Bank of Montreal Can Trims Stock Position in Revvity, Inc. (NYSE:RVTY)

Bank of Montreal Can trimmed its holdings in shares of Revvity, Inc. (NYSE:RVTY - Free Report) by 7.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 123,075 shares of the company's stock after selling 10,345 shares during the quarter. Bank of Montreal Can owned approximately 0.10% of Revvity worth $15,515,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of RVTY. EdgePoint Investment Group Inc. bought a new stake in shares of Revvity in the 2nd quarter valued at about $209,221,000. Dimensional Fund Advisors LP grew its holdings in Revvity by 5.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,149,122 shares of the company's stock worth $120,506,000 after purchasing an additional 57,656 shares during the last quarter. Ceredex Value Advisors LLC increased its position in shares of Revvity by 2.2% during the second quarter. Ceredex Value Advisors LLC now owns 1,094,938 shares of the company's stock worth $114,815,000 after purchasing an additional 23,318 shares in the last quarter. RGM Capital LLC lifted its holdings in shares of Revvity by 6.7% during the 2nd quarter. RGM Capital LLC now owns 950,858 shares of the company's stock valued at $99,707,000 after purchasing an additional 59,994 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Revvity by 0.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 921,411 shares of the company's stock worth $117,710,000 after purchasing an additional 4,022 shares in the last quarter. Institutional investors own 86.65% of the company's stock.

Revvity Stock Performance

Shares of NYSE:RVTY traded down $0.09 during trading on Friday, hitting $116.14. 389,640 shares of the stock traded hands, compared to its average volume of 1,099,678. The company has a quick ratio of 2.97, a current ratio of 3.56 and a debt-to-equity ratio of 0.40. The company has a fifty day moving average price of $119.71 and a two-hundred day moving average price of $116.09. Revvity, Inc. has a 52-week low of $87.58 and a 52-week high of $129.50. The company has a market cap of $14.13 billion, a price-to-earnings ratio of 56.11, a P/E/G ratio of 3.57 and a beta of 1.05.

Revvity (NYSE:RVTY - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $679.66 million. During the same quarter in the previous year, the company earned $1.18 earnings per share. The firm's revenue for the quarter was up 2.1% on a year-over-year basis. As a group, equities analysts predict that Revvity, Inc. will post 4.85 EPS for the current year.

Revvity Announces Dividend

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

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on RVTY shares. Raymond James increased their price target on Revvity from $144.00 to $146.00 and gave the company an "outperform" rating in a research note on Tuesday, November 5th. Barclays dropped their target price on shares of Revvity from $140.00 to $135.00 and set an "overweight" rating on the stock in a research report on Monday, November 25th. Wells Fargo & Company started 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. Robert W. Baird boosted their price objective on shares of Revvity from $136.00 to $138.00 and gave the company an "outperform" rating in a report on Tuesday, November 5th. Finally, TD Cowen raised their target price on Revvity from $141.00 to $144.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. Seven research 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 stock. Based on data from MarketBeat.com, Revvity presently has an average rating of "Moderate Buy" and an average price target of $131.73.

Insider Activity

In other news, insider Tajinder S. Vohra sold 2,154 shares of the firm's stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $121.73, for a total value of $262,206.42. Following the transaction, the insider now owns 19,652 shares in the company, valued at $2,392,237.96. This trade represents a 9.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company 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.