Revvity, Inc. (NYSE:RVTY) Shares Bought by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. increased its stake in Revvity, Inc. (NYSE:RVTY) by 2.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 36,300 shares of the company’s stock after acquiring an additional 729 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Revvity were worth $4,637,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its position in Revvity by 35.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,246 shares of the company’s stock valued at $340,000 after acquiring an additional 844 shares during the period. 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 purchasing an additional 84,515 shares during the period. Blue Trust Inc. increased its position in Revvity by 24.3% during the 2nd quarter. Blue Trust Inc. now owns 1,124 shares of the company’s stock worth $118,000 after purchasing an additional 220 shares in the last quarter. Boston Trust Walden Corp raised its holdings in Revvity by 3.1% in the second quarter. Boston Trust Walden Corp now owns 236,827 shares of the company’s stock valued at $24,834,000 after buying an additional 7,029 shares during the period. Finally, Nisa Investment Advisors LLC lifted its position in Revvity by 0.8% during the second quarter. Nisa Investment Advisors LLC now owns 78,809 shares of the company’s stock valued at $8,264,000 after buying an additional 629 shares in the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Revvity Stock Performance

Shares of Revvity stock opened at $115.97 on Friday. 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 1 year low of $97.32 and a 1 year high of $129.50. The firm’s 50-day simple moving average is $118.25 and its 200-day simple moving average is $116.34. The firm has a market cap of $14.11 billion, a PE ratio of 55.88, a price-to-earnings-growth ratio of 3.59 and a beta of 1.03.

Revvity (NYSE:RVTY) last announced its quarterly earnings data 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. The firm had revenue of $684.10 million for the quarter, compared to analysts’ expectations of $679.66 million. Revvity had a return on equity of 7.42% and a net margin of 9.34%. Revvity’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.18 earnings per share. Equities analysts forecast that Revvity, Inc. will post 4.85 earnings per share for the current fiscal year.

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

Revvity Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date of this dividend is Friday, January 17th. Revvity’s dividend payout ratio is presently 13.53%.

Insider Buying and Selling at Revvity

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on RVTY. Wells Fargo & Company began coverage on shares of Revvity in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 target price on the stock. Bank of America upgraded Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price objective on the stock in a research note on Friday. Raymond James increased their target price on Revvity from $144.00 to $146.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Leerink Partners boosted 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. Finally, Sanford C. Bernstein lowered their price objective on shares of Revvity from $150.00 to $145.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Revvity currently has an average rating of “Moderate Buy” and a consensus price target of $132.47.

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.