Revvity, Inc. (NYSE:RVTY) Position Increased by RDA Financial Network

RDA Financial Network boosted its stake in shares of Revvity, Inc. (NYSE:RVTY) by 5.1% in the fourth quarter, HoldingsChannel reports. The firm owned 3,216 shares of the company’s stock after purchasing an additional 157 shares during the quarter. RDA Financial Network’s holdings in Revvity were worth $359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Empirical Finance LLC increased its stake in shares of Revvity by 2.0% in the third quarter. Empirical Finance LLC now owns 4,237 shares of the company’s stock valued at $541,000 after purchasing an additional 85 shares during the period. CX Institutional grew its holdings in Revvity by 1.1% in the 3rd quarter. CX Institutional now owns 7,984 shares of the company’s stock worth $1,020,000 after buying an additional 86 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Revvity by 2.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,214 shares of the company’s stock valued at $470,000 after acquiring an additional 100 shares during the period. Coldstream Capital Management Inc. raised its stake in Revvity by 5.1% during the 3rd quarter. Coldstream Capital Management Inc. now owns 2,247 shares of the company’s stock valued at $286,000 after acquiring an additional 110 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC boosted its position in Revvity by 2.1% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 7,398 shares of the company’s stock worth $945,000 after acquiring an additional 154 shares during the period. 86.65% of the stock is currently owned by institutional investors.

Revvity Price Performance

Shares of NYSE:RVTY opened at $118.29 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 company has a market capitalization of $14.40 billion, a PE ratio of 57.15, a price-to-earnings-growth ratio of 3.37 and a beta of 1.03. The stock has a fifty day moving average of $114.94 and a 200-day moving average of $117.45. Revvity, Inc. has a one year low of $97.32 and a one year high of $129.50.

Revvity (NYSE:RVTY) last announced its earnings results on Monday, November 4th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.13 by $0.15. The business had revenue of $684.10 million during the quarter, compared to the consensus estimate of $679.66 million. Revvity had a return on equity of 7.42% and a net margin of 9.34%. Revvity’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.18 earnings per share. As a group, equities analysts anticipate that Revvity, Inc. will post 4.84 EPS for the current fiscal year.

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

Revvity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.24%. The ex-dividend date is Friday, January 17th. Revvity’s dividend payout ratio (DPR) is currently 13.53%.

Insider Activity

In other news, insider Tajinder S. Vohra sold 5,492 shares of Revvity stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $116.81, for a total transaction of $641,520.52. Following the transaction, the insider now owns 19,652 shares in the company, valued at approximately $2,295,550.12. The trade was a 21.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on RVTY shares. Robert W. Baird raised their price target on Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Leerink Partners raised their target price on shares of Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Raymond James upped their price target on shares of Revvity from $144.00 to $146.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Barclays lowered their price objective on shares of Revvity from $140.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Finally, Sanford C. Bernstein downgraded Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 target price for the company. in a research report on Friday, January 10th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $132.46.

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.