TD Asset Management Inc raised its position in Revvity, Inc. (NYSE:RVTY - Free Report) by 139.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 100,927 shares of the company's stock after purchasing an additional 58,719 shares during the quarter. TD Asset Management Inc owned about 0.08% of Revvity worth $10,583,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Capital Research Global Investors acquired a new stake in Revvity in the 4th quarter valued at approximately $838,080,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Revvity during the 4th quarter worth about $188,368,000. Norges Bank purchased a new position in Revvity during the 4th quarter valued at about $129,483,000. Northern Trust Corp acquired a new position in Revvity in the 4th quarter valued at about $127,401,000. Finally, Dimensional Fund Advisors LP purchased a new stake in Revvity during the fourth quarter worth about $112,037,000. Hedge funds and other institutional investors own 86.65% of the company's stock.
Revvity Stock Performance
Shares of Revvity stock traded up $2.30 on Tuesday, hitting $121.06. The stock had a trading volume of 800,426 shares, compared to its average volume of 842,350. The stock has a market cap of $14.93 billion, a price-to-earnings ratio of 100.05, a P/E/G ratio of 2.74 and a beta of 1.05. The company has a current ratio of 2.27, a quick ratio of 1.98 and a debt-to-equity ratio of 0.40. Revvity, Inc. has a 52-week low of $79.50 and a 52-week high of $128.15. The company's 50 day moving average price is $116.27 and its 200 day moving average price is $109.73.
Revvity (NYSE:RVTY - Get Free Report) last announced its earnings results on Monday, July 29th. The company reported $1.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.12 by $0.10. Revvity had a net margin of 6.26% and a return on equity of 7.34%. The business had revenue of $691.70 million for the quarter, compared to analyst estimates of $690.33 million. During the same period last year, the firm posted $1.21 earnings per share. The company's revenue for the quarter was down 2.5% compared to the same quarter last year. On average, research analysts anticipate that Revvity, Inc. will post 4.75 EPS for the current year.
Revvity Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 18th will be paid a dividend of $0.07 per share. The ex-dividend date is Friday, October 18th. This represents a $0.28 annualized dividend and a dividend yield of 0.23%. Revvity's dividend payout ratio (DPR) is 23.14%.
Insider Buying and Selling
In related news, insider Joel S. Goldberg sold 3,500 shares of the stock in a transaction on Wednesday, August 7th. The stock was 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 of the company's stock, valued at $3,936,524. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.60% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the stock. Leerink Partnrs upgraded shares of Revvity to a "strong-buy" rating in a report on Monday, July 8th. Leerink Partners began coverage on Revvity in a report on Monday, July 8th. They issued an "outperform" rating and a $125.00 target price for the company. Bank of America upped their price target on Revvity from $118.00 to $127.00 and gave the stock a "neutral" rating in a report on Tuesday, July 30th. Citigroup raised their target price on shares of Revvity from $135.00 to $145.00 and gave the company a "buy" rating in a report on Tuesday, July 30th. Finally, Barclays lifted their price target on shares of Revvity from $115.00 to $125.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 30th. Eight 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 company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $126.00.
Read Our Latest Report on RVTY
Revvity Company Profile
(
Free Report)
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.
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