M&T Bank Corp Decreases Position in Revvity, Inc. (NYSE:RVTY)

M&T Bank Corp decreased its position in shares of Revvity, Inc. (NYSE:RVTY) by 1.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,732 shares of the company’s stock after selling 110 shares during the quarter. M&T Bank Corp’s holdings in Revvity were worth $987,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in RVTY. Assenagon Asset Management S.A. lifted its position in Revvity by 3,171.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 87,180 shares of the company’s stock valued at $9,142,000 after acquiring an additional 84,515 shares in the last quarter. Bretton Capital Management LLC bought a new position in shares of Revvity during the third quarter valued at $1,405,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Revvity by 76.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,568 shares of the company’s stock valued at $3,205,000 after buying an additional 13,283 shares during the last quarter. Gateway Investment Advisers LLC boosted its position in shares of Revvity by 942.5% during the third quarter. Gateway Investment Advisers LLC now owns 38,081 shares of the company’s stock valued at $4,865,000 after buying an additional 34,428 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in Revvity by 12,674.8% in the 3rd quarter. International Assets Investment Management LLC now owns 13,669 shares of the company’s stock worth $1,746,000 after buying an additional 13,562 shares in the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on RVTY. Barclays lowered their target price on shares of Revvity from $140.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. TD Cowen raised their target price on shares of Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Wells Fargo & Company assumed coverage on shares of Revvity in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 target price for the company. Sanford C. Bernstein lowered their price target on Revvity from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Finally, Leerink Partners raised their price target on Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Revvity presently has a consensus rating of “Moderate Buy” and an average price target of $132.47.

Insider Transactions at Revvity

In other news, insider Tajinder S. Vohra sold 2,154 shares of Revvity stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.60% of the company’s stock.

Revvity Trading Down 0.1 %

Revvity stock opened at $115.94 on Monday. Revvity, Inc. has a 12-month low of $97.32 and a 12-month high of $129.50. The firm has a market capitalization of $14.11 billion, a price-to-earnings ratio of 56.01, a P/E/G ratio of 3.59 and a beta of 1.03. The firm has a 50 day moving average of $118.09 and a 200 day moving average of $116.39. The company has a current ratio of 3.56, a quick ratio of 2.97 and a debt-to-equity ratio of 0.40.

Revvity (NYSE:RVTY) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.15. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The firm had revenue of $684.10 million during the quarter, compared to analysts’ expectations of $679.66 million. During the same period in the prior year, the company posted $1.18 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, research analysts predict that Revvity, Inc. will post 4.85 earnings per share for the current year.

Revvity Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be given a $0.07 dividend. The ex-dividend date is Friday, January 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.24%. Revvity’s payout ratio is 13.53%.

Revvity announced that its Board of Directors has initiated a share repurchase plan on Monday, November 4th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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.