Oak Thistle LLC Invests $317,000 in Revvity, Inc. (NYSE:RVTY)

Oak Thistle LLC acquired a new position in Revvity, Inc. (NYSE:RVTY) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,842 shares of the company’s stock, valued at approximately $317,000.

Several other institutional investors have also bought and sold shares of RVTY. EdgePoint Investment Group Inc. acquired a new stake in shares of Revvity in the 2nd quarter worth approximately $209,221,000. Southpoint Capital Advisors LP bought a new stake in Revvity during the third quarter worth approximately $25,550,000. Janus Henderson Group PLC raised its holdings in Revvity by 1.7% during the third quarter. Janus Henderson Group PLC now owns 6,335,302 shares of the company’s stock worth $809,332,000 after purchasing an additional 108,401 shares in the last quarter. Holocene Advisors LP lifted its position in Revvity by 14.6% in the third quarter. Holocene Advisors LP now owns 725,917 shares of the company’s stock worth $92,736,000 after purchasing an additional 92,240 shares during the period. Finally, RGM Capital LLC boosted its stake in Revvity by 6.7% during the 2nd quarter. RGM Capital LLC now owns 950,858 shares of the company’s stock valued at $99,707,000 after purchasing an additional 59,994 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

Insider Buying and Selling at Revvity

In related news, insider Tajinder S. Vohra sold 5,492 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $116.81, for a total value 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on RVTY shares. Robert W. Baird upped their price objective on Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Barclays cut their price target on shares of Revvity from $140.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Raymond James raised their price objective on shares of Revvity from $144.00 to $146.00 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 report on Thursday, October 17th. Finally, Bank of America upgraded shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 target price for the company in a report on Friday, December 13th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Revvity presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.46.

Revvity Stock Performance

Shares of RVTY stock opened at $118.29 on Friday. The company has a market capitalization of $14.40 billion, a price-to-earnings ratio of 57.15, a P/E/G ratio of 3.37 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 current ratio of 3.56, a quick ratio of 2.97 and a debt-to-equity ratio of 0.40. The stock’s fifty day simple moving average is $114.94 and its 200-day simple moving average is $117.45.

Revvity (NYSE:RVTY) last released its earnings results on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.15. The company had revenue of $684.10 million for the quarter, compared to analysts’ expectations of $679.66 million. Revvity had a return on equity of 7.42% and a net margin of 9.34%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.18 EPS. On average, sell-side analysts predict that Revvity, Inc. will post 4.84 earnings per share for the current fiscal year.

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

Revvity Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be given a $0.07 dividend. The ex-dividend date is Friday, January 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.24%. Revvity’s payout ratio is 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.