Revvity, Inc. (NYSE:RVTY) Shares Sold by Rhumbline Advisers

Rhumbline Advisers decreased its position in shares of Revvity, Inc. (NYSE:RVTY) by 1.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 203,524 shares of the company’s stock after selling 2,549 shares during the period. Rhumbline Advisers owned about 0.17% of Revvity worth $22,715,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in Revvity by 13.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 344,115 shares of the company’s stock worth $43,961,000 after acquiring an additional 41,497 shares in the last quarter. Contravisory Investment Management Inc. lifted its stake in Revvity by 1,715.9% during the 4th quarter. Contravisory Investment Management Inc. now owns 69,186 shares of the company’s stock worth $7,722,000 after acquiring an additional 65,376 shares in the last quarter. Bretton Capital Management LLC acquired a new position in Revvity during the 3rd quarter worth about $1,405,000. FMR LLC lifted its stake in Revvity by 40.8% during the 3rd quarter. FMR LLC now owns 155,556 shares of the company’s stock worth $19,872,000 after acquiring an additional 45,040 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its stake in Revvity by 12,674.8% during the 3rd quarter. International Assets Investment Management LLC now owns 13,669 shares of the company’s stock worth $1,746,000 after acquiring an additional 13,562 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on RVTY. Sanford C. Bernstein lowered Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price target on the stock. in a research report on Friday, January 10th. KeyCorp increased their price objective on Revvity from $132.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. TD Cowen increased 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. Raymond James restated an “outperform” rating and set a $145.00 price target (up previously from $140.00) on shares of Revvity in a research note on Monday, February 3rd. Finally, Bank of America upgraded 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 investment 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’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $136.25.

Insider Transactions at Revvity

In other Revvity news, insider Tajinder S. Vohra sold 5,492 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 19,652 shares of the company’s stock, valued at approximately $2,295,550.12. The trade was a 21.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joel S. Goldberg sold 15,170 shares of the business’s stock in a transaction dated Thursday, January 30th. The stock was 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 in the company, valued at approximately $4,232,782. This represents a 31.23 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Revvity Stock Performance

Shares of RVTY stock opened at $114.55 on Friday. The stock has a fifty day moving average price of $116.83 and a 200 day moving average price of $118.70. The stock has a market cap of $13.94 billion, a PE ratio of 51.83, a P/E/G ratio of 3.72 and a beta of 1.03. Revvity, Inc. has a 1 year low of $97.32 and a 1 year high of $129.50. 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 issued its quarterly earnings data on Friday, January 31st. The company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.05. Revvity had a return on equity of 7.68% and a net margin of 9.81%. During the same quarter in the previous year, the firm earned $1.25 earnings per share. Sell-side analysts forecast that Revvity, Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 18th will be issued a $0.07 dividend. The ex-dividend date is Thursday, April 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.24%. Revvity’s dividend payout ratio (DPR) is 12.67%.

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

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.