Banco Santander S.A. lowered its position in Revvity, Inc. (NYSE:RVTY – Free Report) by 0.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 21,979 shares of the company’s stock after selling 120 shares during the quarter. Banco Santander S.A.’s holdings in Revvity were worth $2,808,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Jane Street Group LLC increased its stake in shares of Revvity by 516.4% in the first quarter. Jane Street Group LLC now owns 453,343 shares of the company’s stock worth $47,601,000 after purchasing an additional 379,802 shares in the last quarter. Quadrature Capital Ltd purchased a new position in Revvity in the 1st quarter valued at approximately $1,267,000. Assenagon Asset Management S.A. raised its holdings in Revvity by 3,171.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 87,180 shares of the company’s stock valued at $9,142,000 after acquiring an additional 84,515 shares during the period. DekaBank Deutsche Girozentrale lifted its position in shares of Revvity by 27.8% during the first quarter. DekaBank Deutsche Girozentrale now owns 84,383 shares of the company’s stock worth $8,790,000 after acquiring an additional 18,367 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Revvity in the first quarter worth $1,214,000. 86.65% of the stock is currently owned by institutional investors.
Revvity Stock Performance
Shares of NYSE RVTY opened at $111.11 on Friday. The stock has a market cap of $13.52 billion, a price-to-earnings ratio of 53.68, a P/E/G ratio of 2.74 and a beta of 1.05. The stock’s 50-day moving average is $120.91 and its 200 day moving average is $115.53. The company has a current ratio of 3.56, a quick ratio of 2.97 and a debt-to-equity ratio of 0.40. Revvity, Inc. has a 1-year low of $86.30 and a 1-year high of $129.50.
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 paid a dividend of $0.07 per share. The ex-dividend date is Friday, January 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.25%. Revvity’s dividend payout ratio (DPR) is currently 13.53%.
Revvity declared that its Board of Directors has approved 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 purchase up to 6.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on RVTY shares. Citigroup increased their price objective on Revvity from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Leerink Partners raised their price objective on shares of Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. upped their target price on shares of Revvity from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Barclays upgraded shares of Revvity from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $125.00 to $140.00 in a research note on Tuesday, October 15th. Finally, Raymond James boosted their price target on shares of Revvity from $144.00 to $146.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Revvity has a consensus rating of “Moderate Buy” and an average target price of $132.07.
Check Out Our Latest Analysis on RVTY
Insider Transactions at Revvity
In other news, insider Tajinder S. Vohra sold 2,154 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total value of $262,206.42. Following the transaction, the insider now owns 19,652 shares in the company, valued at approximately $2,392,237.96. This trade represents a 9.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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.
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