Cinctive Capital Management LP Makes New $2.31 Million Investment in Revvity, Inc. (NYSE:RVTY)

Cinctive Capital Management LP acquired a new position in shares of Revvity, Inc. (NYSE:RVTY) in the 3rd quarter, Holdings Channel reports. The fund acquired 18,068 shares of the company’s stock, valued at approximately $2,308,000.

A number of other large investors have also recently made changes to their positions in RVTY. Assenagon Asset Management S.A. lifted its position in 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. Artemis Investment Management LLP lifted its holdings in shares of Revvity by 21.3% during the second quarter. Artemis Investment Management LLP now owns 107,634 shares of the company’s stock worth $11,287,000 after purchasing an additional 18,916 shares during the period. Bretton Capital Management LLC purchased a new stake in Revvity in the third quarter valued at approximately $1,405,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Revvity by 76.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,568 shares of the company’s stock worth $3,205,000 after buying an additional 13,283 shares during the period. Finally, Gateway Investment Advisers LLC raised its position in Revvity by 942.5% during the 3rd quarter. Gateway Investment Advisers LLC now owns 38,081 shares of the company’s stock worth $4,865,000 after buying an additional 34,428 shares during the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Revvity

In related news, insider Tajinder S. Vohra sold 2,154 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

RVTY has been the topic of a number of research reports. Barclays cut their price objective on shares of Revvity from $140.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. TD Cowen increased their price target on Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Raymond James boosted their price objective on Revvity from $144.00 to $146.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Wells Fargo & Company assumed coverage on Revvity in a report on Tuesday, August 27th. They set an “equal weight” rating and a $130.00 target price on the stock. Finally, Robert W. Baird boosted their price target on Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $131.73.

Revvity Trading Up 0.5 %

Shares of Revvity stock opened at $116.69 on Tuesday. The company has a current ratio of 3.56, a quick ratio of 2.97 and a debt-to-equity ratio of 0.40. Revvity, Inc. has a twelve month low of $88.62 and a twelve month high of $129.50. The firm has a market capitalization of $14.20 billion, a PE ratio of 56.37, a P/E/G ratio of 3.57 and a beta of 1.05. The firm’s 50-day moving average price is $119.60 and its 200 day moving average price is $116.15.

Revvity (NYSE:RVTY) last released its earnings results on Monday, November 4th. The company reported $1.28 earnings per share 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 for the quarter, compared to the consensus estimate of $679.66 million. During the same quarter last year, the business posted $1.18 earnings per share. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts predict that Revvity, Inc. will post 4.85 EPS for the current fiscal year.

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

Revvity Announces Dividend

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

Revvity Company 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.