Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Position in Revvity, Inc. (NYSE:RVTY)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Revvity, Inc. (NYSE:RVTY) by 23.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,805 shares of the company’s stock after buying an additional 7,237 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Revvity were worth $4,830,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. EdgePoint Investment Group Inc. purchased a new position in shares of Revvity in the 2nd quarter valued at $209,221,000. Dimensional Fund Advisors LP grew its stake in Revvity by 5.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,149,122 shares of the company’s stock valued at $120,506,000 after purchasing an additional 57,656 shares during the last quarter. Ceredex Value Advisors LLC raised its holdings in Revvity by 2.2% in 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 position in shares of Revvity by 3.2% during the third quarter. RGM Capital LLC now owns 980,858 shares of the company’s stock valued at $125,305,000 after buying an additional 30,000 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings 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 valued at $117,710,000 after buying an additional 4,022 shares in the last quarter. Institutional investors own 86.65% of the company’s stock.

Revvity Price Performance

Shares of NYSE:RVTY opened at $116.69 on Tuesday. Revvity, Inc. has a twelve month low of $88.62 and a twelve month high of $129.50. The company has a current ratio of 3.56, a quick ratio of 2.97 and a debt-to-equity ratio of 0.40. The company has a market cap of $14.20 billion, a PE ratio of 56.37, a price-to-earnings-growth ratio of 3.57 and a beta of 1.05. The company’s 50 day moving average is $119.60 and its 200 day moving average is $116.15.

Revvity (NYSE:RVTY) last issued its earnings results on Monday, November 4th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.15. The firm had revenue of $684.10 million during the quarter, compared to analysts’ expectations of $679.66 million. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.18 earnings per share. On average, sell-side analysts forecast that Revvity, Inc. will post 4.85 EPS for the current year.

Revvity Announces Dividend

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

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

Wall Street Analyst Weigh In

Several research analysts recently commented on RVTY shares. Raymond James boosted 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. Sanford C. Bernstein reduced their price target on Revvity from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Wells Fargo & Company assumed coverage on Revvity in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 price objective for the company. Leerink Partners upped their target price on Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Robert W. Baird raised their price target on Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.73.

Insider Transactions at Revvity

In related news, insider Tajinder S. Vohra sold 2,153 shares of Revvity stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 23,960 shares in the company, valued at approximately $2,925,276.40. This trade represents a 8.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.60% of the company’s stock.

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.