Blue Trust Inc. Lowers Position in Revvity, Inc. (NYSE:RVTY)

Blue Trust Inc. lessened its holdings in Revvity, Inc. (NYSE:RVTY) by 39.9% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 970 shares of the company’s stock after selling 645 shares during the period. Blue Trust Inc.’s holdings in Revvity were worth $108,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Gladius Capital Management LP purchased a new stake in Revvity during the third quarter valued at about $32,000. Continuum Advisory LLC raised its position 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 in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Revvity by 55.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock valued at $43,000 after purchasing an additional 138 shares in the last quarter. Avior Wealth Management LLC raised its position in Revvity by 7,980.0% during 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, Eastern Bank bought a new position in shares of Revvity during the third quarter valued at about $80,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Analyst Ratings Changes

RVTY has been the topic of a number of recent research reports. Barclays raised their price objective on Revvity from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. KeyCorp raised their target price on Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Raymond James reissued an “outperform” rating and issued a $145.00 target price (up from $140.00) on shares of Revvity in a research note on Monday, February 3rd. Sanford C. Bernstein cut Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 target price on the stock. in a research note on Friday, January 10th. Finally, Bank of America raised Revvity from a “neutral” rating to a “buy” rating and set a $138.00 target price on the stock in a research note on Friday, December 13th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Revvity currently has a consensus rating of “Moderate Buy” and a consensus target price of $136.25.

Insider Transactions at Revvity

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

Revvity Price Performance

RVTY stock opened at $113.72 on Friday. The firm has a 50 day moving average price of $116.76 and a 200-day moving average price of $118.63. Revvity, Inc. has a 52-week low of $97.32 and a 52-week high of $129.50. The firm has a market capitalization of $13.84 billion, a price-to-earnings ratio of 51.46, a PEG ratio of 3.82 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 announced its quarterly earnings data on Friday, January 31st. The company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates 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 last year, the company posted $1.25 earnings per share. Equities research analysts forecast that Revvity, Inc. will post 4.94 EPS for the current fiscal year.

Revvity Announces Dividend

The business 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 $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date of this dividend is Thursday, April 17th. Revvity’s dividend payout ratio (DPR) is presently 12.67%.

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

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.