Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Revvity Inc. (NYSE:RVTY – Free Report) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 36,117 shares of the company’s stock, valued at approximately $5,522,000.
Several other hedge funds have also recently bought and sold shares of the business. ProShare Advisors LLC lifted its position in Revvity by 1.1% during the third quarter. ProShare Advisors LLC now owns 21,941 shares of the company’s stock valued at $3,355,000 after buying an additional 232 shares in the last quarter. Vise Technologies Inc. purchased a new stake in Revvity during the third quarter worth approximately $262,000. State of Wyoming acquired a new stake in shares of Revvity in the third quarter worth $267,000. Asset Management One Co. Ltd. increased its position in shares of Revvity by 4.1% in the third quarter. Asset Management One Co. Ltd. now owns 5,525 shares of the company’s stock worth $845,000 after acquiring an additional 219 shares in the last quarter. Finally, Leslie Global Wealth LLC acquired a new stake in shares of Revvity in the third quarter worth $306,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.
Revvity Stock Down 5.2%
Shares of NYSE:RVTY opened at $151.12 on Friday. The company has a market capitalization of $16.86 billion, a price-to-earnings ratio of 28.73, a price-to-earnings-growth ratio of 2.80 and a beta of 1.08. The company has a 50 day moving average of $147.08 and a two-hundred day moving average of $113.03. Revvity Inc. has a 52-week low of $81.22 and a 52-week high of $171.74. The company has a quick ratio of 1.50, a current ratio of 2.65 and a debt-to-equity ratio of 0.36.
Revvity (NYSE:RVTY – Get Free Report) last posted its earnings results on Tuesday, November 3rd. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.08. The business had revenue of $728.90 million for the quarter, compared to analysts’ expectations of $694.73 million. Revvity had a net margin of 8.61% and a return on equity of 8.64%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.18 earnings per share. As a group, analysts forecast that Revvity Inc. will post 5.42 earnings per share for the current fiscal year.
Revvity Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, February 12th. Investors of record on Friday, January 22nd will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, January 22nd. This represents a $0.28 annualized dividend and a yield of 0.2%. Revvity’s payout ratio is 13.33%.
Insider Buying and Selling at Revvity
In other Revvity news, insider Tajinder S. Vohra sold 7,330 shares of the company’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $140.88, for a total value of $1,032,650.40. Following the completion of the transaction, the insider directly owned 6,635 shares of the company’s stock, valued at $934,738.80. This represents a 52.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Maxwell Krakowiak sold 1,631 shares of the company’s stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $144.53, for a total transaction of $235,728.43. Following the completion of the transaction, the insider directly owned 14,781 shares of the company’s stock, valued at approximately $2,136,297.93. The trade was a 9.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 9,045 shares of company stock worth $1,281,439 in the last ninety days. 0.85% of the stock is currently owned by insiders.
Trending Headlines about Revvity
Here are the key news stories impacting Revvity this week:
- Positive Sentiment: Revvity reported adjusted earnings of $1.38 per share, beating the $1.30 consensus, while revenue of $728.9 million also exceeded expectations and grew 4.3% year over year. Coverage highlighted AI-related demand and operational execution as growth drivers. RVTY Q3 deep dive: AI demand and operational execution drive broad-based growth
- Positive Sentiment: CFRA upgraded the shares from Hold to Buy. TD Cowen also maintained a Buy rating and raised its price target to $185 from $175, while Barclays lifted its target to $175 from $160. TD Cowen recommendations
- Neutral Sentiment: JPMorgan raised its price target to $160 from $155 but kept a Neutral rating. RBC raised its target sharply, to $172 from $135, while retaining Sector Perform. These target increases suggest improved expectations, but the ratings signal caution from some firms. JPMorgan recommendations
- Negative Sentiment: Despite the earnings beat, coverage raised the question of whether the stock is now too expensive. Its elevated valuation could limit upside or make the shares vulnerable to profit-taking after reaching a one-year high. Revvity reaffirms its dividend: Is the stock now too pricey?
Wall Street Analysts Forecast Growth
RVTY has been the topic of a number of research reports. Evercore reissued an “outperform” rating on shares of Revvity in a research note on Wednesday, August 5th. Cfra raised shares of Revvity from a “hold” rating to a “buy” rating in a research report on Wednesday. Royal Bank Of Canada raised their price objective on Revvity from $135.00 to $172.00 and gave the company a “sector perform” rating in a research report on Wednesday. William Blair initiated coverage on Revvity in a research note on Monday, October 5th. They set an “outperform” rating on the stock. Finally, TD Cowen boosted their price objective on Revvity from $175.00 to $185.00 and gave the stock a “buy” rating in a research note on Wednesday. Six analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $133.86.
Read Our Latest Analysis on Revvity
Revvity Company Profile
Revvity, Inc provides technology, products and services for the life sciences and diagnostics markets. The company supports pharmaceutical and biotechnology research, clinical laboratories and other healthcare organizations with tools used in drug discovery, biological research, disease detection and laboratory testing.
Its offerings include laboratory instruments, reagents, consumables, software and workflow solutions. Key areas include genomics, proteomics, cellular analysis, imaging, screening, automation and reproductive health, as well as newborn screening and other diagnostic applications.
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