Zurcher Kantonalbank Zurich Cantonalbank Invests $2.20 Million in Revvity, Inc. (NYSE:RVTY)

Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in Revvity, Inc. (NYSE:RVTY) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 20,130 shares of the company’s stock, valued at approximately $2,200,000.

Several other hedge funds have also recently modified their holdings of RVTY. KBC Group NV purchased a new position in shares of Revvity in the third quarter worth $25,301,000. 2Xideas AG purchased a new stake in Revvity during the third quarter valued at $20,968,000. Citigroup Inc. purchased a new stake in Revvity during the third quarter valued at $5,548,000. Wesbanco Bank Inc. purchased a new stake in Revvity during the third quarter valued at $522,000. Finally, Headinvest LLC purchased a new stake in Revvity during the third quarter valued at $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 the company’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $104.28, for a total value of $2,212,508.76. Following the completion of the transaction, the insider now owns 92,801 shares of the company’s stock, valued at $9,677,288.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

RVTY has been the subject of a number of research reports. KeyCorp upped their price objective on Revvity from $110.00 to $126.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Stifel Nicolaus upped their price objective on Revvity from $95.00 to $110.00 and gave the company a “hold” rating in a research report on Friday, February 2nd. Barclays upped their price objective on Revvity from $92.00 to $105.00 and gave the company an “equal weight” rating in a research report on Thursday, January 25th. Raymond James boosted their price target on Revvity from $106.00 to $127.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Finally, UBS Group lowered Revvity from a “buy” rating to a “neutral” rating and boosted their price target for the company from $105.00 to $125.00 in a report on Tuesday, January 16th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $118.91.

Revvity Stock Performance

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

Revvity (NYSE:RVTY) last released its quarterly earnings data on Thursday, February 1st. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.10. The firm had revenue of $695.90 million during the quarter. Revvity had a return on equity of 7.41% and a net margin of 25.20%. As a group, equities research analysts predict that Revvity, Inc. will post 4.65 EPS for the current fiscal year.

Revvity Announces Dividend

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

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.