Daiwa Securities Group Inc. Raises Holdings in Revvity, Inc. (NYSE:RVTY)

Daiwa Securities Group Inc. lifted its holdings in Revvity, Inc. (NYSE:RVTY) by 7.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,562 shares of the company’s stock after purchasing an additional 1,734 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Revvity were worth $3,010,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. EdgePoint Investment Group Inc. bought a new position in Revvity during the 2nd quarter valued at about $209,221,000. Dimensional Fund Advisors LP raised its holdings in shares of Revvity by 5.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,149,122 shares of the company’s stock valued at $120,506,000 after purchasing an additional 57,656 shares during the last quarter. Ceredex Value Advisors LLC lifted its position in Revvity by 2.2% during the second quarter. Ceredex Value Advisors LLC now owns 1,094,938 shares of the company’s stock valued at $114,815,000 after purchasing an additional 23,318 shares during the period. RGM Capital LLC boosted its holdings in Revvity by 6.7% in the second quarter. RGM Capital LLC now owns 950,858 shares of the company’s stock worth $99,707,000 after purchasing an additional 59,994 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Revvity by 0.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 921,411 shares of the company’s stock worth $117,710,000 after purchasing an additional 4,022 shares during the period. 86.65% of the stock is owned by institutional investors.

Revvity Price Performance

Shares of Revvity stock opened at $116.23 on Thursday. The stock has a market cap of $14.15 billion, a price-to-earnings ratio of 56.15, a price-to-earnings-growth ratio of 2.86 and a beta of 1.05. The stock has a 50 day moving average price of $120.05 and a 200-day moving average price of $115.89. Revvity, Inc. has a one year low of $86.30 and a one year high of $129.50. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.97 and a current ratio of 3.56.

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

Revvity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.24%. Revvity’s dividend payout ratio (DPR) is presently 13.53%.

Revvity announced that its Board of Directors has initiated a share buyback plan on Monday, November 4th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase up to 6.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Robert W. Baird raised their price target on Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Wells Fargo & Company initiated coverage on Revvity in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $130.00 price target for the company. Barclays reduced their price objective on Revvity from $140.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday. Raymond James lifted their price target on shares of Revvity from $144.00 to $146.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, Sanford C. Bernstein dropped their price objective on Revvity from $150.00 to $145.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.73.

Insider Activity

In related news, insider Tajinder S. Vohra sold 2,153 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $122.09, for a total transaction of $262,859.77. Following the completion of the transaction, the insider now owns 23,960 shares in the company, valued at $2,925,276.40. The trade was a 8.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.60% of the company’s stock.

Revvity 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.