Fmr LLC Buys 45,040 Shares of Revvity, Inc. (NYSE:RVTY)

Fmr LLC grew its stake in shares of Revvity, Inc. (NYSE:RVTY) by 40.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 155,556 shares of the company’s stock after buying an additional 45,040 shares during the period. Fmr LLC owned 0.13% of Revvity worth $19,872,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of RVTY. Rothschild Investment LLC purchased a new position in Revvity during the second quarter worth $25,000. Gladius Capital Management LP purchased a new position in Revvity during the third quarter worth $32,000. EverSource Wealth Advisors LLC boosted its stake in Revvity by 74.2% during the second quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company’s stock worth $41,000 after buying an additional 167 shares during the period. Family Firm Inc. purchased a new position in Revvity during the second quarter worth $43,000. Finally, Fairfield Financial Advisors LTD purchased a new position in Revvity during the second quarter worth $43,000. Institutional investors own 86.65% of the company’s stock.

Insiders Place Their Bets

In other news, insider Tajinder S. Vohra sold 2,153 shares of Revvity stock in a transaction on Monday, October 7th. The stock was sold at an average price of $122.09, for a total transaction of $262,859.77. Following the transaction, the insider now owns 23,960 shares in the company, valued at $2,925,276.40. The trade was a 8.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

Revvity Trading Down 2.0 %

Revvity stock opened at $117.84 on Wednesday. The company has a current ratio of 3.56, a quick ratio of 2.97 and a debt-to-equity ratio of 0.40. Revvity, Inc. has a 12 month low of $88.90 and a 12 month high of $129.50. The stock’s 50 day simple moving average is $118.72 and its two-hundred day simple moving average is $116.31. The firm has a market cap of $14.34 billion, a PE ratio of 56.93, a P/E/G ratio of 3.58 and a beta of 1.03.

Revvity (NYSE:RVTY) last announced its earnings results on Monday, November 4th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $679.66 million. During the same quarter last year, the firm posted $1.18 EPS. The business’s revenue was up 2.1% on a year-over-year basis. Analysts anticipate that Revvity, Inc. will post 4.85 earnings per share for the current year.

Revvity declared that its board has approved a stock repurchase program on Monday, November 4th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 6.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Revvity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be paid a dividend of $0.07 per share. The ex-dividend date is Friday, January 17th. This represents a $0.28 annualized dividend and a yield of 0.24%. Revvity’s dividend payout ratio (DPR) is presently 13.53%.

Analyst Upgrades and Downgrades

Several research analysts have commented on RVTY shares. Raymond James lifted their price objective on shares of Revvity from $144.00 to $146.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. TD Cowen boosted their target price on shares of Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Leerink Partners boosted their target price on shares of Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Robert W. Baird boosted their target price on shares of Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Finally, Barclays lowered their target price on shares of Revvity from $140.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $131.73.

About Revvity

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.