Pathstone Holdings LLC Acquires 8,791 Shares of Revvity, Inc. (NYSE:RVTY)

Pathstone Holdings LLC boosted its holdings in Revvity, Inc. (NYSE:RVTY - Free Report) by 70.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,358 shares of the company's stock after purchasing an additional 8,791 shares during the quarter. Pathstone Holdings LLC's holdings in Revvity were worth $2,728,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of RVTY. Quest Partners LLC acquired a new stake in Revvity during the 3rd quarter worth approximately $126,000. Gladius Capital Management LP purchased a new position in shares of Revvity in the 3rd quarter valued at $32,000. Natixis Advisors LLC lifted its holdings in shares of Revvity by 17.9% during the 3rd quarter. Natixis Advisors LLC now owns 12,499 shares of the company's stock valued at $1,597,000 after acquiring an additional 1,901 shares in the last quarter. Empowered Funds LLC purchased a new stake in Revvity during the 3rd quarter worth $227,000. Finally, Empirical Finance LLC increased its holdings in Revvity by 2.0% in the 3rd quarter. Empirical Finance LLC now owns 4,237 shares of the company's stock valued at $541,000 after purchasing an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 86.65% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Raymond James upped their target price on Revvity from $144.00 to $146.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 5th. TD Cowen increased their price objective on shares of Revvity from $141.00 to $144.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Jefferies Financial Group lifted their price objective on shares of Revvity from $115.00 to $125.00 and gave the company a "hold" rating in a research note on Monday, July 29th. JPMorgan Chase & Co. upped their target price on shares of Revvity from $105.00 to $120.00 and gave the company a "neutral" rating in a research note on Tuesday, July 30th. Finally, Wells Fargo & Company initiated coverage on shares of Revvity in a research note on Tuesday, August 27th. They set an "equal weight" rating and a $130.00 price target on the stock. 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. According to data from MarketBeat.com, Revvity presently has a consensus rating of "Moderate Buy" and a consensus target price of $131.73.

Revvity Stock Performance

NYSE:RVTY traded up $0.41 during trading hours on Tuesday, reaching $115.07. 990,389 shares of the stock were exchanged, compared to its average volume of 844,141. The company has a quick ratio of 2.97, a current ratio of 3.56 and a debt-to-equity ratio of 0.40. Revvity, Inc. has a 52 week low of $86.30 and a 52 week high of $129.50. The firm has a 50 day simple moving average of $120.37 and a 200-day simple moving average of $115.81. The stock has a market capitalization of $14.00 billion, a P/E ratio of 55.39, a P/E/G ratio of 2.80 and a beta of 1.05.

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

Revvity Announces Dividend

The company also recently disclosed 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 is Friday, January 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.24%. Revvity's dividend payout ratio (DPR) is 13.53%.

Revvity announced that its board has authorized a share buyback program on Monday, November 4th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to repurchase up to 6.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

Insider Activity

In related news, insider Tajinder S. Vohra sold 2,154 shares of the business'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 directly owns 19,652 shares of the company's stock, valued at approximately $2,392,237.96. The trade was a 9.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.