Tocqueville Asset Management L.P. Buys 111,937 Shares of Revvity, Inc. (NYSE:RVTY)

Tocqueville Asset Management L.P. grew its stake in shares of Revvity, Inc. (NYSE:RVTY) by 91.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 234,625 shares of the company’s stock after buying an additional 111,937 shares during the period. Tocqueville Asset Management L.P.’s holdings in Revvity were worth $26,186,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Janus Henderson Group PLC raised its position in shares of Revvity by 1.7% in the third quarter. Janus Henderson Group PLC now owns 6,335,302 shares of the company’s stock worth $809,332,000 after buying an additional 108,401 shares in the last quarter. State Street Corp raised its holdings in shares of Revvity by 0.3% in the 3rd quarter. State Street Corp now owns 5,180,169 shares of the company’s stock valued at $661,767,000 after acquiring an additional 17,832 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Revvity by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,863,793 shares of the company’s stock valued at $364,569,000 after acquiring an additional 25,078 shares during the last quarter. EdgePoint Investment Group Inc. grew its holdings in shares of Revvity by 34.6% during the third quarter. EdgePoint Investment Group Inc. now owns 2,685,775 shares of the company’s stock worth $343,108,000 after purchasing an additional 690,534 shares in the last quarter. Finally, RGM Capital LLC increased its position in shares of Revvity by 3.2% in the third quarter. RGM Capital LLC now owns 980,858 shares of the company’s stock worth $125,305,000 after purchasing an additional 30,000 shares during the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Joel S. Goldberg sold 15,170 shares of Revvity stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $126.73, for a total value of $1,922,494.10. Following the sale, the insider now owns 33,400 shares in the company, valued at $4,232,782. The trade was a 31.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Tajinder S. Vohra sold 5,492 shares of the company’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $116.81, for a total transaction of $641,520.52. Following the completion of the transaction, the insider now owns 19,652 shares of the company’s stock, valued at $2,295,550.12. This trade represents a 21.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Revvity Stock Performance

NYSE:RVTY opened at $113.30 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.03 and a current ratio of 3.60. Revvity, Inc. has a fifty-two week low of $97.32 and a fifty-two week high of $129.50. The business has a 50 day moving average price of $116.97 and a 200-day moving average price of $117.86. The firm has a market cap of $13.61 billion, a PE ratio of 51.27, a price-to-earnings-growth ratio of 3.82 and a beta of 1.06.

Revvity (NYSE:RVTY) last announced its quarterly earnings results on Friday, January 31st. The company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.05. Revvity had a net margin of 9.81% and a return on equity of 7.68%. During the same period last year, the firm posted $1.25 EPS. Equities research analysts predict that Revvity, Inc. will post 4.94 earnings per share for the current year.

Revvity Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 18th will be given a $0.07 dividend. The ex-dividend date is Thursday, April 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.25%. Revvity’s dividend payout ratio is currently 12.67%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on RVTY. Raymond James reiterated an “outperform” rating and set a $145.00 target price (up from $140.00) on shares of Revvity in a research report on Monday, February 3rd. Bank of America upgraded shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 target price for the company in a research report on Friday, December 13th. Sanford C. Bernstein lowered Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price target for the company. in a research note on Friday, January 10th. KeyCorp increased their price objective on Revvity from $132.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Barclays boosted their target price on Revvity from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $136.25.

Revvity 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.