Pathstone Holdings LLC Grows Stock Holdings in Revvity, Inc. (NYSE:RVTY)

Pathstone Holdings LLC raised its stake in shares of Revvity, Inc. (NYSE:RVTY) by 70.0% in the 3rd quarter, Holdings Channel reports. The fund owned 21,358 shares of the company’s stock after acquiring an additional 8,791 shares during the quarter. Pathstone Holdings LLC’s holdings in Revvity were worth $2,728,000 as of its most recent filing with the Securities & Exchange Commission.

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

Revvity Stock Up 2.3 %

RVTY stock opened at $114.66 on Tuesday. 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 firm has a market capitalization of $13.95 billion, a P/E ratio of 55.39, a P/E/G ratio of 2.80 and a beta of 1.05. Revvity, Inc. has a 52-week low of $86.30 and a 52-week high of $129.50. The company’s 50 day simple moving average is $120.37 and its 200-day simple moving average is $115.81.

Revvity (NYSE:RVTY) last announced its earnings results on Monday, November 4th. The company reported $1.28 earnings per share (EPS) 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 the consensus estimate of $679.66 million. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The company’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.18 EPS. As a group, equities research analysts anticipate that Revvity, Inc. will post 4.85 EPS for the current year.

Revvity announced that its board has initiated a share repurchase plan on Monday, November 4th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire up to 6.5% of its shares through open market purchases. Shares buyback plans are typically 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, February 7th. Shareholders of record on Friday, January 17th will be given a dividend of $0.07 per share. 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 presently 13.53%.

Insider Buying and Selling at Revvity

In other Revvity news, insider Tajinder S. Vohra sold 2,153 shares of Revvity stock in a transaction on Monday, October 7th. The shares were sold at an average price of $122.09, for a total transaction of $262,859.77. Following the completion of the sale, the insider now owns 23,960 shares of the company’s stock, valued at $2,925,276.40. This trade represents a 8.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on RVTY shares. TD Cowen lifted their target price on Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Jefferies Financial Group raised their price target on Revvity from $115.00 to $125.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Wells Fargo & Company started coverage on shares of Revvity in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $130.00 target price for the company. Barclays decreased their price target on Revvity from $140.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday. Finally, Robert W. Baird raised their price objective on shares of Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $131.73.

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.