Zurcher Kantonalbank Zurich Cantonalbank Purchases 13,283 Shares of Revvity, Inc. (NYSE:RVTY)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Revvity, Inc. (NYSE:RVTY - Free Report) by 76.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,568 shares of the company's stock after acquiring an additional 13,283 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Revvity were worth $3,205,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Capital Research Global Investors purchased a new stake in Revvity in the 4th quarter valued at $838,080,000. Janus Henderson Group PLC grew its holdings in shares of Revvity by 3.9% during the first quarter. Janus Henderson Group PLC now owns 5,664,528 shares of the company's stock worth $594,769,000 after buying an additional 210,100 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Revvity by 18.5% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,126,271 shares of the company's stock valued at $223,258,000 after acquiring an additional 332,632 shares during the period. Norges Bank acquired a new stake in Revvity during the 4th quarter worth approximately $129,483,000. Finally, Northern Trust Corp acquired a new position in shares of Revvity in the fourth quarter valued at approximately $127,401,000. Institutional investors and hedge funds own 86.65% of the company's stock.

Revvity Trading Up 0.3 %

RVTY stock traded up $0.36 on Friday, hitting $122.54. 786,607 shares of the company were exchanged, compared to its average volume of 848,981. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.92. The stock has a market capitalization of $15.12 billion, a price-to-earnings ratio of 101.27, a price-to-earnings-growth ratio of 2.97 and a beta of 1.05. Revvity, Inc. has a twelve month low of $79.50 and a twelve month high of $128.15. The business's fifty day moving average is $114.26 and its two-hundred day moving average is $108.93.

Revvity (NYSE:RVTY - Get Free Report) last released its quarterly earnings data on Monday, July 29th. The company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.10. The business had revenue of $691.70 million for the quarter, compared to analyst estimates of $690.33 million. Revvity had a return on equity of 7.34% and a net margin of 6.26%. The company's revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.21 EPS. As a group, research analysts forecast that Revvity, Inc. will post 4.75 earnings per share for the current year.

Revvity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 18th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.28 annualized dividend and a dividend yield of 0.23%. Revvity's payout ratio is 23.14%.

Insider Buying and Selling

In other Revvity news, insider Joel S. Goldberg sold 3,500 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $117.86, for a total value of $412,510.00. Following the completion of the sale, the insider now owns 33,400 shares of the company's stock, valued at $3,936,524. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Joel S. Goldberg sold 4,000 shares of the firm's stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $110.46, for a total transaction of $441,840.00. Following the completion of the sale, the insider now owns 36,900 shares of the company's stock, valued at $4,075,974. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joel S. Goldberg sold 3,500 shares of the company's stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $117.86, for a total transaction of $412,510.00. Following the completion of the sale, the insider now directly owns 33,400 shares in the company, valued at $3,936,524. The disclosure for this sale can be found here. 0.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on RVTY shares. TD Cowen lifted their price objective on shares of Revvity from $130.00 to $141.00 and gave the company a "buy" rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. raised their price objective on shares of Revvity from $105.00 to $120.00 and gave the company a "neutral" rating in a research report on Tuesday, July 30th. Leerink Partners initiated coverage on Revvity in a report on Monday, July 8th. They issued an "outperform" rating and a $125.00 price target for the company. Wells Fargo & Company initiated coverage on Revvity in a research report on Tuesday. They issued an "equal weight" rating and a $130.00 price objective for the company. Finally, Citigroup raised their price objective on Revvity from $135.00 to $145.00 and gave the company a "buy" rating in a research note on Tuesday, July 30th. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $126.00.

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.