Venturi Wealth Management LLC Buys 635 Shares of Revvity, Inc. (NYSE:RVTY)

Venturi Wealth Management LLC raised its stake in Revvity, Inc. (NYSE:RVTY) by 258.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 881 shares of the company’s stock after acquiring an additional 635 shares during the quarter. Venturi Wealth Management LLC’s holdings in Revvity were worth $113,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Janney Montgomery Scott LLC lifted its holdings in shares of Revvity by 104.7% during the first quarter. Janney Montgomery Scott LLC now owns 9,353 shares of the company’s stock worth $982,000 after buying an additional 4,783 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in Revvity by 8.0% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,258 shares of the company’s stock valued at $342,000 after purchasing an additional 240 shares during the period. Quantbot Technologies LP acquired a new position in shares of Revvity during the 1st quarter worth approximately $214,000. Sei Investments Co. increased its holdings in shares of Revvity by 12.5% during the first quarter. Sei Investments Co. now owns 22,585 shares of the company’s stock worth $2,372,000 after purchasing an additional 2,506 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in shares of Revvity in the first quarter valued at approximately $56,000. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Tajinder S. Vohra sold 2,154 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $121.73, for a total value of $262,206.42. Following the completion of the sale, the insider now owns 19,652 shares of the company’s stock, valued at approximately $2,392,237.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Revvity news, insider Tajinder S. Vohra sold 2,154 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total transaction of $262,206.42. Following the completion of the sale, the insider now owns 19,652 shares of the company’s stock, valued at approximately $2,392,237.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Tajinder S. Vohra sold 2,153 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $122.09, for a total transaction of $262,859.77. Following the transaction, the insider now owns 23,960 shares of the company’s stock, valued at approximately $2,925,276.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.

Revvity Price Performance

Revvity stock opened at $119.74 on Thursday. The stock has a 50-day moving average price of $121.61 and a two-hundred day moving average price of $115.19. Revvity, Inc. has a 12 month low of $86.15 and a 12 month high of $129.50. The company has a market capitalization of $14.57 billion, a PE ratio of 57.92, a P/E/G ratio of 3.01 and a beta of 1.05. 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 (NYSE:RVTY) last posted its earnings results on Monday, November 4th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.13 by $0.15. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The business had revenue of $684.10 million for the quarter, compared to the consensus estimate of $679.66 million. During the same period last year, the company earned $1.18 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. Analysts expect that Revvity, Inc. will post 4.85 EPS for the current year.

Revvity announced that its Board of Directors has authorized 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 generally an indication that the company’s management believes its stock is undervalued.

Revvity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.23%. The ex-dividend date is Friday, January 17th. Revvity’s dividend payout ratio is currently 13.53%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Robert W. Baird increased their price target on Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Leerink Partners raised their price target on Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Wells Fargo & Company started coverage on shares of Revvity in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $130.00 price objective for the company. TD Cowen raised their target price on shares of Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, Citigroup boosted their target price on shares of Revvity from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Revvity has an average rating of “Moderate Buy” and a consensus price target of $132.07.

Revvity Company 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.