UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Stake in Revvity, Inc. (NYSE:RVTY)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Revvity, Inc. (NYSE:RVTY) by 7.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 684,078 shares of the company’s stock after purchasing an additional 48,700 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.56% of Revvity worth $87,391,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Assenagon Asset Management S.A. raised its position in Revvity by 3,171.3% in the second quarter. Assenagon Asset Management S.A. now owns 87,180 shares of the company’s stock valued at $9,142,000 after purchasing an additional 84,515 shares during the period. Artemis Investment Management LLP raised its holdings in shares of Revvity by 21.3% in the 2nd quarter. Artemis Investment Management LLP now owns 107,634 shares of the company’s stock valued at $11,287,000 after buying an additional 18,916 shares during the period. Bretton Capital Management LLC purchased a new stake in shares of Revvity in the 3rd quarter valued at $1,405,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Revvity by 76.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,568 shares of the company’s stock worth $3,205,000 after acquiring an additional 13,283 shares in the last quarter. Finally, Gateway Investment Advisers LLC boosted its holdings in Revvity by 942.5% during the 3rd quarter. Gateway Investment Advisers LLC now owns 38,081 shares of the company’s stock valued at $4,865,000 after acquiring an additional 34,428 shares during the period. 86.65% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RVTY. 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 research note on Tuesday, November 5th. Raymond James upped their target price 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. Sanford C. Bernstein decreased their price target on shares of Revvity from $150.00 to $145.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Wells Fargo & Company began coverage on Revvity in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $130.00 price objective on the stock. Finally, TD Cowen boosted 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 assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $131.73.

Insider Buying and Selling at Revvity

In other news, insider Tajinder S. Vohra sold 2,153 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $122.09, for a total value of $262,859.77. Following the completion of the sale, the insider now directly owns 23,960 shares of the company’s stock, valued at approximately $2,925,276.40. This represents a 8.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.60% of the stock is owned by company insiders.

Revvity Price Performance

RVTY stock opened at $116.69 on Tuesday. The business has a 50 day moving average price of $119.60 and a 200 day moving average price of $116.15. 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 stock has a market cap of $14.20 billion, a price-to-earnings ratio of 56.37, a PEG ratio of 3.57 and a beta of 1.05. Revvity, Inc. has a fifty-two week low of $88.62 and a fifty-two week high of $129.50.

Revvity (NYSE:RVTY) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.15. The business had revenue of $684.10 million during the quarter, compared to the consensus estimate of $679.66 million. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.18 EPS. Equities research analysts anticipate that Revvity, Inc. will post 4.85 earnings per share for the current fiscal year.

Revvity Announces Dividend

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

Revvity declared that its Board of Directors has initiated a stock buyback plan on Monday, November 4th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 6.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

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.