Sivik Global Healthcare LLC Purchases New Position in Revvity, Inc. (NYSE:RVTY)

Sivik Global Healthcare LLC acquired a new position in shares of Revvity, Inc. (NYSE:RVTY - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 40,000 shares of the company's stock, valued at approximately $5,110,000. Revvity accounts for approximately 2.2% of Sivik Global Healthcare LLC's portfolio, making the stock its 20th largest position.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. UniSuper Management Pty Ltd lifted its holdings in shares of Revvity by 505.2% during the 1st quarter. UniSuper Management Pty Ltd now owns 9,864 shares of the company's stock worth $1,036,000 after acquiring an additional 8,234 shares during the period. Entropy Technologies LP acquired a new stake in shares of Revvity during the first quarter valued at about $480,000. Jane Street Group LLC grew its holdings in shares of Revvity by 516.4% during the first quarter. Jane Street Group LLC now owns 453,343 shares of the company's stock worth $47,601,000 after purchasing an additional 379,802 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of Revvity in the first quarter valued at approximately $1,267,000. Finally, Assenagon Asset Management S.A. raised its holdings in 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 buying an additional 84,515 shares during the last quarter. Institutional investors and hedge funds own 86.65% of the company's stock.

Insider Transactions at Revvity

In related news, insider Tajinder S. Vohra sold 2,154 shares of the company's stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total value of $262,206.42. Following the completion of the transaction, the insider now owns 19,652 shares of the company's stock, valued at approximately $2,392,237.96. This represents a 9.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have issued reports on RVTY. Jefferies Financial Group upped their price target on shares of Revvity from $115.00 to $125.00 and gave the company a "hold" rating in a research report on Monday, July 29th. Citigroup raised their target price on Revvity from $135.00 to $145.00 and gave the stock a "buy" rating in a research report on Tuesday, July 30th. Sanford C. Bernstein cut their target price on Revvity from $150.00 to $145.00 and set an "outperform" rating on the stock 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, JPMorgan Chase & Co. lifted their price objective on Revvity from $105.00 to $120.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 30th. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Revvity has an average rating of "Moderate Buy" and an average price target of $132.07.

Revvity Stock Down 3.1 %

Shares of RVTY stock traded down $3.69 during trading hours on Thursday, hitting $116.05. 732,312 shares of the company's stock traded hands, compared to its average volume of 830,216. The company has a quick ratio of 2.97, a current ratio of 3.56 and a debt-to-equity ratio of 0.40. The stock has a market cap of $14.12 billion, a price-to-earnings ratio of 57.85, a PEG ratio of 3.01 and a beta of 1.05. The stock's fifty day simple moving average is $121.65 and its two-hundred day simple moving average is $115.22. Revvity, Inc. has a 12-month low of $86.30 and a 12-month high of $129.50.

Revvity (NYSE:RVTY - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.28 EPS for the quarter, beating 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 firm had revenue of $684.10 million for the quarter, compared to analysts' expectations of $679.66 million. During the same quarter in the prior year, the company posted $1.18 earnings per share. The business's revenue for the quarter was up 2.1% on a year-over-year basis. On average, analysts expect that Revvity, Inc. will post 4.85 EPS for the current year.

Revvity announced that its board has approved a share repurchase program on Monday, November 4th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 6.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its shares are undervalued.

Revvity Announces Dividend

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

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.