Handelsbanken Fonder AB Grows Position in Revvity, Inc. (NYSE:RVTY)

Handelsbanken Fonder AB increased its holdings in Revvity, Inc. (NYSE:RVTY) by 4.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,960 shares of the company’s stock after acquiring an additional 1,600 shares during the quarter. Handelsbanken Fonder AB’s holdings in Revvity were worth $3,790,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in Revvity by 13.7% in the third quarter. JPMorgan Chase & Co. now owns 344,115 shares of the company’s stock worth $43,961,000 after purchasing an additional 41,497 shares in the last quarter. Contravisory Investment Management Inc. lifted its position in shares of Revvity by 1,715.9% during the 4th quarter. Contravisory Investment Management Inc. now owns 69,186 shares of the company’s stock valued at $7,722,000 after buying an additional 65,376 shares in the last quarter. Bretton Capital Management LLC purchased a new position in shares of Revvity during the 3rd quarter valued at approximately $1,405,000. FMR LLC lifted its position in shares of Revvity by 40.8% during the 3rd quarter. FMR LLC now owns 155,556 shares of the company’s stock valued at $19,872,000 after buying an additional 45,040 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of Revvity by 12,674.8% during the 3rd quarter. International Assets Investment Management LLC now owns 13,669 shares of the company’s stock valued at $1,746,000 after buying an additional 13,562 shares in the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Joel S. Goldberg sold 15,170 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $126.73, for a total transaction of $1,922,494.10. Following the completion of the sale, the insider now directly owns 33,400 shares of the company’s stock, valued at approximately $4,232,782. This trade represents a 31.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Tajinder S. Vohra sold 5,492 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total value of $641,520.52. Following 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. Corporate insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

RVTY has been the topic of a number of recent analyst reports. Robert W. Baird increased their target price on Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Raymond James reiterated an “outperform” rating and set a $145.00 target price (up previously from $140.00) on shares of Revvity in a research report on Monday, February 3rd. TD Cowen increased their target price on Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Sanford C. Bernstein downgraded Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price objective for the company. in a research note on Friday, January 10th. Finally, KeyCorp increased their price objective on Revvity from $132.00 to $145.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Revvity has a consensus rating of “Moderate Buy” and an average price target of $136.25.

Revvity Stock Down 0.9 %

Shares of RVTY opened at $113.72 on Monday. Revvity, Inc. has a 52-week low of $97.32 and a 52-week high of $129.50. The company has a market capitalization of $13.84 billion, a PE ratio of 51.46, a price-to-earnings-growth ratio of 3.82 and a beta of 1.03. The stock has a fifty day simple moving average of $116.76 and a two-hundred day simple moving average of $118.62. The company has a quick ratio of 3.03, a current ratio of 3.60 and a debt-to-equity ratio of 0.41.

Revvity (NYSE:RVTY) last issued its 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 return on equity of 7.68% and a net margin of 9.81%. During the same period in the prior year, the firm posted $1.25 earnings per share. As a group, equities analysts forecast that Revvity, Inc. will post 4.94 EPS for the current year.

Revvity declared that its Board of Directors has approved a share 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 stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Revvity Dividend Announcement

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

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.