Revvity, Inc. (NYSE:RVTY) Stake Increased by RGM Capital LLC

RGM Capital LLC raised its stake in shares of Revvity, Inc. (NYSE:RVTY) by 3.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 980,858 shares of the company’s stock after buying an additional 30,000 shares during the quarter. Revvity comprises 5.4% of RGM Capital LLC’s portfolio, making the stock its 8th largest holding. RGM Capital LLC owned approximately 0.81% of Revvity worth $125,305,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Rothschild Investment LLC bought a new position in shares of Revvity in the second quarter worth $25,000. Gladius Capital Management LP bought a new position in Revvity in the 3rd quarter worth about $32,000. EverSource Wealth Advisors LLC raised its holdings in shares of Revvity by 74.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company’s stock valued at $41,000 after acquiring an additional 167 shares in the last quarter. Avior Wealth Management LLC boosted its position in shares of Revvity by 7,980.0% during the 3rd quarter. Avior Wealth Management LLC now owns 404 shares of the company’s stock valued at $52,000 after acquiring an additional 399 shares during the last quarter. Finally, Fairfield Financial Advisors LTD purchased a new position in shares of Revvity during the second quarter worth about $43,000. 86.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on RVTY shares. Barclays lowered their target price on shares of Revvity from $140.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday. Citigroup raised their price objective 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. TD Cowen increased their target price on Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Sanford C. Bernstein dropped their price target on Revvity from $150.00 to $145.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Finally, Raymond James increased their price objective on Revvity from $144.00 to $146.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $131.73.

Revvity Trading Up 1.4 %

Revvity stock traded up $1.59 during trading hours on Wednesday, reaching $116.66. The stock had a trading volume of 49,627 shares, compared to its average volume of 840,663. The stock has a market cap of $14.20 billion, a PE ratio of 55.62, a PEG ratio of 2.86 and a beta of 1.05. The company has a fifty day simple moving average of $120.22 and a 200-day simple moving average of $115.89. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.56 and a quick ratio of 2.97. Revvity, Inc. has a 52 week low of $86.30 and a 52 week high of $129.50.

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

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 issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.24%. Revvity’s dividend payout ratio is presently 13.53%.

Revvity declared that its Board of Directors has approved a stock 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 usually a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Tajinder S. Vohra sold 2,154 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total transaction of $262,206.42. Following the transaction, the insider now owns 19,652 shares in the company, valued at $2,392,237.96. The trade was a 9.88 % 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. 0.60% of the stock is currently owned by insiders.

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.