Revvity, Inc. (NYSE:RVTY) Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Revvity, Inc. (NYSE:RVTY) by 7.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 684,078 shares of the company’s stock after acquiring an additional 48,700 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Revvity were worth $87,391,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of RVTY. GAMMA Investing LLC increased its position in Revvity by 91.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,265 shares of the company’s stock worth $133,000 after purchasing an additional 604 shares during the period. DNB Asset Management AS grew its holdings in Revvity by 14.4% during the second quarter. DNB Asset Management AS now owns 24,224 shares of the company’s stock worth $2,540,000 after acquiring an additional 3,056 shares during the period. CWM LLC raised its position in Revvity by 13.4% in the second quarter. CWM LLC now owns 2,697 shares of the company’s stock worth $283,000 after acquiring an additional 319 shares in the last quarter. RDA Financial Network lifted its holdings in Revvity by 4.5% in the second quarter. RDA Financial Network now owns 3,204 shares of the company’s stock valued at $336,000 after acquiring an additional 138 shares during the period. Finally, Guinness Asset Management LTD boosted its position in shares of Revvity by 3.3% during the 2nd quarter. Guinness Asset Management LTD now owns 3,587 shares of the company’s stock worth $376,000 after purchasing an additional 116 shares in the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Revvity Price Performance

Revvity stock opened at $116.69 on Tuesday. The stock has a market capitalization of $14.20 billion, a P/E ratio of 56.37, a P/E/G ratio of 3.57 and a beta of 1.05. Revvity, Inc. has a 12-month low of $88.62 and a 12-month high of $129.50. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.56 and a quick ratio of 2.97. The firm’s 50-day moving average is $119.60 and its two-hundred day moving average is $116.15.

Revvity (NYSE:RVTY) last announced its earnings results on Monday, November 4th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.15. The firm had revenue of $684.10 million for the quarter, compared to analyst estimates of $679.66 million. Revvity had a net margin of 9.34% and a return on equity of 7.42%. Revvity’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.18 earnings per share. Equities analysts predict that Revvity, Inc. will post 4.85 earnings per share for the current year.

Revvity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be paid a $0.07 dividend. The ex-dividend date is Friday, January 17th. This represents a $0.28 annualized dividend and a yield of 0.24%. Revvity’s payout ratio is currently 13.53%.

Revvity declared that its Board of Directors has approved a stock repurchase program on Monday, November 4th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to buy up to 6.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wells Fargo & Company assumed coverage on shares of Revvity in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 price objective for the company. Leerink Partners lifted their price target 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. Raymond James upped their price target on Revvity from $144.00 to $146.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Barclays reduced their price objective on Revvity from $140.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Finally, Sanford C. Bernstein lowered their target price on Revvity from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $131.73.

Insider Buying and Selling

In other news, insider Tajinder S. Vohra sold 2,153 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $122.09, for a total transaction of $262,859.77. Following the transaction, the insider now directly owns 23,960 shares in the company, valued at $2,925,276.40. This represents a 8.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.60% of the stock is currently owned by company 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.