Revvity, Inc. (NYSE:RVTY) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. raised its stake in shares of Revvity, Inc. (NYSE:RVTY) by 4.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 59,860 shares of the company’s stock after acquiring an additional 2,582 shares during the period. Victory Capital Management Inc.’s holdings in Revvity were worth $7,647,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RVTY. Rothschild Investment LLC acquired a new position in Revvity during the second quarter worth about $25,000. EverSource Wealth Advisors LLC grew its position in shares of Revvity by 74.2% in the second quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company’s stock valued at $41,000 after purchasing an additional 167 shares during the last quarter. Fairfield Financial Advisors LTD purchased a new position in shares of Revvity during the 2nd quarter worth approximately $43,000. Family Firm Inc. purchased a new stake in Revvity in the 2nd quarter valued at approximately $43,000. Finally, EntryPoint Capital LLC acquired a new stake in Revvity during the 1st quarter valued at $48,000. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Tajinder S. Vohra sold 2,154 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total transaction of $262,206.42. Following the completion of the sale, the insider now owns 19,652 shares in the company, valued at $2,392,237.96. This trade represents a 9.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on RVTY shares. Barclays raised shares of Revvity from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $125.00 to $140.00 in a research report on Tuesday, October 15th. Leerink Partners lifted their price objective on Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Citigroup boosted their price target on Revvity from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Bank of America upped their target price on shares of Revvity from $118.00 to $127.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Finally, TD Cowen increased their price target on Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $132.07.

Revvity Stock Performance

Shares of NYSE RVTY opened at $111.11 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.97 and a current ratio of 3.56. The stock has a 50 day moving average price of $120.91 and a 200 day moving average price of $115.53. Revvity, Inc. has a 52 week low of $86.30 and a 52 week high of $129.50. The stock has a market capitalization of $13.52 billion, a PE ratio of 53.68, a price-to-earnings-growth ratio of 2.74 and a beta of 1.05.

Revvity (NYSE:RVTY) last released its quarterly earnings results on Monday, November 4th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.15. The business had revenue of $684.10 million for the quarter, compared to analyst estimates of $679.66 million. Revvity had a net margin of 9.34% and a return on equity of 7.42%. Revvity’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the firm earned $1.18 earnings per share. Analysts predict that Revvity, Inc. will post 4.85 earnings per share for the current fiscal year.

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

Revvity Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be issued a dividend of $0.07 per share. The ex-dividend date 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 presently 13.53%.

Revvity Company 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.