Banco Santander S.A. Trims Position in Revvity, Inc. (NYSE:RVTY)

Banco Santander S.A. lessened its holdings in shares of Revvity, Inc. (NYSE:RVTY) by 0.5% in the third quarter, Holdings Channel.com reports. The fund owned 21,979 shares of the company’s stock after selling 120 shares during the period. Banco Santander S.A.’s holdings in Revvity were worth $2,808,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RVTY. EdgePoint Investment Group Inc. bought a new position in Revvity in the 2nd quarter worth $209,221,000. Jane Street Group LLC raised its stake in Revvity by 516.4% in the first quarter. Jane Street Group LLC now owns 453,343 shares of the company’s stock worth $47,601,000 after buying an additional 379,802 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Revvity by 3.9% in the first quarter. Janus Henderson Group PLC now owns 5,664,528 shares of the company’s stock worth $594,769,000 after buying an additional 210,100 shares during the period. Magnetar Financial LLC boosted its position in Revvity by 441.3% during the 1st quarter. Magnetar Financial LLC now owns 136,371 shares of the company’s stock valued at $14,319,000 after acquiring an additional 111,178 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Revvity by 3,171.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 87,180 shares of the company’s stock worth $9,142,000 after acquiring an additional 84,515 shares during the period. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Insider Activity

In other Revvity news, insider Tajinder S. Vohra sold 2,154 shares of the business’s stock in a transaction 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 completion of the sale, the insider now directly owns 19,652 shares in the company, valued at approximately $2,392,237.96. The trade was a 9.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.60% of the company’s stock.

Revvity Price Performance

Shares of RVTY opened at $111.11 on Friday. Revvity, Inc. has a twelve month low of $86.30 and a twelve month high of $129.50. The company has a market capitalization of $13.52 billion, a P/E ratio of 53.68, a price-to-earnings-growth ratio of 2.74 and a beta of 1.05. The firm has a 50 day moving average of $120.91 and a 200 day moving average of $115.53. The company has a quick ratio of 2.97, a current ratio of 3.56 and a debt-to-equity ratio of 0.40.

Revvity (NYSE:RVTY) last posted its earnings results on Monday, November 4th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.15. The business had revenue of $684.10 million during 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 quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.18 EPS. As a group, equities research analysts anticipate that Revvity, Inc. will post 4.85 earnings per share for the current fiscal year.

Revvity announced that its board has approved a share 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 stock through open market purchases. Stock buyback plans are usually an indication that the company’s board believes its shares are undervalued.

Revvity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.25%. The ex-dividend date is Friday, January 17th. Revvity’s dividend payout ratio is currently 13.53%.

Wall Street Analyst Weigh In

RVTY has been the subject of a number of research analyst reports. Barclays upgraded Revvity from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $125.00 to $140.00 in a research note on Tuesday, October 15th. Bank of America boosted their target price on shares of Revvity from $118.00 to $127.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. increased their price target on shares of Revvity from $105.00 to $120.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. TD Cowen lifted their price target on shares of Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Citigroup upped their price objective on shares of Revvity from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.07.

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.