Everence Capital Management Inc. Sells 5,620 Shares of Revvity, Inc. (NYSE:RVTY)

Everence Capital Management Inc. lessened its stake in shares of Revvity, Inc. (NYSE:RVTY) by 61.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,550 shares of the company’s stock after selling 5,620 shares during the quarter. Everence Capital Management Inc.’s holdings in Revvity were worth $396,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Natixis Advisors LLC bought a new stake in Revvity during the second quarter valued at about $1,111,000. Rhumbline Advisers grew its position in shares of Revvity by 0.4% in the 2nd quarter. Rhumbline Advisers now owns 211,814 shares of the company’s stock worth $22,211,000 after buying an additional 754 shares during the last quarter. TD Asset Management Inc raised its stake in shares of Revvity by 139.1% during the 2nd quarter. TD Asset Management Inc now owns 100,927 shares of the company’s stock worth $10,583,000 after acquiring an additional 58,719 shares in the last quarter. Private Advisor Group LLC lifted its position in Revvity by 13.9% during the second quarter. Private Advisor Group LLC now owns 5,056 shares of the company’s stock valued at $530,000 after acquiring an additional 616 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in Revvity in the second quarter valued at approximately $133,000. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Revvity

In other news, insider Tajinder S. Vohra sold 2,154 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 19,652 shares of the company’s stock, valued at $2,392,237.96. This represents a 9.88 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Raymond James increased their price objective on Revvity from $144.00 to $146.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. TD Cowen raised their price target on Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Barclays dropped their price target on Revvity from $140.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Leerink Partners increased their price objective on shares of Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Bank of America upgraded shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price target on the stock in a research note on Friday, December 13th. Five 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. Based on data from MarketBeat.com, Revvity presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.00.

Revvity Stock Up 1.4 %

Shares of RVTY opened at $113.60 on Monday. The company has a market capitalization of $13.83 billion, a price-to-earnings ratio of 54.88, a PEG ratio of 3.59 and a beta of 1.03. Revvity, Inc. has a 52 week low of $97.32 and a 52 week high of $129.50. The stock’s 50-day moving average price is $115.71 and its 200-day moving average price is $116.68. 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 (NYSE:RVTY) last released its quarterly earnings data on Monday, November 4th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.13 by $0.15. Revvity had a return on equity of 7.42% and a net margin of 9.34%. The business had revenue of $684.10 million for the quarter, compared to analyst estimates of $679.66 million. During the same quarter in the prior year, the firm posted $1.18 EPS. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts predict that Revvity, Inc. will post 4.85 EPS for the current year.

Revvity declared that its board has initiated a stock buyback plan on Monday, November 4th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 6.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership 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 given a $0.07 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.25%. Revvity’s dividend payout ratio (DPR) is currently 13.53%.

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.