Revvity, Inc. (NYSE:RVTY) Shares Sold by Simon Quick Advisors LLC

Simon Quick Advisors LLC cut its holdings in shares of Revvity, Inc. (NYSE:RVTY) by 24.5% in the fourth quarter, HoldingsChannel reports. The firm owned 2,829 shares of the company’s stock after selling 919 shares during the period. Simon Quick Advisors LLC’s holdings in Revvity were worth $316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the stock. Gladius Capital Management LP purchased a new position in Revvity in the third quarter valued at $32,000. EverSource Wealth Advisors LLC increased its stake in shares of Revvity by 74.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company’s stock valued at $41,000 after purchasing an additional 167 shares in the last quarter. Continuum Advisory LLC raised its holdings in Revvity by 2,972.7% in the 3rd quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock worth $43,000 after purchasing an additional 327 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in Revvity by 55.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock worth $43,000 after purchasing an additional 138 shares in the last quarter. Finally, Avior Wealth Management LLC grew its holdings in Revvity by 7,980.0% in the third quarter. Avior Wealth Management LLC now owns 404 shares of the company’s stock valued at $52,000 after purchasing an additional 399 shares during the period. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Insider Buying and Selling

In other Revvity news, insider Tajinder S. Vohra sold 5,492 shares of the company’s 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 directly owns 19,652 shares in the company, valued at $2,295,550.12. This represents a 21.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on RVTY shares. Robert W. Baird increased their target price on Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Leerink Partners boosted their target price on shares of Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Sanford C. Bernstein lowered shares of Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price target on the stock. in a research note on Friday, January 10th. TD Cowen boosted their price objective on Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. 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 report on Friday, December 13th. Five equities research 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $132.00.

Revvity Stock Up 0.2 %

Shares of RVTY opened at $123.02 on Friday. Revvity, Inc. has a 52-week low of $97.32 and a 52-week high of $129.50. The company has a quick ratio of 2.97, a current ratio of 3.56 and a debt-to-equity ratio of 0.40. The stock has a fifty day simple moving average of $115.02 and a two-hundred day simple moving average of $117.95. The company has a market capitalization of $14.97 billion, a PE ratio of 59.43, a price-to-earnings-growth ratio of 3.68 and a beta of 1.03.

Revvity (NYSE:RVTY) last released its quarterly earnings data on Monday, November 4th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.15. The firm 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%. Revvity’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the business earned $1.18 earnings per share. As a group, equities analysts forecast that Revvity, Inc. will post 4.84 EPS for the current year.

Revvity declared that its board has initiated a stock buyback program on Monday, November 4th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 6.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Revvity Dividend Announcement

The firm 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. This represents a $0.28 dividend on an annualized basis and a yield of 0.23%. Revvity’s dividend payout ratio is presently 13.53%.

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.