Holocene Advisors LP Has $92.74 Million Stock Position in Revvity, Inc. (NYSE:RVTY)

Holocene Advisors LP increased its holdings in Revvity, Inc. (NYSE:RVTY) by 14.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 725,917 shares of the company’s stock after purchasing an additional 92,240 shares during the period. Holocene Advisors LP’s holdings in Revvity were worth $92,736,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. EdgePoint Investment Group Inc. bought a new stake in shares of Revvity during the 2nd quarter valued at about $209,221,000. Dimensional Fund Advisors LP increased its position in Revvity by 5.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,149,122 shares of the company’s stock valued at $120,506,000 after buying an additional 57,656 shares in the last quarter. Ceredex Value Advisors LLC raised its stake in Revvity by 2.2% during the 2nd quarter. Ceredex Value Advisors LLC now owns 1,094,938 shares of the company’s stock worth $114,815,000 after buying an additional 23,318 shares during the period. RGM Capital LLC grew its stake in Revvity by 3.2% in the third quarter. RGM Capital LLC now owns 980,858 shares of the company’s stock valued at $125,305,000 after acquiring an additional 30,000 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Revvity by 0.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 921,411 shares of the company’s stock valued at $117,710,000 after acquiring an additional 4,022 shares in the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Revvity Stock Performance

NYSE RVTY opened at $116.14 on Monday. The company has a market capitalization of $14.13 billion, a P/E ratio of 56.11, a P/E/G ratio of 3.57 and a beta of 1.05. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.97 and a current ratio of 3.56. Revvity, Inc. has a 52-week low of $87.58 and a 52-week high of $129.50. The company has a fifty day moving average of $119.71 and a 200-day moving average of $116.09.

Revvity (NYSE:RVTY) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.13 by $0.15. The firm had revenue of $684.10 million for the quarter, compared to analyst estimates of $679.66 million. Revvity had a return on equity of 7.42% and a net margin of 9.34%. The company’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.18 EPS. As a group, equities research analysts predict that Revvity, Inc. will post 4.85 EPS for the current fiscal year.

Revvity declared that its Board of Directors has authorized a share buyback plan on Monday, November 4th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 6.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

Revvity Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.24%. Revvity’s dividend payout ratio (DPR) is 13.53%.

Insider Activity at Revvity

In other Revvity news, insider Tajinder S. Vohra sold 2,153 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $122.09, for a total transaction of $262,859.77. Following the completion of the transaction, the insider now owns 23,960 shares of the company’s stock, valued at $2,925,276.40. This represents a 8.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

RVTY has been the topic of a number of recent research reports. Sanford C. Bernstein cut their target price on Revvity from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Wells Fargo & Company began coverage on shares of Revvity in a report on Tuesday, August 27th. They set an “equal weight” rating and a $130.00 price objective for the company. Raymond James upped their target price on shares of Revvity from $144.00 to $146.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Barclays decreased their price objective on Revvity from $140.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Finally, TD Cowen raised their target price on Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Revvity has an average rating of “Moderate Buy” and a consensus price target of $131.73.

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.