Revvity, Inc. (NYSE:RVTY) Shares Sold by Everence Capital Management Inc.

Everence Capital Management Inc. cut its position in Revvity, Inc. (NYSE:RVTY) by 61.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,550 shares of the company’s stock after selling 5,620 shares during the period. Everence Capital Management Inc.’s holdings in Revvity were worth $396,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Empirical Finance LLC boosted its stake in Revvity by 2.0% during the 3rd quarter. Empirical Finance LLC now owns 4,237 shares of the company’s stock worth $541,000 after purchasing an additional 85 shares during the last quarter. CX Institutional raised its holdings in Revvity by 1.1% in the 3rd quarter. CX Institutional now owns 7,984 shares of the company’s stock valued at $1,020,000 after acquiring an additional 86 shares during the last quarter. Garrison Asset Management LLC raised its holdings in Revvity by 0.5% in the 2nd quarter. Garrison Asset Management LLC now owns 21,328 shares of the company’s stock valued at $2,236,000 after acquiring an additional 103 shares during the last quarter. Coldstream Capital Management Inc. boosted its holdings in shares of Revvity by 5.1% during the 3rd quarter. Coldstream Capital Management Inc. now owns 2,247 shares of the company’s stock worth $286,000 after purchasing an additional 110 shares during the last quarter. Finally, NorthCrest Asset Manangement LLC grew its position in shares of Revvity by 2.1% in the third quarter. NorthCrest Asset Manangement LLC now owns 7,398 shares of the company’s stock valued at $945,000 after purchasing an additional 154 shares in the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Revvity Trading Up 1.4 %

RVTY opened at $113.60 on Monday. 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 $13.83 billion, a price-to-earnings ratio of 54.88, a PEG ratio of 3.59 and a beta of 1.03. The business has a fifty day moving average price of $115.71 and a 200 day moving average price of $116.68. Revvity, Inc. has a 12 month low of $97.32 and a 12 month high of $129.50.

Revvity (NYSE:RVTY) last released its earnings results on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.15. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The firm had revenue of $684.10 million for the quarter, compared to analyst estimates of $679.66 million. During the same period in the prior year, the firm earned $1.18 earnings per share. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. Sell-side analysts expect that Revvity, Inc. will post 4.85 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.25%. Revvity’s dividend payout ratio (DPR) is currently 13.53%.

Revvity declared that its board has approved a share buyback plan on Monday, November 4th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 6.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. TD Cowen boosted their price objective on Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Sanford C. Bernstein lowered their price target on shares of Revvity from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Raymond James increased their price objective on Revvity from $144.00 to $146.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Bank of America raised shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 target price on the stock in a research report on Friday, December 13th. Finally, Barclays dropped their price target on shares of Revvity from $140.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Revvity has an average rating of “Moderate Buy” and a consensus price target of $133.00.

Insider Buying and Selling

In related news, insider Tajinder S. Vohra sold 2,154 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 19,652 shares of the company’s stock, valued at $2,392,237.96. This represents a 9.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.60% of the company’s stock.

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.