s holdings in Revvity were worth $1,491,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of RVTY. EdgePoint Investment Group Inc. bought a new stake in shares of Revvity in the second quarter worth $209,221,000. Jane Street Group LLC lifted its position in Revvity by 516.4% during 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 boosted its stake 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 last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Revvity by 3,171.3% in the 2nd 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 in the last quarter. Finally, RGM Capital LLC increased its position in shares of Revvity by 6.7% in the second quarter. RGM Capital LLC now owns 950,858 shares of the company’s stock valued at $99,707,000 after acquiring an additional 59,994 shares during the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

Wall Street Analyst Weigh In

RVTY has been the subject of a number of analyst reports. Sanford C. Bernstein decreased their price target on Revvity from $150.00 to $145.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. TD Cowen boosted their target price on shares of Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Bank of America increased their price target on shares of Revvity from $118.00 to $127.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Wells Fargo & Company began coverage on shares of Revvity in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $130.00 price objective on the stock. Finally, Citigroup raised their target price on shares of Revvity from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Seven 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.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $132.07.

Revvity Stock Up 0.8 %

Shares of NYSE RVTY opened at $112.03 on Friday. Revvity, Inc. has a 52 week low of $86.30 and a 52 week high of $129.50. The stock’s fifty day moving average is $120.53 and its 200 day moving average is $115.56. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.97 and a current ratio of 3.56. The stock has a market capitalization of $13.63 billion, a P/E ratio of 54.12, a PEG ratio of 2.77 and a beta of 1.05.

Revvity (NYSE:RVTY) last issued its earnings results on Monday, November 4th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.13 by $0.15. The company had revenue of $684.10 million during the quarter, compared to analysts’ expectations of $679.66 million. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.18 EPS. Sell-side analysts forecast that Revvity, Inc. will post 4.85 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.25%. Revvity’s payout ratio is 13.53%.

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 outstanding shares. This repurchase authorization authorizes the company to buy up to 6.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Revvity

In related news, insider Tajinder S. Vohra sold 2,154 shares of Revvity 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 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.60% of the stock is owned by 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.