Desjardins Global Asset Management Inc. Invests $37,000 in Revvity, Inc. (NYSE:RVTY)

Desjardins Global Asset Management Inc. purchased a new position in shares of Revvity, Inc. (NYSE:RVTY) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 343 shares of the company’s stock, valued at approximately $37,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RVTY. KBC Group NV acquired a new stake in shares of Revvity during the 3rd quarter worth about $25,301,000. Public Sector Pension Investment Board acquired a new stake in shares of Revvity during the 3rd quarter worth about $1,472,000. 2Xideas AG acquired a new stake in shares of Revvity during the 3rd quarter worth about $20,968,000. Citigroup Inc. acquired a new stake in shares of Revvity during the 3rd quarter worth about $5,548,000. Finally, Wesbanco Bank Inc. acquired a new position in Revvity in the 3rd quarter valued at about $522,000. 86.65% of the stock is owned by institutional investors and hedge funds.

Revvity Stock Performance

Shares of Revvity stock opened at $100.86 on Friday. The business has a 50-day simple moving average of $104.78 and a 200-day simple moving average of $101.64. The company has a market cap of $12.46 billion, a PE ratio of 18.34, a P/E/G ratio of 2.62 and a beta of 1.09. Revvity, Inc. has a one year low of $79.50 and a one year 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.

Revvity (NYSE:RVTY) last posted its earnings results on Thursday, February 1st. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate 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%. On average, equities research analysts forecast that Revvity, Inc. will post 4.65 EPS for the current fiscal year.

Revvity Dividend Announcement

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

Insider Buying and Selling

In related news, insider Prahlad R. Singh sold 21,217 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was 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 owns 92,801 shares in the company, valued at $9,677,288.28. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. KeyCorp lifted their target price on Revvity from $110.00 to $126.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Barclays lifted their target price on Revvity from $92.00 to $105.00 and gave the company an “equal weight” rating in a research report on Thursday, January 25th. Stifel Nicolaus lifted their target price on Revvity from $95.00 to $110.00 and gave the company a “hold” rating in a research report on Friday, February 2nd. Evercore ISI raised Revvity from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $88.00 to $125.00 in a research report on Thursday, January 4th. Finally, Raymond James lifted their target price on Revvity from $106.00 to $127.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Revvity currently has a consensus rating of “Moderate Buy” and an average target price of $118.91.

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.