Revvity, Inc. (NYSE:RVTY) Shares Sold by Byrne Asset Management LLC

Byrne Asset Management LLC reduced its stake in shares of Revvity, Inc. (NYSE:RVTY) by 1.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 9,383 shares of the company’s stock after selling 105 shares during the period. Byrne Asset Management LLC’s holdings in Revvity were worth $1,047,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Gladius Capital Management LP purchased a new stake in shares of Revvity during the 3rd quarter worth about $32,000. Continuum Advisory LLC boosted its position 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 purchasing an additional 327 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of Revvity by 55.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock valued at $43,000 after buying an additional 138 shares in the last quarter. Avior Wealth Management LLC raised its stake 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 worth $52,000 after buying an additional 399 shares during the period. Finally, Eastern Bank purchased a new position in shares of Revvity during the 3rd quarter valued at approximately $80,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Revvity Price Performance

Shares of RVTY stock opened at $118.86 on Friday. 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 company has a market capitalization of $14.47 billion, a PE ratio of 53.78, a price-to-earnings-growth ratio of 4.17 and a beta of 1.03. The firm’s 50-day moving average is $117.41 and its two-hundred day moving average is $119.03. Revvity, Inc. has a 12 month low of $97.32 and a 12 month high of $129.50.

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

Revvity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 18th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $0.28 annualized dividend and a yield of 0.24%. Revvity’s dividend payout ratio (DPR) is currently 12.67%.

Revvity announced that its Board of Directors has authorized a stock buyback program on Monday, November 4th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 6.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on RVTY shares. Leerink Partners boosted their price target on shares of Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. KeyCorp boosted their target price on shares of Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Sanford C. Bernstein cut Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 target price for the company. in a report on Friday, January 10th. TD Cowen boosted their price target on Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Bank of America raised Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price objective for the company in a research note on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Revvity currently has an average rating of “Moderate Buy” and a consensus target price of $136.25.

Insider Buying and Selling at Revvity

In related news, insider Tajinder S. Vohra sold 5,492 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total transaction of $641,520.52. Following the sale, the insider now directly owns 19,652 shares of the company’s stock, valued at $2,295,550.12. This represents a 21.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joel S. Goldberg sold 15,170 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $126.73, for a total value of $1,922,494.10. Following the sale, the insider now directly owns 33,400 shares in the company, valued at $4,232,782. This represents a 31.23 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by corporate insiders.

Revvity Company 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.