RDA Financial Network Takes Position in Revvity, Inc. (NYSE:RVTY)

RDA Financial Network purchased a new stake in shares of Revvity, Inc. (NYSE:RVTY) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,066 shares of the company’s stock, valued at approximately $322,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Gulf International Bank UK Ltd grew its stake in shares of Revvity by 3.8% during the 1st quarter. Gulf International Bank UK Ltd now owns 10,795 shares of the company’s stock valued at $1,133,000 after acquiring an additional 400 shares during the period. Triangle Securities Wealth Management grew its stake in shares of Revvity by 20.6% during the 1st quarter. Triangle Securities Wealth Management now owns 2,874 shares of the company’s stock valued at $302,000 after acquiring an additional 490 shares during the period. Polianta Ltd bought a new position in shares of Revvity during the 1st quarter valued at approximately $1,218,000. Czech National Bank grew its stake in shares of Revvity by 0.5% during the 1st quarter. Czech National Bank now owns 21,713 shares of the company’s stock valued at $2,280,000 after acquiring an additional 99 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Revvity by 54.4% during the 1st quarter. GAMMA Investing LLC now owns 661 shares of the company’s stock valued at $69,000 after acquiring an additional 233 shares during the period. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Insider Buying and Selling

In other news, insider Joel S. Goldberg sold 4,000 shares of Revvity stock in a transaction on Friday, June 7th. The stock was sold at an average price of $110.46, for a total value of $441,840.00. Following the completion of the sale, the insider now owns 36,900 shares of the company’s stock, valued at $4,075,974. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on RVTY. Jefferies Financial Group began coverage on Revvity in a research note on Monday, June 3rd. They issued a “hold” rating and a $115.00 price target for the company. Robert W. Baird upped their price objective on Revvity from $126.00 to $127.00 and gave the stock an “outperform” rating in a report on Tuesday, April 30th. Finally, TD Cowen increased their target price on Revvity from $123.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Revvity presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.92.

Revvity Trading Down 0.3 %

NYSE:RVTY opened at $107.64 on Monday. The stock’s 50 day moving average price is $106.70 and its 200 day moving average price is $105.90. The company has a market capitalization of $13.28 billion, a PE ratio of 89.24, a P/E/G ratio of 2.80 and a beta of 1.08. The company has a quick ratio of 1.92, a current ratio of 2.23 and a debt-to-equity ratio of 0.40. Revvity, Inc. has a 52-week low of $79.50 and a 52-week high of $131.96.

Revvity (NYSE:RVTY) last posted its quarterly earnings results on Monday, April 29th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.94 by $0.04. The business had revenue of $649.90 million during the quarter, compared to analysts’ expectations of $646.83 million. Revvity had a return on equity of 7.37% and a net margin of 5.49%. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period last year, the firm earned $1.01 EPS. On average, research analysts anticipate that Revvity, Inc. will post 4.65 EPS for the current year.

Revvity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 19th will be issued a dividend of $0.07 per share. The ex-dividend date is Friday, July 19th. This represents a $0.28 annualized dividend and a yield of 0.26%. Revvity’s dividend payout ratio is presently 23.14%.

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.