Fmr LLC Purchases 45,040 Shares of Revvity, Inc. (NYSE:RVTY)

FMR LLC boosted its position in Revvity, Inc. (NYSE:RVTY - Free Report) by 40.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 155,556 shares of the company's stock after purchasing an additional 45,040 shares during the period. FMR LLC owned about 0.13% of Revvity worth $19,872,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RVTY. The Manufacturers Life Insurance Company grew its stake in Revvity by 5.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 579,705 shares of the company's stock worth $74,057,000 after acquiring an additional 27,825 shares during the period. Fisher Asset Management LLC grew its holdings in Revvity by 3.9% in the 3rd quarter. Fisher Asset Management LLC now owns 40,615 shares of the company's stock valued at $5,189,000 after buying an additional 1,526 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of Revvity by 7.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 23,562 shares of the company's stock worth $3,010,000 after acquiring an additional 1,734 shares during the period. Cerity Partners LLC grew its holdings in Revvity by 7.4% in the third quarter. Cerity Partners LLC now owns 17,130 shares of the company's stock valued at $2,188,000 after purchasing an additional 1,174 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Revvity by 3.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 830,488 shares of the company's stock worth $106,095,000 after purchasing an additional 24,726 shares during the period. 86.65% of the stock is owned by institutional investors and hedge funds.

Revvity Stock Performance

Shares of NYSE RVTY traded down $1.20 during trading hours on Wednesday, reaching $116.64. The stock had a trading volume of 959,290 shares, compared to its average volume of 840,582. The company has a market cap of $14.20 billion, a price-to-earnings ratio of 56.93, a PEG ratio of 3.58 and a beta of 1.03. Revvity, Inc. has a twelve month low of $88.90 and a twelve month high of $129.50. The business's fifty day moving average is $118.72 and its two-hundred day moving average is $116.31. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.56 and a quick ratio of 2.97.

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, beating 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 firm had revenue of $684.10 million for the quarter, compared to analyst estimates of $679.66 million. During the same period last year, the company earned $1.18 EPS. The business's quarterly revenue was up 2.1% compared to the same quarter last year. As a group, research analysts expect that Revvity, Inc. will post 4.85 EPS for the current year.

Revvity Announces Dividend

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

Revvity declared that its Board of Directors has authorized a share buyback program on Monday, November 4th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 6.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Leerink Partners upped their target price on Revvity from $130.00 to $135.00 and gave the stock an "outperform" rating in a research report on Thursday, October 17th. Robert W. Baird boosted their target price on shares of Revvity from $136.00 to $138.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 5th. TD Cowen raised their price target on shares of Revvity from $141.00 to $144.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Barclays decreased their price objective on shares of Revvity from $140.00 to $135.00 and set an "overweight" rating for the company in a research report on Monday, November 25th. Finally, Sanford C. Bernstein dropped their target price on Revvity from $150.00 to $145.00 and set an "outperform" rating on the stock in a research report on Tuesday, November 5th. 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $131.73.

Insider Transactions at Revvity

In other Revvity 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 value of $262,206.42. Following the completion of the transaction, the insider now directly owns 19,652 shares in the company, valued at $2,392,237.96. This trade represents a 9.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.60% of the stock is owned by insiders.

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.