State Street Corp Acquires 17,832 Shares of Revvity, Inc. (NYSE:RVTY)

State Street Corp raised its holdings in shares of Revvity, Inc. (NYSE:RVTY - Free Report) by 0.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,180,169 shares of the company's stock after purchasing an additional 17,832 shares during the quarter. State Street Corp owned 4.26% of Revvity worth $661,767,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Assenagon Asset Management S.A. grew its stake in shares of Revvity by 3,171.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 87,180 shares of the company's stock worth $9,142,000 after acquiring an additional 84,515 shares in the last quarter. Bretton Capital Management LLC purchased a new position in shares of Revvity in the 3rd quarter worth about $1,405,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Revvity by 76.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,568 shares of the company's stock worth $3,205,000 after buying an additional 13,283 shares during the last quarter. Gateway Investment Advisers LLC boosted its holdings in shares of Revvity by 942.5% in the 3rd quarter. Gateway Investment Advisers LLC now owns 38,081 shares of the company's stock worth $4,865,000 after buying an additional 34,428 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Revvity by 12,674.8% in the 3rd quarter. International Assets Investment Management LLC now owns 13,669 shares of the company's stock worth $1,746,000 after buying an additional 13,562 shares during the last quarter. Institutional investors own 86.65% of the company's stock.

Insider Buying and Selling

In related news, insider Tajinder S. Vohra sold 2,154 shares of the company'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 value of $262,206.42. Following the transaction, the insider now directly owns 19,652 shares in the company, valued at approximately $2,392,237.96. This represents a 9.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.60% of the stock is owned by company insiders.

Revvity Price Performance

Shares of RVTY traded up $3.83 during midday trading on Monday, hitting $120.29. 709,488 shares of the company traded hands, compared to its average volume of 840,493. The stock has a 50-day moving average of $118.87 and a 200-day moving average of $116.25. Revvity, Inc. has a one year low of $88.90 and a one year high of $129.50. The firm has a market cap of $14.64 billion, a P/E ratio of 56.26, a PEG ratio of 3.58 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.56 and a quick ratio of 2.97.

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

Revvity declared that its Board of Directors has approved a share repurchase plan on Monday, November 4th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 6.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Revvity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.23%. The ex-dividend date is Friday, January 17th. Revvity's dividend payout ratio (DPR) is 13.53%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on RVTY shares. TD Cowen boosted their price target on shares of Revvity from $141.00 to $144.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Raymond James boosted their price target on shares of Revvity from $144.00 to $146.00 and gave the stock an "outperform" rating in a report on Tuesday, November 5th. Sanford C. Bernstein cut their price target on shares of Revvity from $150.00 to $145.00 and set an "outperform" rating on the stock in a report on Tuesday, November 5th. Robert W. Baird boosted their price target on shares of Revvity from $136.00 to $138.00 and gave the stock an "outperform" rating in a report on Tuesday, November 5th. Finally, Wells Fargo & Company assumed coverage on shares of Revvity in a report on Tuesday, August 27th. They set an "equal weight" rating and a $130.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Revvity presently has an average rating of "Moderate Buy" and a consensus price target of $131.73.

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.