Wealth Enhancement Advisory Services LLC Raises Holdings in Revvity, Inc. (NYSE:RVTY)

Wealth Enhancement Advisory Services LLC lifted its holdings in Revvity, Inc. (NYSE:RVTY) by 26.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,114 shares of the company’s stock after buying an additional 868 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Revvity were worth $526,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RVTY. Rothschild Investment LLC purchased a new stake in shares of Revvity during the 2nd quarter worth $25,000. EverSource Wealth Advisors LLC lifted its stake in shares of Revvity by 74.2% in the second quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company’s stock valued at $41,000 after purchasing an additional 167 shares during the period. Family Firm Inc. purchased a new stake in Revvity during the second quarter worth about $43,000. Fairfield Financial Advisors LTD purchased a new stake in Revvity during the second quarter worth about $43,000. Finally, EntryPoint Capital LLC acquired a new position in Revvity during the first quarter worth about $48,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

Revvity Price Performance

RVTY stock opened at $122.48 on Friday. The stock has a market capitalization of $15.11 billion, a price-to-earnings ratio of 59.17, a price-to-earnings-growth ratio of 3.44 and a beta of 1.05. The company has a quick ratio of 1.98, a current ratio of 3.56 and a debt-to-equity ratio of 0.40. Revvity, Inc. has a 52-week low of $82.17 and a 52-week high of $129.50. The stock’s fifty day simple moving average is $121.64 and its 200-day simple moving average is $114.76.

Revvity (NYSE:RVTY) last issued its quarterly earnings results 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. The firm had revenue of $684.10 million for the quarter, compared to analyst estimates of $679.66 million. Revvity had a return on equity of 7.42% and a net margin of 9.34%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the company earned $1.18 EPS. Equities research analysts expect that Revvity, Inc. will post 4.75 EPS for the current year.

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

Revvity Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be issued a $0.07 dividend. The ex-dividend date is Friday, January 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.23%. Revvity’s dividend payout ratio (DPR) is presently 13.53%.

Insider Activity

In related news, insider Tajinder S. Vohra sold 2,153 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $122.09, for a total value of $262,859.77. Following the transaction, the insider now directly owns 23,960 shares of the company’s stock, valued at approximately $2,925,276.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Revvity news, insider Tajinder S. Vohra sold 2,154 shares of the business’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 transaction of $262,206.42. Following the completion of the sale, the insider now directly owns 19,652 shares in the company, valued at $2,392,237.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tajinder S. Vohra sold 2,153 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $122.09, for a total transaction of $262,859.77. Following the completion of the transaction, the insider now directly owns 23,960 shares in the company, valued at approximately $2,925,276.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on RVTY shares. Bank of America lifted their price target on shares of Revvity from $118.00 to $127.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Leerink Partners boosted their price objective on shares of Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. TD Cowen raised their target price on shares of Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a report on Tuesday. Jefferies Financial Group upped their price target on shares of Revvity from $115.00 to $125.00 and gave the company a “hold” rating in a report on Monday, July 29th. Finally, Robert W. Baird raised their price objective on shares of Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a research note on Tuesday. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Revvity has a consensus rating of “Moderate Buy” and an average target price of $132.07.

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.