JPMorgan Chase & Co. Boosts Holdings in Revvity, Inc. (NYSE:RVTY)

JPMorgan Chase & Co. raised its position in Revvity, Inc. (NYSE:RVTY) by 13.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 344,115 shares of the company’s stock after acquiring an additional 41,497 shares during the period. JPMorgan Chase & Co.’s holdings in Revvity were worth $43,961,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Bretton Capital Management LLC acquired a new stake in shares of Revvity in the 3rd quarter worth $1,405,000. FMR LLC raised its stake in Revvity by 40.8% in the third quarter. FMR LLC now owns 155,556 shares of the company’s stock valued at $19,872,000 after buying an additional 45,040 shares during the last quarter. Gateway Investment Advisers LLC boosted its holdings in Revvity by 942.5% in the third quarter. Gateway Investment Advisers LLC now owns 38,081 shares of the company’s stock worth $4,865,000 after acquiring an additional 34,428 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of Revvity by 12,674.8% during the third quarter. International Assets Investment Management LLC now owns 13,669 shares of the company’s stock worth $1,746,000 after acquiring an additional 13,562 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Revvity by 3.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 299,723 shares of the company’s stock valued at $38,290,000 after acquiring an additional 9,473 shares in the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Revvity

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. 0.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently commented on RVTY shares. TD Cowen lifted their target price on shares of Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Robert W. Baird lifted their price objective on shares of Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Raymond James upped their target price on Revvity from $144.00 to $146.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Leerink Partners lifted their price target on Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, 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 report on Friday, December 13th. Five analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $133.00.

Revvity Trading Up 1.4 %

Shares of NYSE:RVTY opened at $113.60 on Monday. The company has a market capitalization of $13.83 billion, a PE ratio of 54.88, a PEG ratio of 3.59 and a beta of 1.03. Revvity, Inc. has a 12-month low of $97.32 and a 12-month high of $129.50. The business has a 50 day moving average of $115.71 and a two-hundred day moving average of $116.68. The company has a current ratio of 3.56, a quick ratio of 2.97 and a debt-to-equity ratio of 0.40.

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

Revvity announced that its Board of Directors has initiated a stock 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 reacquire up to 6.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Revvity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date of this dividend is Friday, January 17th. Revvity’s dividend payout ratio (DPR) is presently 13.53%.

Revvity Company 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.