Revvity, Inc. (NYSE:RVTY) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its position in shares of Revvity, Inc. (NYSE:RVTY - Free Report) by 3.1% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 830,488 shares of the company's stock after acquiring an additional 24,726 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.68% of Revvity worth $106,095,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in RVTY. Jane Street Group LLC grew 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 purchasing an additional 379,802 shares during the period. Assenagon Asset Management S.A. grew its holdings in Revvity by 3,171.3% during the second quarter. Assenagon Asset Management S.A. now owns 87,180 shares of the company's stock worth $9,142,000 after acquiring an additional 84,515 shares during the period. DekaBank Deutsche Girozentrale raised its position in Revvity by 27.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 84,383 shares of the company's stock valued at $8,790,000 after acquiring an additional 18,367 shares in the last quarter. Virtu Financial LLC acquired a new position in Revvity in the first quarter valued at approximately $1,214,000. Finally, Artemis Investment Management LLP boosted its position in Revvity by 21.3% in the 2nd quarter. Artemis Investment Management LLP now owns 107,634 shares of the company's stock worth $11,287,000 after purchasing an additional 18,916 shares in the last quarter. Hedge funds and other institutional investors own 86.65% of the company's stock.

Revvity Stock Up 0.4 %

RVTY stock traded up $0.48 during mid-day trading on Tuesday, reaching $115.14. The company had a trading volume of 1,013,583 shares, compared to its average volume of 844,243. The firm has a fifty day simple moving average of $120.22 and a 200 day simple moving average of $115.89. 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 company has a market capitalization of $14.01 billion, a price-to-earnings ratio of 55.62, a price-to-earnings-growth ratio of 2.80 and a beta of 1.05. Revvity, Inc. has a fifty-two week low of $86.30 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 for the quarter, beating analysts' consensus estimates of $1.13 by $0.15. The business had revenue of $684.10 million for the quarter, compared to analyst estimates of $679.66 million. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The company's revenue was up 2.1% on a year-over-year basis. During the same period last year, the business earned $1.18 EPS. Analysts forecast that Revvity, Inc. will post 4.85 earnings per share for the current fiscal year.

Revvity declared that its board has initiated a share buyback plan on Monday, November 4th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 6.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Revvity Dividend Announcement

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

Insider Activity

In related news, insider Tajinder S. Vohra sold 2,154 shares of the firm's stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $121.73, for a total transaction of $262,206.42. Following the transaction, the insider now owns 19,652 shares in the company, valued at $2,392,237.96. This trade represents a 9.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.60% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Barclays dropped their price objective on Revvity from $140.00 to $135.00 and set an "overweight" rating on the stock in a report on Monday. Leerink Partners upped their price objective on shares of Revvity from $130.00 to $135.00 and gave the stock an "outperform" rating in a research report on Thursday, October 17th. Bank of America lifted their price objective on Revvity from $118.00 to $127.00 and gave the stock a "neutral" rating in a report on Tuesday, July 30th. Robert W. Baird increased their target price on Revvity from $136.00 to $138.00 and gave the company an "outperform" rating in a report on Tuesday, November 5th. Finally, Wells Fargo & Company assumed coverage on Revvity in a research report on Tuesday, August 27th. They issued an "equal weight" rating and a $130.00 target price on the stock. Seven investment 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 stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $131.73.

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.