Avanza Fonder AB Invests $898,000 in Revvity, Inc. (NYSE:RVTY)

Avanza Fonder AB acquired a new stake in shares of Revvity, Inc. (NYSE:RVTY - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 8,047 shares of the company's stock, valued at approximately $898,000.

Several other large investors have also made changes to their positions in the business. Dimensional Fund Advisors LP raised its stake in shares of Revvity by 5.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,149,122 shares of the company's stock valued at $120,506,000 after acquiring an additional 57,656 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in Revvity by 21.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,078 shares of the company's stock worth $1,353,000 after buying an additional 2,337 shares during the period. First Eagle Investment Management LLC boosted its position in Revvity by 8.5% during the second quarter. First Eagle Investment Management LLC now owns 2,565 shares of the company's stock valued at $269,000 after purchasing an additional 200 shares in the last quarter. Canada Pension Plan Investment Board grew its position in shares of Revvity by 46.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 13,377 shares of the company's stock worth $1,403,000 after buying an additional 4,246 shares during the last quarter. Finally, AE Wealth Management LLC grew its stake in Revvity by 20.2% during the 2nd quarter. AE Wealth Management LLC now owns 12,255 shares of the company's stock worth $1,285,000 after buying an additional 2,061 shares during the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RVTY. Sanford C. Bernstein cut shares of Revvity from an "outperform" rating to a "market perform" rating and set a $130.00 price objective for the company. in a research note on Friday, January 10th. TD Cowen lifted their target price on shares of Revvity from $141.00 to $144.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Leerink Partners raised their price objective on Revvity from $130.00 to $135.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. Bank of America upgraded shares of Revvity from a "neutral" rating to a "buy" rating and set a $138.00 price objective for the company in a research report on Friday, December 13th. Finally, Barclays lowered their target price on shares of Revvity from $140.00 to $135.00 and set an "overweight" rating for the company in a research note on Monday, November 25th. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $132.46.

Insider Buying and Selling at Revvity

In related news, insider Tajinder S. Vohra sold 5,492 shares of the business's stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $116.81, for a total transaction of $641,520.52. Following the transaction, the insider now directly owns 19,652 shares of the company's stock, valued at approximately $2,295,550.12. The trade was a 21.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.60% of the company's stock.

Revvity Stock Down 1.0 %

NYSE RVTY traded down $1.24 on Monday, reaching $118.29. The stock had a trading volume of 659,448 shares, compared to its average volume of 608,055. The company has a market capitalization of $14.40 billion, a price-to-earnings ratio of 57.15, a P/E/G ratio of 3.37 and a beta of 1.03. The business has a 50 day moving average price of $114.89 and a 200 day moving average price of $117.77. Revvity, Inc. has a 1 year low of $97.32 and a 1 year high of $129.50. The company has a current ratio of 3.56, a quick ratio of 2.97 and a debt-to-equity ratio of 0.40.

Revvity (NYSE:RVTY - Get Free Report) last announced 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. Revvity had a return on equity of 7.42% and a net margin of 9.34%. The company had revenue of $684.10 million during the quarter, compared to the consensus estimate of $679.66 million. During the same quarter last year, the company earned $1.18 EPS. The company's quarterly revenue was up 2.1% on a year-over-year basis. On average, analysts forecast that Revvity, Inc. will post 4.84 EPS for the current fiscal year.

Revvity Dividend Announcement

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

Revvity announced that its Board of Directors has initiated a share buyback program on Monday, November 4th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its stock is undervalued.

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.