Revvity, Inc. (NYSE:RVTY) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its holdings in shares of Revvity, Inc. (NYSE:RVTY - Free Report) by 13.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 344,115 shares of the company's stock after purchasing an additional 41,497 shares during the quarter. JPMorgan Chase & Co. owned 0.28% of Revvity worth $43,961,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Gladius Capital Management LP purchased a new stake in shares of Revvity during the 3rd quarter valued at about $32,000. EverSource Wealth Advisors LLC raised its position in Revvity by 74.2% during the second quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company's stock valued at $41,000 after purchasing an additional 167 shares during the period. Fairfield Financial Advisors LTD bought a new stake in shares of Revvity in the 2nd quarter valued at approximately $43,000. Continuum Advisory LLC boosted its holdings in shares of Revvity by 2,972.7% in the 3rd quarter. Continuum Advisory LLC now owns 338 shares of the company's stock worth $43,000 after purchasing an additional 327 shares during the period. Finally, Avior Wealth Management LLC increased its position in shares of Revvity by 7,980.0% during the 3rd quarter. Avior Wealth Management LLC now owns 404 shares of the company's stock valued at $52,000 after purchasing an additional 399 shares during the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on RVTY. Leerink Partners raised their price target on Revvity from $130.00 to $135.00 and gave the stock an "outperform" rating in a research report on Thursday, October 17th. TD Cowen raised their target price on shares of Revvity from $141.00 to $144.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. Bank of America upgraded Revvity from a "neutral" rating to a "buy" rating and set a $138.00 price target for the company in a report on Friday, December 13th. Robert W. Baird raised their price objective on Revvity from $136.00 to $138.00 and gave the stock an "outperform" rating in a report on Tuesday, November 5th. Finally, Barclays decreased their target price on Revvity from $140.00 to $135.00 and set an "overweight" rating for the company in a research report on Monday, November 25th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $133.00.

Revvity Stock Up 1.6 %

Shares of NYSE:RVTY traded up $1.83 during trading on Monday, reaching $115.43. The stock had a trading volume of 766,072 shares, compared to its average volume of 654,624. The firm's 50-day simple moving average is $115.71 and its 200 day simple moving average is $116.75. 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, Inc. has a one year low of $97.32 and a one year high of $129.50. The company has a market capitalization of $14.05 billion, a P/E ratio of 55.76, a PEG ratio of 3.59 and a beta of 1.03.

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

Revvity Announces Dividend

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

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

Insiders Place Their Bets

In other Revvity news, insider Tajinder S. Vohra sold 2,154 shares of the company's stock in a transaction that occurred on Wednesday, October 9th. The shares were 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 approximately $2,392,237.96. This represents a 9.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.60% of the company's stock.

Revvity Company 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.