Revvity, Inc. (NYSE:RVTY) Shares Bought by Coldstream Capital Management Inc.

Coldstream Capital Management Inc. lifted its holdings in shares of Revvity, Inc. (NYSE:RVTY) by 5.1% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,247 shares of the company’s stock after buying an additional 110 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Revvity were worth $286,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC lifted its position in Revvity by 35.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,246 shares of the company’s stock worth $340,000 after acquiring an additional 844 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Revvity by 3,171.3% during the second quarter. Assenagon Asset Management S.A. now owns 87,180 shares of the company’s stock worth $9,142,000 after purchasing an additional 84,515 shares during the period. Blue Trust Inc. grew its position in Revvity by 24.3% in the 2nd quarter. Blue Trust Inc. now owns 1,124 shares of the company’s stock valued at $118,000 after buying an additional 220 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Revvity by 0.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 78,809 shares of the company’s stock valued at $8,264,000 after buying an additional 629 shares during the period. Finally, Arcus Capital Partners LLC purchased a new position in Revvity during the 2nd quarter worth $790,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wells Fargo & Company began coverage on shares of Revvity in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 target price on the stock. Leerink Partners lifted their price objective on Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Raymond James increased their target price on Revvity from $144.00 to $146.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Robert W. Baird lifted their price target on Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Finally, Bank of America upgraded Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price objective for the company in a research report on Friday. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Revvity presently has a consensus rating of “Moderate Buy” and an average price target of $132.47.

Revvity Stock Performance

NYSE:RVTY opened at $115.94 on Monday. Revvity, Inc. has a twelve month low of $97.32 and a twelve month high of $129.50. The company has a market capitalization of $14.11 billion, a P/E ratio of 56.01, a price-to-earnings-growth ratio of 3.59 and a beta of 1.03. The company has a current ratio of 3.56, a quick ratio of 2.97 and a debt-to-equity ratio of 0.40. The firm has a 50-day moving average price of $118.09 and a two-hundred day moving average price of $116.39.

Revvity (NYSE:RVTY) last posted 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 firm had revenue of $684.10 million for the quarter, compared to analyst estimates of $679.66 million. Revvity had a return on equity of 7.42% and a net margin of 9.34%. Revvity’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.18 EPS. As a group, research analysts expect that Revvity, Inc. will post 4.85 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date is Friday, January 17th. Revvity’s payout ratio is currently 13.53%.

Revvity announced that its board has initiated a stock 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 buy up to 6.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Tajinder S. Vohra sold 2,154 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total transaction of $262,206.42. Following the sale, the insider now owns 19,652 shares in the company, valued at approximately $2,392,237.96. This trade represents a 9.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.60% of the stock is currently owned by company insiders.

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.