Yousif Capital Management LLC Sells 459 Shares of Revvity, Inc. (NYSE:RVTY)

Yousif Capital Management LLC trimmed its holdings in shares of Revvity, Inc. (NYSE:RVTY) by 3.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,135 shares of the company’s stock after selling 459 shares during the quarter. Yousif Capital Management LLC’s holdings in Revvity were worth $1,466,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Gladius Capital Management LP bought a new stake in shares of Revvity during the 3rd quarter valued at $32,000. Continuum Advisory LLC grew its holdings in Revvity by 2,972.7% during the third quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock valued at $43,000 after purchasing an additional 327 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in Revvity by 55.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock worth $43,000 after buying an additional 138 shares in the last quarter. 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 worth $52,000 after buying an additional 399 shares during the period. Finally, Eastern Bank purchased a new position in shares of Revvity during the 3rd quarter valued at about $80,000. 86.65% of the stock is owned by hedge funds and other institutional investors.

Revvity Stock Performance

Shares of NYSE:RVTY opened at $111.34 on Thursday. The firm has a fifty day simple moving average of $117.38 and a two-hundred day simple moving average of $119.20. Revvity, Inc. has a 52 week low of $97.32 and a 52 week high of $129.50. The company has a quick ratio of 3.03, a current ratio of 3.60 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $13.55 billion, a P/E ratio of 50.38, a PEG ratio of 3.97 and a beta of 1.03.

Revvity (NYSE:RVTY) last released its quarterly 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 return on equity of 7.68% and a net margin of 9.81%. During the same period last year, the company earned $1.25 earnings per share. On average, analysts expect that Revvity, Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 18th will be issued a dividend of $0.07 per share. The ex-dividend date is Thursday, April 17th. This represents a $0.28 annualized dividend and a yield of 0.25%. Revvity’s payout ratio is presently 12.67%.

Revvity announced that its Board of Directors has initiated a share buyback plan on Monday, November 4th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase up to 6.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

RVTY has been the topic of a number of recent analyst reports. Leerink Partners raised their target price on shares of Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. KeyCorp raised their price objective on shares of Revvity from $132.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Robert W. Baird upped their target price on shares of Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Barclays increased their price target on Revvity from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, TD Cowen boosted their price objective on Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Revvity presently has an average rating of “Moderate Buy” and a consensus price target of $136.25.

Insider Buying and Selling

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

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.