Revvity, Inc. (NYSE:RVTY) Shares Sold by Slocum Gordon & Co LLP

Slocum Gordon & Co LLP lowered its stake in shares of Revvity, Inc. (NYSE:RVTY) by 99.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,660 shares of the company’s stock after selling 556,579 shares during the period. Slocum Gordon & Co LLP’s holdings in Revvity were worth $297,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in RVTY. Gladius Capital Management LP acquired a new position in shares of Revvity during the third quarter worth about $32,000. Continuum Advisory LLC grew its holdings in Revvity by 2,972.7% during the third quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock worth $43,000 after acquiring an additional 327 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Revvity by 55.9% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock valued at $43,000 after purchasing an additional 138 shares in the last quarter. Avior Wealth Management LLC boosted its holdings in Revvity by 7,980.0% during the third quarter. Avior Wealth Management LLC now owns 404 shares of the company’s stock worth $52,000 after buying an additional 399 shares in the last quarter. Finally, Eastern Bank acquired a new position in Revvity during the third quarter worth about $80,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. KeyCorp boosted their target price on Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday. Leerink Partners lifted their price objective on Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Barclays boosted their price target on Revvity from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday. Raymond James reaffirmed an “outperform” rating and set a $145.00 price objective (up previously from $140.00) on shares of Revvity in a research note on Monday. Finally, Sanford C. Bernstein downgraded shares of Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 target price for the company. in a research note on Friday, January 10th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $136.25.

Insider Buying and Selling

In other news, insider Joel S. Goldberg sold 15,170 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $126.73, for a total value of $1,922,494.10. Following the completion of the sale, the insider now owns 33,400 shares of the company’s stock, valued at approximately $4,232,782. The trade was a 31.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tajinder S. Vohra sold 5,492 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 19,652 shares in the company, valued at approximately $2,295,550.12. This represents a 21.84 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Revvity Trading Down 2.6 %

NYSE:RVTY opened at $119.17 on Friday. Revvity, Inc. has a 12 month low of $97.32 and a 12 month high of $129.50. The business’s 50-day moving average is $117.35 and its two-hundred day moving average is $119.03. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.60 and a quick ratio of 3.03. The firm has a market capitalization of $14.50 billion, a PE ratio of 53.92, a price-to-earnings-growth ratio of 4.17 and a beta of 1.03.

Revvity (NYSE:RVTY) last announced its earnings results on Friday, January 31st. The company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.05. Revvity had a net margin of 9.81% and a return on equity of 7.68%. During the same period in the prior year, the firm earned $1.25 earnings per share. Research analysts predict that Revvity, Inc. will post 4.97 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 18th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.23%. Revvity’s dividend payout ratio (DPR) is presently 12.67%.

Revvity announced that its Board of Directors has authorized a share repurchase plan on Monday, November 4th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to buy up to 6.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

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.