Cerity Partners LLC Buys 1,174 Shares of Revvity, Inc. (NYSE:RVTY)

Cerity Partners LLC raised its stake in shares of Revvity, Inc. (NYSE:RVTY) by 7.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 17,130 shares of the company’s stock after purchasing an additional 1,174 shares during the quarter. Cerity Partners LLC’s holdings in Revvity were worth $2,188,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in RVTY. Rothschild Investment LLC bought a new position in Revvity during the second quarter valued at about $25,000. Gladius Capital Management LP bought a new stake in shares of Revvity during the third quarter valued at approximately $32,000. EverSource Wealth Advisors LLC increased its position in shares of Revvity by 74.2% during 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. Avior Wealth Management LLC raised its stake in shares of Revvity by 7,980.0% in the third quarter. Avior Wealth Management LLC now owns 404 shares of the company’s stock valued at $52,000 after purchasing an additional 399 shares in the last quarter. Finally, Fairfield Financial Advisors LTD bought a new position in Revvity in the second quarter worth $43,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

Insider Buying and Selling at Revvity

In other Revvity news, insider Tajinder S. Vohra sold 2,154 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was 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 of the company’s stock, valued at approximately $2,392,237.96. The trade was a 9.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RVTY. Barclays lowered their price target on shares of Revvity from $140.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. TD Cowen increased 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. Robert W. Baird raised their price target on shares of Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Wells Fargo & Company initiated coverage on Revvity in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 price objective on the stock. Finally, Sanford C. Bernstein cut their target price on Revvity from $150.00 to $145.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.73.

Revvity Stock Performance

Revvity stock opened at $116.14 on Monday. The stock has a 50-day simple moving average of $119.71 and a 200 day simple moving average of $116.09. The stock has a market capitalization of $14.13 billion, a price-to-earnings ratio of 56.11, a P/E/G ratio of 3.57 and a beta of 1.05. The company has a quick ratio of 2.97, a current ratio of 3.56 and a debt-to-equity ratio of 0.40. Revvity, Inc. has a 12-month low of $87.58 and a 12-month high of $129.50.

Revvity (NYSE:RVTY) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, beating 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 firm had revenue of $684.10 million during the quarter, compared to analysts’ expectations of $679.66 million. During the same quarter last year, the company posted $1.18 EPS. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, research analysts anticipate that Revvity, Inc. will post 4.85 earnings per share for the current fiscal year.

Revvity declared that its Board of Directors has authorized a stock buyback plan on Monday, November 4th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Revvity Dividend Announcement

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

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.