Holocene Advisors LP Has $92.74 Million Stake in Revvity, Inc. (NYSE:RVTY)

Holocene Advisors LP increased its position in Revvity, Inc. (NYSE:RVTY) by 14.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 725,917 shares of the company’s stock after buying an additional 92,240 shares during the period. Holocene Advisors LP owned 0.60% of Revvity worth $92,736,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Rothschild Investment LLC acquired a new position in shares of Revvity during the 2nd quarter valued at about $25,000. Gladius Capital Management LP acquired a new position in shares of Revvity during the 3rd quarter worth about $32,000. EverSource Wealth Advisors LLC lifted its position in shares of Revvity by 74.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company’s stock worth $41,000 after purchasing an additional 167 shares during the last quarter. Family Firm Inc. bought a new stake in Revvity during the 2nd quarter valued at approximately $43,000. Finally, Fairfield Financial Advisors LTD acquired a new stake in shares of Revvity in the second quarter worth $43,000. Institutional investors own 86.65% of the company’s stock.

Insider Activity at Revvity

In other Revvity news, insider Tajinder S. Vohra sold 2,154 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total value of $262,206.42. Following the sale, the insider now owns 19,652 shares in the company, valued at $2,392,237.96. This trade represents a 9.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

RVTY has been the topic of several recent research reports. Leerink Partners lifted their target price on shares of Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Wells Fargo & Company initiated coverage on Revvity in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 target price for the company. TD Cowen upped their price target on shares of Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Raymond James raised their price objective on shares of Revvity from $144.00 to $146.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Finally, Sanford C. Bernstein dropped their target price 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. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $131.73.

Revvity Price Performance

NYSE:RVTY opened at $116.14 on Monday. The stock’s 50-day simple moving average is $119.71 and its 200 day simple moving average is $116.09. Revvity, Inc. has a 52-week low of $87.58 and a 52-week high of $129.50. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.97 and a current ratio of 3.56. The company has a market cap of $14.13 billion, a P/E ratio of 56.11, a P/E/G ratio of 3.57 and a beta of 1.05.

Revvity (NYSE:RVTY) last released its quarterly earnings data on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.15. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The company had revenue of $684.10 million for the quarter, compared to analyst estimates of $679.66 million. During the same period in the previous year, the business earned $1.18 EPS. Revvity’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Revvity, Inc. will post 4.85 EPS for the current fiscal year.

Revvity declared that its board has approved a stock repurchase plan on Monday, November 4th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to repurchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Revvity Announces Dividend

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

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.