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

Private Advisor Group LLC lifted its stake in Revvity, Inc. (NYSE:RVTY) by 5.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,254 shares of the company’s stock after buying an additional 213 shares during the period. Private Advisor Group LLC’s holdings in Revvity were worth $475,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Empirical Finance LLC increased its holdings in shares of Revvity by 2.0% in the third quarter. Empirical Finance LLC now owns 4,237 shares of the company’s stock worth $541,000 after buying an additional 85 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Revvity by 2.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,214 shares of the company’s stock worth $470,000 after buying an additional 100 shares during the period. HB Wealth Management LLC increased its holdings in shares of Revvity by 4.6% in the fourth quarter. HB Wealth Management LLC now owns 2,380 shares of the company’s stock worth $266,000 after buying an additional 104 shares during the period. Westside Investment Management Inc. increased its holdings in shares of Revvity by 0.8% in the fourth quarter. Westside Investment Management Inc. now owns 14,363 shares of the company’s stock worth $1,603,000 after buying an additional 108 shares during the period. Finally, Coldstream Capital Management Inc. increased its holdings in shares of Revvity by 5.1% in the third quarter. Coldstream Capital Management Inc. now owns 2,247 shares of the company’s stock worth $286,000 after buying an additional 110 shares during the period. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Revvity Stock Performance

Revvity stock opened at $110.32 on Tuesday. The stock’s 50 day simple moving average is $116.85 and its two-hundred day simple moving average is $118.41. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.03 and a current ratio of 3.60. The stock has a market cap of $13.25 billion, a price-to-earnings ratio of 49.92, a PEG ratio of 3.82 and a beta of 1.03. Revvity, Inc. has a fifty-two week low of $97.32 and a fifty-two week high of $129.50.

Revvity (NYSE:RVTY) last released its earnings results on Friday, January 31st. The company reported $1.42 earnings per share (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 last year, the business earned $1.25 earnings per share. As a group, analysts expect that Revvity, Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors 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 yield of 0.25%. Revvity’s payout ratio is currently 12.67%.

Revvity announced that its Board of Directors has initiated a stock repurchase plan on Monday, November 4th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 6.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Bank of America upgraded Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price objective on the stock in a report on Friday, December 13th. Robert W. Baird raised their target price on Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. TD Cowen raised their target price on Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Barclays raised their target price on Revvity from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Raymond James reissued an “outperform” rating and issued a $145.00 target price (up from $140.00) on shares of Revvity in a research note on Monday, February 3rd. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $136.25.

Insider Buying and Selling

In other news, insider Tajinder S. Vohra sold 5,492 shares of the business’s 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 of the company’s stock, valued at $2,295,550.12. The trade was a 21.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joel S. Goldberg sold 15,170 shares of the business’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 sale, the insider now directly owns 33,400 shares of the company’s stock, valued at approximately $4,232,782. The trade was a 31.23 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is 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.