Mirae Asset Global Investments Co. Ltd. Grows Position in Revvity, Inc. (NYSE:RVTY)

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Revvity, Inc. (NYSE:RVTY - Free Report) by 41.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,072 shares of the company's stock after acquiring an additional 3,542 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Revvity were worth $1,352,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of RVTY. Trust Point Inc. acquired a new stake in shares of Revvity in the fourth quarter worth approximately $513,000. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Revvity by 6.6% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,202 shares of the company's stock worth $469,000 after acquiring an additional 260 shares during the last quarter. Custom Index Systems LLC boosted its stake in shares of Revvity by 15.1% in the fourth quarter. Custom Index Systems LLC now owns 6,522 shares of the company's stock worth $728,000 after acquiring an additional 855 shares during the last quarter. Caprock Group LLC acquired a new stake in shares of Revvity in the fourth quarter worth approximately $229,000. Finally, Forsta AP Fonden boosted its stake in shares of Revvity by 1.1% in the fourth quarter. Forsta AP Fonden now owns 27,300 shares of the company's stock worth $3,047,000 after acquiring an additional 300 shares during the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Revvity Trading Down 0.5 %

Shares of RVTY stock traded down $0.54 on Friday, hitting $112.34. The stock had a trading volume of 793,480 shares, compared to its average volume of 913,091. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.60 and a quick ratio of 3.03. The firm has a market capitalization of $13.67 billion, a P/E ratio of 50.83, a P/E/G ratio of 3.97 and a beta of 1.03. Revvity, Inc. has a 1 year low of $97.32 and a 1 year high of $129.50. The company's 50 day moving average price is $117.15 and its 200-day moving average price is $118.95.

Revvity (NYSE:RVTY - Get Free Report) last released its earnings results on Friday, January 31st. The company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.37 by $0.05. Revvity had a return on equity of 7.68% and a net margin of 9.81%. During the same quarter in the previous year, the business posted $1.25 earnings per share. Analysts anticipate that Revvity, Inc. will post 4.94 earnings per share for the current year.

Revvity Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 18th will be given a dividend of $0.07 per share. The ex-dividend date is Thursday, April 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.25%. Revvity's dividend payout ratio is currently 12.67%.

Revvity announced that its board has approved a stock repurchase 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 shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RVTY. Robert W. Baird lifted their price target on Revvity from $136.00 to $138.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 5th. Raymond James reaffirmed an "outperform" rating and issued a $145.00 price target (up from $140.00) on shares of Revvity in a research note on Monday, February 3rd. TD Cowen lifted their price target on Revvity from $141.00 to $144.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. Barclays boosted their price objective on Revvity from $135.00 to $140.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Finally, Bank of America raised Revvity from a "neutral" rating to a "buy" rating and set a $138.00 price objective on the stock in a research note on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Revvity currently has a consensus rating of "Moderate Buy" and a consensus target price of $136.25.

Insider Transactions at Revvity

In other Revvity news, insider Tajinder S. Vohra sold 5,492 shares of the 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 completion of the sale, the insider now directly owns 19,652 shares of the company's stock, valued at approximately $2,295,550.12. This trade represents 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. Also, insider Joel S. Goldberg sold 15,170 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $126.73, for a total value of $1,922,494.10. Following the sale, the insider now directly owns 33,400 shares of the company's stock, valued at $4,232,782. The trade was a 31.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.60% of the company's stock.

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.