Metis Global Partners LLC Boosts Stock Holdings in Revvity, Inc. (NYSE:RVTY)

Metis Global Partners LLC increased its stake in shares of Revvity, Inc. (NYSE:RVTY) by 6.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,825 shares of the company’s stock after purchasing an additional 481 shares during the quarter. Metis Global Partners LLC’s holdings in Revvity were worth $1,000,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of RVTY. CX Institutional boosted its holdings in Revvity by 1.1% in the third quarter. CX Institutional now owns 7,984 shares of the company’s stock worth $1,020,000 after acquiring an additional 86 shares in the last quarter. Garrison Asset Management LLC increased its stake in shares of Revvity by 0.5% in the 2nd quarter. Garrison Asset Management LLC now owns 21,328 shares of the company’s stock valued at $2,236,000 after purchasing an additional 103 shares in the last quarter. TriaGen Wealth Management LLC lifted its position in shares of Revvity by 2.3% during the 2nd quarter. TriaGen Wealth Management LLC now owns 4,767 shares of the company’s stock valued at $500,000 after buying an additional 107 shares in the last quarter. Guinness Asset Management LTD lifted its holdings in Revvity by 3.3% during the second quarter. Guinness Asset Management LTD now owns 3,587 shares of the company’s stock valued at $376,000 after purchasing an additional 116 shares in the last quarter. Finally, RDA Financial Network boosted its holdings in Revvity by 4.5% in the 2nd quarter. RDA Financial Network now owns 3,204 shares of the company’s stock worth $336,000 after buying an additional 138 shares during the last quarter. 86.65% of the stock is currently owned by institutional investors.

Revvity Stock Performance

Shares of RVTY stock opened at $109.52 on Monday. The stock’s 50-day moving average price is $121.52 and its 200 day moving average price is $115.35. 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 capitalization of $13.33 billion, a PE ratio of 52.91, a price-to-earnings-growth ratio of 2.73 and a beta of 1.05. Revvity, Inc. has a 52-week low of $86.30 and a 52-week high of $129.50.

Revvity (NYSE:RVTY) last issued its quarterly earnings results 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 firm had revenue of $684.10 million during the quarter, compared to the consensus estimate of $679.66 million. Revvity had a return on equity of 7.42% and a net margin of 9.34%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the company earned $1.18 earnings per share. As a group, equities research analysts forecast that Revvity, Inc. will post 4.85 EPS for the current year.

Revvity announced that its board has approved a share 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 reacquire up to 6.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Revvity Dividend Announcement

The company 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. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.26%. Revvity’s payout ratio is currently 13.53%.

Insider Buying and Selling at Revvity

In other Revvity news, insider Tajinder S. Vohra sold 2,153 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was 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 owns 23,960 shares of the company’s stock, valued at approximately $2,925,276.40. This trade represents a 8.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on RVTY shares. Bank of America upped their target price on shares of Revvity from $118.00 to $127.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Barclays raised Revvity from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $125.00 to $140.00 in a research note on Tuesday, October 15th. JPMorgan Chase & Co. increased their price objective on shares of Revvity from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Raymond James lifted their target price on Revvity from $144.00 to $146.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, Robert W. Baird boosted their price objective on Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Seven research 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 company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $132.07.

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.