HB Wealth Management LLC Has $266,000 Holdings in Revvity, Inc. (NYSE:RVTY)

HB Wealth Management LLC lifted its holdings in shares of Revvity, Inc. (NYSE:RVTY) by 4.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,380 shares of the company’s stock after acquiring an additional 104 shares during the period. HB Wealth Management LLC’s holdings in Revvity were worth $266,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of RVTY. EdgePoint Investment Group Inc. grew its holdings in Revvity by 34.6% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 2,685,775 shares of the company’s stock worth $343,108,000 after acquiring an additional 690,534 shares during the period. Southpoint Capital Advisors LP acquired a new stake in shares of Revvity during the third quarter worth $25,550,000. Janus Henderson Group PLC increased its holdings in Revvity by 1.7% in the third quarter. Janus Henderson Group PLC now owns 6,335,302 shares of the company’s stock valued at $809,332,000 after purchasing an additional 108,401 shares during the last quarter. Holocene Advisors LP lifted its stake in Revvity by 14.6% in the third quarter. Holocene Advisors LP now owns 725,917 shares of the company’s stock valued at $92,736,000 after buying an additional 92,240 shares during the period. Finally, Contravisory Investment Management Inc. boosted its holdings in Revvity by 1,715.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 69,186 shares of the company’s stock worth $7,722,000 after buying an additional 65,376 shares during the last quarter. 86.65% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Revvity news, insider Tajinder S. Vohra sold 5,492 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $116.81, for a total transaction of $641,520.52. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.60% of the company’s stock.

Revvity Stock Up 0.2 %

Shares of RVTY stock opened at $123.27 on Friday. The firm’s fifty day moving average price is $115.16 and its two-hundred day moving average price is $117.98. 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 1 year low of $97.32 and a 1 year high of $129.50. The firm has a market capitalization of $15.00 billion, a P/E ratio of 59.55, a PEG ratio of 3.67 and a beta of 1.03.

Revvity (NYSE:RVTY) last released its earnings results on Monday, November 4th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.15. The business had revenue of $684.10 million for the quarter, compared to the consensus estimate of $679.66 million. Revvity had a return on equity of 7.42% and a net margin of 9.34%. Revvity’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.18 earnings per share. On average, equities analysts predict that Revvity, Inc. will post 4.84 EPS for the current fiscal year.

Revvity declared that its board has authorized a share repurchase program on Monday, November 4th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 6.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Revvity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 18th will be issued a dividend of $0.07 per share. The ex-dividend date is Thursday, April 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.23%. Revvity’s payout ratio is 13.53%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. 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 note on Tuesday. Leerink Partners lifted their price target on shares of Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. TD Cowen upped their price objective on shares of Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Barclays decreased their target price on Revvity from $140.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Finally, Sanford C. Bernstein lowered Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price target on the stock. in a research report on Friday, January 10th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Revvity currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.00.

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.