Wealth Enhancement Advisory Services LLC Acquires 100 Shares of Revvity, Inc. (NYSE:RVTY)

Wealth Enhancement Advisory Services LLC increased its holdings in Revvity, Inc. (NYSE:RVTY) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,214 shares of the company’s stock after purchasing an additional 100 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Revvity were worth $470,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in shares of Revvity by 13.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 344,115 shares of the company’s stock worth $43,961,000 after acquiring an additional 41,497 shares in the last quarter. Bretton Capital Management LLC acquired a new stake in Revvity in the 3rd quarter worth approximately $1,405,000. FMR LLC lifted its holdings in Revvity by 40.8% in the 3rd quarter. FMR LLC now owns 155,556 shares of the company’s stock worth $19,872,000 after purchasing an additional 45,040 shares during the last quarter. Gateway Investment Advisers LLC boosted its position in Revvity by 942.5% during the third quarter. Gateway Investment Advisers LLC now owns 38,081 shares of the company’s stock worth $4,865,000 after purchasing an additional 34,428 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in Revvity by 12,674.8% during the third quarter. International Assets Investment Management LLC now owns 13,669 shares of the company’s stock valued at $1,746,000 after purchasing an additional 13,562 shares during the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Tajinder S. Vohra sold 5,492 shares of the business’s stock in a transaction 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 sale, the insider now owns 19,652 shares of the company’s stock, valued at $2,295,550.12. The trade was a 21.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.60% of the company’s stock.

Revvity Price Performance

Shares of RVTY stock opened at $119.49 on Friday. Revvity, Inc. has a 12 month low of $97.32 and a 12 month high of $129.50. The company has a market capitalization of $14.54 billion, a P/E ratio of 57.73, a P/E/G ratio of 3.37 and a beta of 1.03. The stock has a 50 day moving average of $115.02 and a two-hundred day moving average of $117.34. 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 quarterly 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. The firm 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 business’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.18 earnings per share. As a group, equities analysts expect that Revvity, Inc. will post 4.84 EPS for the current year.

Revvity announced that its Board of Directors has approved a stock buyback plan on Monday, November 4th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 6.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Revvity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be paid 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 0.23%. Revvity’s payout ratio is currently 13.53%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Leerink Partners boosted their price objective on shares of Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Barclays cut their target price 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. TD Cowen raised their price target on Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Sanford C. Bernstein cut Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price objective for the company. in a research report on Friday, January 10th. Finally, Robert W. Baird increased their target price on Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Revvity currently has an average rating of “Moderate Buy” and a consensus price target of $132.46.

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.