Cerity Partners LLC Has $2.19 Million Stake in Revvity, Inc. (NYSE:RVTY)

Cerity Partners LLC grew its stake in shares of Revvity, Inc. (NYSE:RVTY) by 7.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 17,130 shares of the company’s stock after acquiring an additional 1,174 shares during the quarter. Cerity Partners LLC’s holdings in Revvity were worth $2,188,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of RVTY. Rothschild Investment LLC bought a new position in Revvity during the 2nd quarter worth approximately $25,000. Gladius Capital Management LP acquired a new stake in Revvity in the third quarter worth $32,000. EverSource Wealth Advisors LLC boosted its position in shares of Revvity by 74.2% during the second quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company’s stock worth $41,000 after purchasing an additional 167 shares in the last quarter. Family Firm Inc. acquired a new position in shares of Revvity in the 2nd quarter valued at $43,000. Finally, Fairfield Financial Advisors LTD bought a new stake in shares of Revvity in the 2nd quarter valued at $43,000. 86.65% of the stock is owned by institutional investors.

Revvity Trading Down 0.1 %

Shares of NYSE:RVTY opened at $116.14 on Monday. The company’s 50-day moving average price is $119.71 and its two-hundred day moving average price is $116.09. Revvity, Inc. has a one year low of $87.58 and a one year high of $129.50. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.56 and a quick ratio of 2.97. The stock has a market capitalization of $14.13 billion, a PE ratio of 56.11, a price-to-earnings-growth ratio of 3.57 and a beta of 1.05.

Revvity (NYSE:RVTY) last released its earnings results 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. Revvity had a return on equity of 7.42% and a net margin of 9.34%. The business had revenue of $684.10 million for the quarter, compared to analyst estimates of $679.66 million. During the same quarter in the prior year, the company posted $1.18 earnings per share. Revvity’s revenue was up 2.1% on a year-over-year basis. On average, equities analysts forecast that Revvity, Inc. will post 4.85 EPS for the current fiscal year.

Revvity announced that its board has initiated a share buyback plan on Monday, November 4th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to repurchase up to 6.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Revvity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.24%. The ex-dividend date of this dividend is Friday, January 17th. Revvity’s payout ratio is presently 13.53%.

Insider Activity at Revvity

In related news, insider Tajinder S. Vohra sold 2,153 shares of Revvity stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $122.09, for a total transaction of $262,859.77. Following the completion of the transaction, the insider now owns 23,960 shares in the company, valued at approximately $2,925,276.40. This trade represents a 8.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

RVTY has been the topic of several recent analyst reports. Barclays reduced their target price on Revvity from $140.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Sanford C. Bernstein cut their price objective on Revvity from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Leerink Partners boosted their price objective on Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Robert W. Baird raised their target price on shares of Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Finally, TD Cowen upped their price target on shares of Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $131.73.

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.