Revvity, Inc. (NYSE:RVTY) Shares Purchased by KBC Group NV

KBC Group NV raised its stake in shares of Revvity, Inc. (NYSE:RVTY) by 2.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,522 shares of the company’s stock after buying an additional 879 shares during the quarter. KBC Group NV’s holdings in Revvity were worth $3,853,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Gladius Capital Management LP acquired a new stake in Revvity during the third quarter worth approximately $32,000. Continuum Advisory LLC lifted its stake in shares of Revvity by 2,972.7% during 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 holdings in shares of 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 during the last quarter. Avior Wealth Management LLC grew its position in shares of 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. Finally, Eastern Bank purchased a new position in Revvity during the third quarter worth about $80,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Revvity Trading Down 0.6 %

NYSE RVTY opened at $126.13 on Friday. The stock has a market cap of $15.35 billion, a P/E ratio of 60.93, a PEG ratio of 4.09 and a beta of 1.03. The company’s fifty day simple moving average is $116.60 and its 200-day simple moving average is $118.60. The company has a current ratio of 3.56, a quick ratio of 2.97 and a debt-to-equity ratio of 0.40. Revvity, Inc. has a 52 week low of $97.32 and a 52 week high of $129.50.

Revvity (NYSE:RVTY) last posted its quarterly earnings data on Friday, January 31st. The company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.05. Revvity had a net margin of 9.34% and a return on equity of 7.42%. During the same period in the previous year, the company posted $1.25 earnings per share. Equities research analysts predict that Revvity, Inc. will post 4.84 EPS for the current fiscal year.

Revvity declared that its board has approved a share repurchase program on Monday, November 4th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to reacquire up to 6.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Revvity Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 18th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $0.28 annualized dividend and a yield of 0.22%. Revvity’s dividend payout ratio is presently 13.53%.

Insider Buying and Selling at Revvity

In other Revvity news, insider Joel S. Goldberg sold 15,170 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $126.73, for a total transaction of $1,922,494.10. Following the sale, the insider now owns 33,400 shares in the company, valued at $4,232,782. This represents a 31.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Tajinder S. Vohra sold 5,492 shares of Revvity 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 transaction, 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 disclosure for this sale can be found here. 0.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have commented on RVTY shares. Barclays lowered their price target on Revvity from $140.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Robert W. Baird increased their price target on shares of Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Leerink Partners boosted their price objective 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. Bank of America upgraded Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price objective for the company in a report on Friday, December 13th. Finally, Raymond James lowered their price target on Revvity from $146.00 to $140.00 and set an “outperform” rating for the company in a research report on Tuesday, January 21st. Five investment 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $132.00.

About Revvity

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.