Revvity, Inc. (NYSE:RVTY) Holdings Raised by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its stake in Revvity, Inc. (NYSE:RVTY) by 3.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 18,630 shares of the company’s stock after acquiring an additional 637 shares during the quarter. CIBC Asset Management Inc’s holdings in Revvity were worth $2,079,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Gladius Capital Management LP acquired a new stake in shares of Revvity in the 3rd quarter worth approximately $32,000. Continuum Advisory LLC raised its holdings in Revvity by 2,972.7% during the third quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock worth $43,000 after purchasing an additional 327 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in Revvity by 55.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock worth $43,000 after purchasing an additional 138 shares in the last quarter. Avior Wealth Management LLC lifted its position in Revvity by 7,980.0% in the third quarter. Avior Wealth Management LLC now owns 404 shares of the company’s stock worth $52,000 after purchasing an additional 399 shares during the period. Finally, Principal Securities Inc. boosted its stake in Revvity by 54.9% during the 4th quarter. Principal Securities Inc. now owns 598 shares of the company’s stock valued at $67,000 after purchasing an additional 212 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on RVTY shares. Bank of America raised Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price objective on the stock in a research note on Friday, December 13th. 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 report on Tuesday, November 5th. Sanford C. Bernstein lowered shares of Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price objective for the company. in a research report on Friday, January 10th. TD Cowen boosted their target price on shares of Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, Barclays raised their target price on shares of Revvity from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Revvity presently has an average rating of “Moderate Buy” and an average price target of $136.25.

Revvity Stock Down 0.9 %

Shares of NYSE:RVTY opened at $113.72 on Friday. The firm has a 50 day simple moving average of $116.80 and a 200 day simple moving average of $118.68. Revvity, Inc. has a 52 week low of $97.32 and a 52 week high of $129.50. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.03 and a current ratio of 3.60. The company has a market cap of $13.84 billion, a PE ratio of 51.46, a price-to-earnings-growth ratio of 3.83 and a beta of 1.03.

Revvity (NYSE:RVTY) last released its earnings results on Friday, January 31st. The company reported $1.42 earnings per share (EPS) for the quarter, beating 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 last year, the company earned $1.25 earnings per share. As a group, research analysts expect that Revvity, Inc. will post 4.94 earnings per share for the current year.

Revvity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 18th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $0.28 annualized dividend and a yield of 0.25%. Revvity’s dividend payout ratio (DPR) is presently 12.67%.

Revvity announced that its board has authorized a share buyback program 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 programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other Revvity news, insider Tajinder S. Vohra sold 5,492 shares of Revvity stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total transaction of $641,520.52. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Joel S. Goldberg sold 15,170 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $126.73, for a total transaction of $1,922,494.10. Following the transaction, the insider now owns 33,400 shares in the company, valued at approximately $4,232,782. This represents a 31.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is owned by corporate insiders.

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.