Caprock Group LLC Invests $229,000 in Revvity, Inc. (NYSE:RVTY)

Caprock Group LLC bought a new stake in shares of Revvity, Inc. (NYSE:RVTY) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,050 shares of the company’s stock, valued at approximately $229,000.

A number of other hedge funds have also recently bought and sold shares of RVTY. Empirical Finance LLC lifted its position in shares of Revvity by 2.0% during the 3rd quarter. Empirical Finance LLC now owns 4,237 shares of the company’s stock valued at $541,000 after acquiring an additional 85 shares during the last quarter. CX Institutional lifted its holdings in shares of Revvity by 1.1% during the third quarter. CX Institutional now owns 7,984 shares of the company’s stock valued at $1,020,000 after purchasing an additional 86 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Revvity by 2.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,214 shares of the company’s stock valued at $470,000 after purchasing an additional 100 shares during the period. HB Wealth Management LLC increased its stake in Revvity by 4.6% in the 4th quarter. HB Wealth Management LLC now owns 2,380 shares of the company’s stock worth $266,000 after purchasing an additional 104 shares in the last quarter. Finally, Westside Investment Management Inc. raised its holdings in Revvity by 0.8% during the 4th quarter. Westside Investment Management Inc. now owns 14,363 shares of the company’s stock worth $1,603,000 after buying an additional 108 shares during the period. 86.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Raymond James reissued an “outperform” rating and issued a $145.00 target price (up from $140.00) on shares of Revvity in a research report on Monday. KeyCorp boosted their target price on shares of Revvity from $132.00 to $145.00 and gave the company an “overweight” rating in a research note on Monday. Leerink Partners raised their target price on Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Barclays upped their price target on Revvity from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday. Finally, Robert W. Baird raised their price objective on Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Revvity presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.25.

Revvity Trading Down 2.6 %

Shares of NYSE RVTY opened at $119.17 on Friday. The business has a 50 day simple moving average of $117.35 and a 200 day simple moving average of $119.03. Revvity, Inc. has a 52 week low of $97.32 and a 52 week high of $129.50. The stock has a market cap of $14.50 billion, a price-to-earnings ratio of 53.92, a PEG ratio of 4.17 and a beta of 1.03. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.03 and a current ratio of 3.60.

Revvity (NYSE:RVTY) last posted its earnings results on Friday, January 31st. The company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.37 by $0.05. Revvity had a net margin of 9.81% and a return on equity of 7.68%. During the same period in the prior year, the business earned $1.25 earnings per share. On average, research analysts predict that Revvity, Inc. will post 4.97 earnings per share for the current fiscal year.

Revvity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 18th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.23%. The ex-dividend date is Thursday, April 17th. Revvity’s payout ratio is 12.67%.

Revvity declared that its Board of Directors has approved a share repurchase program on Monday, November 4th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to repurchase up to 6.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Revvity

In related news, insider Tajinder S. Vohra sold 5,492 shares of the firm’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total value of $641,520.52. Following the transaction, the insider now directly owns 19,652 shares in the company, valued at approximately $2,295,550.12. This trade represents a 21.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Joel S. Goldberg sold 15,170 shares of the business’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $126.73, for a total transaction of $1,922,494.10. Following the transaction, the insider now directly owns 33,400 shares of the company’s stock, valued at approximately $4,232,782. This represents a 31.23 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

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.