Mutual of America Capital Management LLC Decreases Stock Holdings in Revvity, Inc. (NYSE:RVTY)

Mutual of America Capital Management LLC lowered its position in Revvity, Inc. (NYSE:RVTY) by 2.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,169 shares of the company’s stock after selling 375 shares during the period. Mutual of America Capital Management LLC’s holdings in Revvity were worth $1,938,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of RVTY. Rothschild Investment LLC acquired a new stake in Revvity in the second quarter worth about $25,000. EverSource Wealth Advisors LLC grew its position in Revvity by 74.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company’s stock worth $41,000 after purchasing an additional 167 shares during the last quarter. Fairfield Financial Advisors LTD acquired a new position in Revvity during the 2nd quarter valued at approximately $43,000. Family Firm Inc. purchased a new position in shares of Revvity in the second quarter worth $43,000. Finally, EntryPoint Capital LLC acquired a new stake in shares of Revvity during the first quarter worth $48,000. Institutional investors own 86.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Barclays raised shares of Revvity from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $125.00 to $140.00 in a research report on Tuesday, October 15th. Raymond James boosted their target price on shares of Revvity from $144.00 to $146.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. TD Cowen boosted their price objective on Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Robert W. Baird lifted their price target on Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company assumed coverage on Revvity in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 price objective on the stock. Seven 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. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.07.

Revvity Stock Performance

Shares of RVTY opened at $112.03 on Monday. The firm has a market cap of $13.63 billion, a PE ratio of 54.12, a price-to-earnings-growth ratio of 2.77 and a beta of 1.05. Revvity, Inc. has a 12-month low of $86.30 and a 12-month high of $129.50. The company’s 50 day simple moving average is $120.53 and its 200-day simple moving average is $115.65. The company has a current ratio of 3.56, a quick ratio of 2.97 and a debt-to-equity ratio of 0.40.

Revvity (NYSE:RVTY) last released its earnings results on Monday, November 4th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.13 by $0.15. The company had revenue of $684.10 million during the quarter, compared to analysts’ expectations of $679.66 million. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The business’s revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the business earned $1.18 EPS. As a group, equities analysts predict that Revvity, Inc. will post 4.85 EPS for the current year.

Revvity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date is Friday, January 17th. Revvity’s dividend payout ratio is currently 13.53%.

Revvity declared that its Board of Directors has authorized a stock repurchase plan on Monday, November 4th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to buy up to 6.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In related news, insider Tajinder S. Vohra sold 2,154 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total value of $262,206.42. Following the sale, the insider now directly owns 19,652 shares in the company, valued at $2,392,237.96. The trade was a 9.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.60% of the stock is currently owned by company insiders.

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.