Daiwa Securities Group Inc. Grows Position in Revvity, Inc. (NYSE:RVTY)

Daiwa Securities Group Inc. raised its holdings in shares of Revvity, Inc. (NYSE:RVTY) by 7.9% during the third quarter, according to its most recent filing with the SEC. The firm owned 23,562 shares of the company’s stock after purchasing an additional 1,734 shares during the period. Daiwa Securities Group Inc.’s holdings in Revvity were worth $3,010,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. EdgePoint Investment Group Inc. purchased a new position in Revvity during the second quarter valued at approximately $209,221,000. Dimensional Fund Advisors LP lifted its holdings in Revvity by 5.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,149,122 shares of the company’s stock worth $120,506,000 after buying an additional 57,656 shares during the period. Ceredex Value Advisors LLC boosted its position in Revvity by 2.2% during the 2nd quarter. Ceredex Value Advisors LLC now owns 1,094,938 shares of the company’s stock valued at $114,815,000 after acquiring an additional 23,318 shares in the last quarter. RGM Capital LLC increased its holdings in shares of Revvity by 6.7% in the 2nd quarter. RGM Capital LLC now owns 950,858 shares of the company’s stock valued at $99,707,000 after acquiring an additional 59,994 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in shares of 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 acquiring an additional 4,022 shares in the last quarter. Institutional investors own 86.65% of the company’s stock.

Revvity Stock Up 1.0 %

Shares of RVTY opened at $116.23 on Thursday. Revvity, Inc. has a 52 week low of $86.30 and a 52 week high of $129.50. The company has a market capitalization of $14.15 billion, a price-to-earnings ratio of 56.15, a PEG ratio of 2.86 and a beta of 1.05. The stock’s 50-day moving average price is $120.05 and its 200-day moving average price is $115.89. The company has a quick ratio of 2.97, a current ratio of 3.56 and a debt-to-equity ratio of 0.40.

Revvity (NYSE:RVTY) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $679.66 million. During the same quarter in the prior year, the firm posted $1.18 earnings per share. The company’s revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts predict that Revvity, Inc. will post 4.85 EPS for the current year.

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

Revvity Announces Dividend

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

Insider Activity

In related news, insider Tajinder S. Vohra sold 2,154 shares of Revvity stock in a transaction 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 sale, the insider now owns 19,652 shares of the company’s stock, valued at approximately $2,392,237.96. This trade represents a 9.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

RVTY has been the topic of several analyst reports. Sanford C. Bernstein cut their target price on Revvity from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Raymond James lifted their price objective on shares of Revvity from $144.00 to $146.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Leerink Partners raised their target price on shares of Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. TD Cowen boosted their price target on Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Robert W. Baird upped their target price on Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Seven 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.73.

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.