Revvity, Inc. (NYSE:RVTY) Stock Position Raised by RGM Capital LLC

RGM Capital LLC grew its position in shares of Revvity, Inc. (NYSE:RVTY) by 3.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 980,858 shares of the company’s stock after acquiring an additional 30,000 shares during the quarter. Revvity makes up 5.4% of RGM Capital LLC’s holdings, making the stock its 8th largest holding. RGM Capital LLC’s holdings in Revvity were worth $125,305,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Rothschild Investment LLC purchased a new position in shares of Revvity in the second quarter worth approximately $25,000. Gladius Capital Management LP purchased a new position in shares of Revvity during the 3rd quarter worth $32,000. EverSource Wealth Advisors LLC grew its position in shares of Revvity by 74.2% during 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 during the period. Family Firm Inc. bought a new stake in shares of Revvity during the 2nd quarter valued at $43,000. Finally, Fairfield Financial Advisors LTD purchased a new stake in shares of Revvity in the 2nd quarter worth $43,000. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Revvity

In related news, insider Tajinder S. Vohra sold 2,153 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $122.09, for a total value of $262,859.77. Following the completion of the transaction, the insider now directly owns 23,960 shares of the company’s stock, valued at $2,925,276.40. This trade represents a 8.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

RVTY has been the subject of several recent research reports. JPMorgan Chase & Co. boosted their price target on Revvity from $105.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Raymond James increased their target price on shares of Revvity from $144.00 to $146.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Bank of America upped their price target on shares of Revvity from $118.00 to $127.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. 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. Finally, Sanford C. Bernstein dropped their target price on shares of Revvity from $150.00 to $145.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.73.

Revvity Price Performance

Shares of NYSE:RVTY traded up $1.59 on Wednesday, reaching $116.66. The company’s stock had a trading volume of 49,627 shares, compared to its average volume of 840,663. The company has a 50-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 quick ratio of 2.97 and a current ratio of 3.56. The company has a market cap of $14.20 billion, a P/E ratio of 55.62, a PEG ratio of 2.86 and a beta of 1.05. Revvity, Inc. has a 52-week low of $86.30 and a 52-week high of $129.50.

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

Revvity declared that its Board of Directors has authorized a share repurchase plan on Monday, November 4th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 6.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Revvity Announces Dividend

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

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.