Private Advisor Group LLC Grows Stake in Revvity, Inc. (NYSE:RVTY)

Private Advisor Group LLC grew its holdings in shares of Revvity, Inc. (NYSE:RVTY) by 13.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,056 shares of the company’s stock after buying an additional 616 shares during the period. Private Advisor Group LLC’s holdings in Revvity were worth $530,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RVTY. Rothschild Investment LLC bought a new position in Revvity in the second quarter worth about $25,000. Logan Capital Management Inc. purchased a new position in shares of Revvity in the 4th quarter valued at approximately $37,000. Family Firm Inc. bought a new stake in shares of Revvity during the second quarter valued at approximately $43,000. Parallel Advisors LLC purchased a new stake in Revvity in the fourth quarter worth $47,000. Finally, EntryPoint Capital LLC bought a new position in Revvity in the first quarter worth $48,000. Institutional investors own 86.65% of the company’s stock.

Revvity Price Performance

RVTY opened at $124.59 on Thursday. The company’s 50-day simple moving average is $118.46 and its two-hundred day simple moving average is $110.36. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.98 and a current ratio of 2.27. The stock has a market capitalization of $15.37 billion, a P/E ratio of 102.97, a P/E/G ratio of 2.87 and a beta of 1.05. Revvity, Inc. has a 52-week low of $79.50 and a 52-week high of $128.15.

Revvity (NYSE:RVTY) last issued its quarterly earnings data on Monday, July 29th. The company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10. Revvity had a net margin of 6.26% and a return on equity of 7.34%. The company had revenue of $691.70 million for the quarter, compared to the consensus estimate of $690.33 million. During the same quarter in the prior year, the firm earned $1.21 earnings per share. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, analysts predict that Revvity, Inc. will post 4.75 EPS for the current year.

Revvity Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 18th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.22%. The ex-dividend date of this dividend is Friday, October 18th. Revvity’s payout ratio is currently 23.14%.

Insider Activity at Revvity

In other Revvity news, insider Joel S. Goldberg sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $117.86, for a total value of $412,510.00. Following the transaction, the insider now directly owns 33,400 shares of the company’s stock, valued at $3,936,524. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

RVTY has been the topic of a number of research reports. Citigroup boosted their target price on shares of Revvity from $135.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Jefferies Financial Group upped their price objective on shares of Revvity from $115.00 to $125.00 and gave the stock a “hold” rating in a report on Monday, July 29th. TD Cowen lifted their target price on shares of Revvity from $130.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Leerink Partners began coverage on Revvity in a research note on Monday, July 8th. They issued an “outperform” rating and a $125.00 price target on the stock. Finally, Wells Fargo & Company initiated coverage on Revvity in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $130.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Revvity presently has a consensus rating of “Moderate Buy” and an average target price of $126.00.

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.