BNP Paribas Financial Markets Trims Stake in Revvity, Inc. (NYSE:RVTY)

BNP Paribas Financial Markets lowered its position in shares of Revvity, Inc. (NYSE:RVTY - Free Report) by 18.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 140,112 shares of the company's stock after selling 31,723 shares during the quarter. BNP Paribas Financial Markets owned about 0.12% of Revvity worth $17,899,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RVTY. EdgePoint Investment Group Inc. bought a new stake in Revvity in the 2nd quarter worth about $209,221,000. Assenagon Asset Management S.A. boosted its stake 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 worth $9,142,000 after purchasing an additional 84,515 shares during the period. RGM Capital LLC boosted its stake in Revvity by 6.7% in the 2nd quarter. RGM Capital LLC now owns 950,858 shares of the company's stock worth $99,707,000 after purchasing an additional 59,994 shares during the period. TD Asset Management Inc boosted its stake in Revvity by 139.1% in the 2nd quarter. TD Asset Management Inc now owns 100,927 shares of the company's stock worth $10,583,000 after purchasing an additional 58,719 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Revvity by 5.3% during the 2nd 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 last quarter. Hedge funds and other institutional investors own 86.65% of the company's stock.

Analyst Ratings Changes

RVTY has been the subject of a number of research reports. Leerink Partners increased their target price on Revvity from $130.00 to $135.00 and gave the company an "outperform" rating in a research report on Thursday, October 17th. Barclays decreased their price target on Revvity from $140.00 to $135.00 and set an "overweight" rating on the stock in a report on Monday, November 25th. Wells Fargo & Company began coverage on Revvity in a report on Tuesday, August 27th. They set an "equal weight" rating and a $130.00 price target on the stock. TD Cowen increased their target price on Revvity from $141.00 to $144.00 and gave the stock a "buy" rating in a research note 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 research report on Tuesday, November 5th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $131.73.

Insider Activity at Revvity

In other news, insider Tajinder S. Vohra sold 2,153 shares of the business's stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $122.09, for a total value of $262,859.77. Following the completion of the sale, the insider now directly owns 23,960 shares in the company, valued at $2,925,276.40. The trade was a 8.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.60% of the stock is owned by company insiders.

Revvity Stock Down 0.1 %

NYSE RVTY traded down $0.09 during trading on Friday, hitting $116.14. The company's stock had a trading volume of 389,640 shares, compared to its average volume of 1,099,678. 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 company has a market cap of $14.13 billion, a PE ratio of 56.11, a P/E/G ratio of 3.57 and a beta of 1.05. The business's 50 day simple moving average is $119.71 and its 200-day simple moving average is $116.03. Revvity, Inc. has a fifty-two week low of $87.58 and a fifty-two week high of $129.50.

Revvity (NYSE:RVTY - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.15. Revvity had a return on equity of 7.42% and a net margin of 9.34%. The firm had revenue of $684.10 million during the quarter, compared to analysts' expectations of $679.66 million. During the same period last year, the business posted $1.18 earnings per share. The company's revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities analysts anticipate that Revvity, Inc. will post 4.85 EPS for the current fiscal year.

Revvity Announces Dividend

The company also recently disclosed 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. This represents a $0.28 annualized dividend and a dividend yield of 0.24%. The ex-dividend date of this dividend is Friday, January 17th. Revvity's payout ratio is 13.53%.

Revvity announced that its board has approved a share buyback plan on Monday, November 4th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to repurchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are 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.