Janney Montgomery Scott LLC Increases Stock Position in Revvity, Inc. (NYSE:RVTY)

Janney Montgomery Scott LLC grew its holdings in Revvity, Inc. (NYSE:RVTY) by 87.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,891 shares of the company’s stock after purchasing an additional 3,672 shares during the period. Janney Montgomery Scott LLC’s holdings in Revvity were worth $881,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Westside Investment Management Inc. boosted its position in shares of Revvity by 0.8% during the fourth quarter. Westside Investment Management Inc. now owns 14,363 shares of the company’s stock valued at $1,603,000 after buying an additional 108 shares during the last quarter. Atomi Financial Group Inc. lifted its stake in Revvity by 8.8% during the 4th quarter. Atomi Financial Group Inc. now owns 1,861 shares of the company’s stock valued at $208,000 after acquiring an additional 151 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Revvity by 55.9% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock valued at $43,000 after acquiring an additional 138 shares during the last quarter. Guinness Asset Management LTD boosted its holdings in shares of Revvity by 18.1% during the 4th quarter. Guinness Asset Management LTD now owns 4,564 shares of the company’s stock valued at $509,000 after acquiring an additional 701 shares during the last quarter. Finally, HB Wealth Management LLC raised its holdings in shares of Revvity by 4.6% during the fourth quarter. HB Wealth Management LLC now owns 2,380 shares of the company’s stock valued at $266,000 after purchasing an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Wall Street Analysts Forecast Growth

RVTY has been the topic of several research reports. TD Cowen raised their target price on shares of Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Bank of America upgraded Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price target on the stock in a research note on Friday, December 13th. Barclays upped their price objective on Revvity from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday. Leerink Partners raised their target price on Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, Robert W. Baird upped their price target on shares of Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Revvity has a consensus rating of “Moderate Buy” and an average target price of $136.25.

Revvity Price Performance

NYSE RVTY opened at $119.17 on Friday. The company has a current ratio of 3.60, a quick ratio of 3.03 and a debt-to-equity ratio of 0.41. Revvity, Inc. has a 12 month low of $97.32 and a 12 month high of $129.50. The stock has a market cap of $14.50 billion, a price-to-earnings ratio of 53.92, a PEG ratio of 4.17 and a beta of 1.03. The company’s 50 day moving average is $117.35 and its two-hundred day moving average is $119.03.

Revvity (NYSE:RVTY) last announced its quarterly earnings data on Friday, January 31st. The company reported $1.42 EPS for the quarter, beating the consensus estimate 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 quarter in the prior year, the business posted $1.25 EPS. As a group, research analysts anticipate that Revvity, Inc. will post 4.97 earnings per share for the current year.

Revvity Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 18th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date of this dividend is Thursday, April 17th. Revvity’s dividend payout ratio (DPR) is 12.67%.

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

Insider Buying and Selling

In related news, insider Joel S. Goldberg sold 15,170 shares of the firm’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $126.73, for a total transaction of $1,922,494.10. Following the completion of the transaction, the insider now directly 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 legal filing with the SEC, which is accessible through this link. Also, insider Tajinder S. Vohra sold 5,492 shares of Revvity stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total transaction of $641,520.52. Following the completion of the sale, the insider now 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 disclosure for this sale can be found here. 0.60% of the stock is currently owned by company insiders.

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.