Metis Global Partners LLC Buys 481 Shares of Revvity, Inc. (NYSE:RVTY)

Metis Global Partners LLC grew its position in shares of Revvity, Inc. (NYSE:RVTY) by 6.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,825 shares of the company’s stock after purchasing an additional 481 shares during the period. Metis Global Partners LLC’s holdings in Revvity were worth $1,000,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Janus Henderson Group PLC grew its position in Revvity by 3.9% during the 1st quarter. Janus Henderson Group PLC now owns 5,664,528 shares of the company’s stock worth $594,769,000 after acquiring an additional 210,100 shares during the last quarter. EdgePoint Investment Group Inc. purchased a new position in shares of Revvity during the second quarter valued at about $209,221,000. Dimensional Fund Advisors LP raised its position in shares of Revvity by 5.3% in the 2nd 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 in the last quarter. Ceredex Value Advisors LLC lifted its position in Revvity by 2.2% during the second quarter. Ceredex Value Advisors LLC now owns 1,094,938 shares of the company’s stock valued at $114,815,000 after buying an additional 23,318 shares during the period. Finally, RGM Capital LLC increased its stake in shares of Revvity by 6.7% in the 2nd quarter. RGM Capital LLC now owns 950,858 shares of the company’s stock worth $99,707,000 after acquiring an additional 59,994 shares in the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RVTY has been the subject of several recent analyst reports. 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. Robert W. Baird raised their target price on Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. upped their price objective on Revvity from $105.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Raymond James raised their target price on shares of Revvity from $144.00 to $146.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Finally, Jefferies Financial Group upped their price objective on Revvity from $115.00 to $125.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Seven equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.07.

Insider Buying and Selling at Revvity

In other news, insider Tajinder S. Vohra sold 2,154 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total transaction of $262,206.42. Following the transaction, the insider now directly 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.60% of the stock is owned by corporate insiders.

Revvity Price Performance

Shares of Revvity stock opened at $109.52 on Monday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.97 and a current ratio of 3.56. The stock has a 50 day moving average price of $121.52 and a 200-day moving average price of $115.35. The stock has a market cap of $13.33 billion, a price-to-earnings ratio of 52.91, a price-to-earnings-growth ratio of 2.73 and a beta of 1.05. Revvity, Inc. has a one year low of $86.30 and a one year high of $129.50.

Revvity (NYSE:RVTY) last announced 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. Revvity had a return on equity of 7.42% and a net margin of 9.34%. The business had revenue of $684.10 million during the quarter, compared to analyst estimates of $679.66 million. During the same quarter in the previous year, the business earned $1.18 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities analysts expect that Revvity, Inc. will post 4.85 EPS for the current year.

Revvity Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.26%. Revvity’s payout ratio is 13.53%.

Revvity declared that its Board of Directors has initiated a stock repurchase program on Monday, November 4th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 6.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.

About Revvity

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.