Guinness Asset Management LTD Purchases 701 Shares of Revvity, Inc. (NYSE:RVTY)

Guinness Asset Management LTD raised its position in shares of Revvity, Inc. (NYSE:RVTY) by 18.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,564 shares of the company’s stock after purchasing an additional 701 shares during the quarter. Guinness Asset Management LTD’s holdings in Revvity were worth $509,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in shares of Revvity by 5.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,149,122 shares of the company’s stock worth $120,506,000 after acquiring an additional 57,656 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in Revvity by 21.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,078 shares of the company’s stock worth $1,353,000 after purchasing an additional 2,337 shares during the period. First Eagle Investment Management LLC grew its holdings in Revvity by 8.5% during the 2nd quarter. First Eagle Investment Management LLC now owns 2,565 shares of the company’s stock valued at $269,000 after buying an additional 200 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Revvity by 46.5% during the second quarter. Canada Pension Plan Investment Board now owns 13,377 shares of the company’s stock valued at $1,403,000 after buying an additional 4,246 shares during the last quarter. Finally, AE Wealth Management LLC raised its position in shares of Revvity by 20.2% during the second quarter. AE Wealth Management LLC now owns 12,255 shares of the company’s stock valued at $1,285,000 after buying an additional 2,061 shares during the last quarter. 86.65% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Revvity news, insider Tajinder S. Vohra sold 5,492 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total transaction of $641,520.52. Following the transaction, the insider now owns 19,652 shares of the company’s stock, valued at approximately $2,295,550.12. This trade represents a 21.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.60% of the stock is currently owned by company insiders.

Revvity Stock Performance

Revvity stock opened at $118.29 on Monday. Revvity, Inc. has a 1-year low of $97.32 and a 1-year high of $129.50. The company’s 50-day moving average is $114.94 and its 200 day moving average is $117.66. The firm has a market capitalization of $14.40 billion, a P/E ratio of 57.15, a price-to-earnings-growth ratio of 3.37 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.56 and a quick ratio of 2.97.

Revvity (NYSE:RVTY) last announced 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. The company had revenue of $684.10 million during 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%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the business posted $1.18 EPS. Research analysts forecast that Revvity, Inc. will post 4.84 EPS for the current year.

Revvity announced that its board has approved a share buyback plan on Monday, November 4th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire up to 6.5% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Revvity Dividend Announcement

The company also recently disclosed 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 of this dividend is Friday, January 17th. This represents a $0.28 annualized dividend and a yield of 0.24%. Revvity’s dividend payout ratio (DPR) is currently 13.53%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on RVTY shares. Barclays dropped their target price on shares of Revvity from $140.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Leerink Partners raised their price objective on Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Raymond James boosted their target price on Revvity from $144.00 to $146.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Bank of America upgraded Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price target for the company in a report on Friday, December 13th. Finally, Robert W. Baird lifted their price objective on Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Revvity currently has an average rating of “Moderate Buy” and a consensus price target of $132.46.

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.