Korea Investment CORP Purchases 27,200 Shares of Revvity Inc. $RVTY

Korea Investment CORP increased its position in Revvity Inc. (NYSE:RVTY) by 61.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,265 shares of the company’s stock after purchasing an additional 27,200 shares during the period. Korea Investment CORP’s holdings in Revvity were worth $6,893,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of RVTY. Cetera Investment Advisers raised its holdings in Revvity by 34.4% during the first quarter. Cetera Investment Advisers now owns 7,774 shares of the company’s stock worth $823,000 after buying an additional 1,988 shares during the last quarter. LPL Financial LLC grew its holdings in shares of Revvity by 9.9% during the first quarter. LPL Financial LLC now owns 29,982 shares of the company’s stock valued at $3,172,000 after buying an additional 2,702 shares during the last quarter. Mackenzie Financial Corp increased its position in shares of Revvity by 16.6% during the first quarter. Mackenzie Financial Corp now owns 16,773 shares of the company’s stock worth $1,775,000 after acquiring an additional 2,392 shares in the last quarter. Natixis Advisors LLC raised its holdings in shares of Revvity by 3.1% in the 1st quarter. Natixis Advisors LLC now owns 14,782 shares of the company’s stock worth $1,564,000 after acquiring an additional 443 shares during the last quarter. Finally, Jefferies Financial Group Inc. bought a new position in Revvity in the 1st quarter valued at about $1,133,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

Revvity Price Performance

Shares of NYSE:RVTY opened at $102.59 on Tuesday. The company’s 50-day moving average is $93.57 and its 200 day moving average is $92.72. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.75 and a current ratio of 1.75. The company has a market capitalization of $11.63 billion, a P/E ratio of 51.55, a price-to-earnings-growth ratio of 3.15 and a beta of 1.01. Revvity Inc. has a fifty-two week low of $81.36 and a fifty-two week high of $128.29.

Revvity (NYSE:RVTY) last posted its quarterly earnings data on Monday, October 27th. The company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. The business had revenue of $698.95 million during the quarter, compared to the consensus estimate of $699.75 million. Revvity had a net margin of 8.44% and a return on equity of 7.52%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.28 earnings per share. Revvity has set its FY 2025 guidance at 4.900-5.000 EPS. On average, equities research analysts forecast that Revvity Inc. will post 4.94 earnings per share for the current year.

Revvity declared that its Board of Directors has authorized a stock repurchase plan on Monday, October 27th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to purchase up to 8.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Revvity Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 6th. Investors of record on Friday, January 16th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, January 16th. Revvity’s payout ratio is 14.07%.

Wall Street Analyst Weigh In

RVTY has been the subject of a number of recent research reports. Bank of America decreased their price objective on Revvity from $110.00 to $99.00 and set a “buy” rating for the company in a report on Monday, September 22nd. Evercore ISI reissued an “outperform” rating and issued a $108.00 price target on shares of Revvity in a research report on Monday, October 27th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Revvity in a report on Tuesday, November 25th. Barclays increased their target price on shares of Revvity from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Finally, Robert W. Baird upped their price objective on shares of Revvity from $122.00 to $123.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 28th. Eight analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Revvity has a consensus rating of “Moderate Buy” and a consensus target price of $114.75.

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.