Mackenzie Financial Corp Purchases New Position in Revvity, Inc. (NYSE:RVTY)

Mackenzie Financial Corp purchased a new stake in Revvity, Inc. (NYSE:RVTY) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 13,887 shares of the company’s stock, valued at approximately $1,518,000.

Other large investors have also recently modified their holdings of the company. Gladius Capital Management LP lifted its holdings in Revvity by 84.1% during the third quarter. Gladius Capital Management LP now owns 232 shares of the company’s stock worth $26,000 after buying an additional 106 shares during the period. CENTRAL TRUST Co acquired a new stake in Revvity during the 4th quarter worth about $27,000. ORG Partners LLC acquired a new stake in Revvity during the 4th quarter worth about $32,000. JTC Employer Solutions Trustee Ltd acquired a new stake in Revvity during the 4th quarter worth about $33,000. Finally, Headinvest LLC acquired a new stake in Revvity during the 3rd quarter worth about $57,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Insider Transactions at Revvity

In other news, insider Prahlad R. Singh sold 21,217 shares of Revvity stock in a transaction on Monday, February 5th. The shares were sold at an average price of $104.28, for a total transaction of $2,212,508.76. Following the completion of the sale, the insider now directly owns 92,801 shares of the company’s stock, valued at approximately $9,677,288.28. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RVTY. UBS Group downgraded Revvity from a “buy” rating to a “neutral” rating and increased their price target for the stock from $105.00 to $125.00 in a research report on Tuesday, January 16th. Evercore ISI raised shares of Revvity from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $88.00 to $125.00 in a research note on Thursday, January 4th. KeyCorp raised their price target on shares of Revvity from $110.00 to $126.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Raymond James raised their price target on shares of Revvity from $106.00 to $127.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Finally, Barclays raised their target price on shares of Revvity from $92.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 25th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.91.

Revvity Stock Up 2.7 %

Revvity stock opened at $103.49 on Wednesday. Revvity, Inc. has a fifty-two week low of $79.50 and a fifty-two week high of $135.67. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.77 and a current ratio of 2.07. The firm has a 50 day moving average price of $104.74 and a 200 day moving average price of $101.49. The company has a market capitalization of $12.78 billion, a PE ratio of 18.82, a price-to-earnings-growth ratio of 2.63 and a beta of 1.09.

Revvity (NYSE:RVTY) last posted its earnings results on Thursday, February 1st. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.10. Revvity had a net margin of 25.20% and a return on equity of 7.41%. The firm had revenue of $695.90 million during the quarter. Research analysts expect that Revvity, Inc. will post 4.65 earnings per share for the current year.

Revvity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 19th will be given a $0.07 dividend. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.28 annualized dividend and a yield of 0.27%. Revvity’s dividend payout ratio is presently 5.09%.

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.