Mirae Asset Global Investments Co. Ltd. Buys 3,542 Shares of Revvity, Inc. (NYSE:RVTY)

Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Revvity, Inc. (NYSE:RVTY) by 41.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,072 shares of the company’s stock after purchasing an additional 3,542 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Revvity were worth $1,352,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Gladius Capital Management LP purchased a new position in shares of Revvity during the 3rd quarter valued at $32,000. Continuum Advisory LLC grew its position in Revvity by 2,972.7% during the third quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock worth $43,000 after buying an additional 327 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in Revvity by 55.9% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock worth $43,000 after acquiring an additional 138 shares during the last quarter. Avior Wealth Management LLC raised its holdings in shares of Revvity by 7,980.0% in the 3rd quarter. Avior Wealth Management LLC now owns 404 shares of the company’s stock valued at $52,000 after acquiring an additional 399 shares in the last quarter. Finally, Eastern Bank bought a new stake in shares of Revvity during the 3rd quarter valued at about $80,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Insider Activity

In related news, insider Joel S. Goldberg sold 15,170 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $126.73, for a total value of $1,922,494.10. Following the completion of the transaction, the insider now directly owns 33,400 shares of the company’s stock, valued at $4,232,782. This represents a 31.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Tajinder S. Vohra sold 5,492 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $116.81, for a total transaction of $641,520.52. Following the completion of the sale, the insider now owns 19,652 shares of the company’s stock, valued at $2,295,550.12. This trade represents a 21.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

RVTY has been the topic of several research analyst reports. Barclays upped their price objective on shares of Revvity from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. KeyCorp raised their price objective on shares of Revvity from $132.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Bank of America upgraded shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 target price for the company in a research report on Friday, December 13th. Raymond James restated an “outperform” rating and set a $145.00 price target (up previously from $140.00) on shares of Revvity in a research report on Monday, February 3rd. Finally, Sanford C. Bernstein cut Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price objective for the company. in a report on Friday, January 10th. Four equities 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’s stock. According to data from MarketBeat.com, Revvity presently has a consensus rating of “Moderate Buy” and an average target price of $136.25.

Revvity Stock Down 2.1 %

Shares of Revvity stock opened at $112.48 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.03 and a current ratio of 3.60. Revvity, Inc. has a 52-week low of $97.32 and a 52-week high of $129.50. The company’s 50 day moving average price is $117.43 and its 200-day moving average price is $119.22. The stock has a market capitalization of $13.69 billion, a price-to-earnings ratio of 50.90, a P/E/G ratio of 3.97 and a beta of 1.03.

Revvity (NYSE:RVTY) last released its quarterly earnings data on Friday, January 31st. The company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.05. Revvity had a net margin of 9.81% and a return on equity of 7.68%. During the same period in the previous year, the business earned $1.25 EPS. Equities research analysts forecast that Revvity, Inc. will post 4.94 EPS for the current year.

Revvity declared that its Board of Directors has approved a stock repurchase 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 management believes its stock is undervalued.

Revvity Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 18th will be given a $0.07 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.25%. Revvity’s dividend payout ratio is currently 12.67%.

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.