JPMorgan Chase & Co. Purchases 41,497 Shares of Revvity, Inc. (NYSE:RVTY)

JPMorgan Chase & Co. grew its position in Revvity, Inc. (NYSE:RVTY) by 13.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 344,115 shares of the company’s stock after purchasing an additional 41,497 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.28% of Revvity worth $43,961,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of RVTY. Principal Financial Group Inc. lifted its stake in shares of Revvity by 3.1% during the 3rd quarter. Principal Financial Group Inc. now owns 141,871 shares of the company’s stock valued at $18,124,000 after buying an additional 4,263 shares in the last quarter. Tidal Investments LLC raised its holdings in Revvity by 2,388.8% during the third quarter. Tidal Investments LLC now owns 52,787 shares of the company’s stock valued at $6,744,000 after acquiring an additional 50,666 shares during the period. Coldstream Capital Management Inc. raised its holdings in Revvity by 5.1% during the third quarter. Coldstream Capital Management Inc. now owns 2,247 shares of the company’s stock valued at $286,000 after acquiring an additional 110 shares during the period. Geode Capital Management LLC lifted its position in shares of Revvity by 0.9% in the third quarter. Geode Capital Management LLC now owns 2,863,793 shares of the company’s stock valued at $364,569,000 after acquiring an additional 25,078 shares in the last quarter. Finally, Guardian Wealth Management Inc. boosted its stake in shares of Revvity by 1.4% in the third quarter. Guardian Wealth Management Inc. now owns 11,796 shares of the company’s stock worth $1,507,000 after acquiring an additional 158 shares during the period. 86.65% of the stock is owned by hedge funds and other institutional investors.

Revvity Stock Up 1.4 %

NYSE:RVTY opened at $113.60 on Monday. The company has a market cap of $13.83 billion, a price-to-earnings ratio of 54.88, a price-to-earnings-growth ratio of 3.59 and a beta of 1.03. Revvity, Inc. has a twelve month low of $97.32 and a twelve month high of $129.50. The company has a current ratio of 3.56, a quick ratio of 2.97 and a debt-to-equity ratio of 0.40. The stock has a fifty day simple moving average of $115.71 and a 200-day simple moving average of $116.68.

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. Analysts anticipate that Revvity, Inc. will post 4.85 EPS for the current year.

Revvity announced that its Board of Directors has authorized a stock repurchase program on Monday, November 4th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to buy up to 6.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Revvity Announces Dividend

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 is Friday, January 17th. This represents a $0.28 annualized dividend and a yield of 0.25%. Revvity’s dividend payout ratio (DPR) is currently 13.53%.

Insiders Place Their Bets

In related news, insider Tajinder S. Vohra sold 2,154 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total value of $262,206.42. Following the completion of the sale, the insider now directly owns 19,652 shares of the company’s stock, valued at $2,392,237.96. This represents a 9.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

RVTY has been the subject of a number of research analyst reports. Bank of America raised shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price objective for the company in a report on Friday, December 13th. Sanford C. Bernstein cut their target price on shares of Revvity from $150.00 to $145.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Robert W. Baird boosted their price target 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 raised their price objective on Revvity from $144.00 to $146.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Finally, Barclays reduced their target price on Revvity from $140.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Five analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $133.00.

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.