Fisher Asset Management LLC Buys 1,526 Shares of Revvity, Inc. (NYSE:RVTY)

Fisher Asset Management LLC raised its stake in shares of Revvity, Inc. (NYSE:RVTY) by 3.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 40,615 shares of the company’s stock after purchasing an additional 1,526 shares during the period. Fisher Asset Management LLC’s holdings in Revvity were worth $5,189,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of RVTY. Rothschild Investment LLC bought a new position in Revvity during the 2nd quarter worth $25,000. Gladius Capital Management LP bought a new position in Revvity during the 3rd quarter worth $32,000. EverSource Wealth Advisors LLC raised its position in Revvity by 74.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company’s stock worth $41,000 after purchasing an additional 167 shares during the last quarter. Family Firm Inc. bought a new position in Revvity during the 2nd quarter worth $43,000. Finally, Fairfield Financial Advisors LTD bought a new position in Revvity during the 2nd quarter worth $43,000. 86.65% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Sanford C. Bernstein lowered their target price on Revvity from $150.00 to $145.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Barclays decreased their price target on Revvity from $140.00 to $135.00 and set an “overweight” rating for the company in a report on Monday. Leerink Partners increased their price target on Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Raymond James increased their price target on Revvity from $144.00 to $146.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Finally, Robert W. Baird increased their price target on Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $131.73.

Revvity Stock Performance

Shares of RVTY opened at $116.23 on Friday. 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 stock has a 50-day moving average of $119.84 and a 200-day moving average of $115.89. The company has a market cap of $14.15 billion, a PE ratio of 56.15, a P/E/G ratio of 2.86 and a beta of 1.05. Revvity, Inc. has a one year low of $86.30 and a one year high of $129.50.

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

Revvity Announces Dividend

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

Revvity declared that its board has initiated a share repurchase plan on Monday, November 4th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to buy up to 6.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Revvity

In other Revvity news, insider Tajinder S. Vohra sold 2,154 shares of Revvity stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $121.73, for a total transaction of $262,206.42. Following the completion of the transaction, the insider now owns 19,652 shares in the company, valued at approximately $2,392,237.96. The trade was a 9.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.60% of the company’s stock.

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.