Institute for Wealth Management LLC. Has $468,000 Stock Position in Revvity, Inc. (NYSE:RVTY)

Institute for Wealth Management LLC. reduced its position in Revvity, Inc. (NYSE:RVTY) by 4.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 4,191 shares of the company’s stock after selling 190 shares during the period. Institute for Wealth Management LLC.’s holdings in Revvity were worth $468,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of RVTY. Gladius Capital Management LP bought a new position in Revvity in the 3rd quarter valued at about $32,000. Continuum Advisory LLC raised its holdings in Revvity by 2,972.7% in the 3rd quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock valued at $43,000 after acquiring an additional 327 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in 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 acquiring an additional 138 shares during the period. Avior Wealth Management LLC raised its holdings in Revvity by 7,980.0% in 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 period. Finally, Eastern Bank bought a new position in Revvity in the 3rd quarter valued at about $80,000. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RVTY has been the topic of several research analyst reports. Leerink Partners increased their price target on shares of Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. 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 report on Monday, November 25th. Raymond James lowered their target price on shares of Revvity from $146.00 to $140.00 and set an “outperform” rating on the stock in a report on Tuesday, January 21st. Sanford C. Bernstein cut shares of Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 target price on the stock. in a report on Friday, January 10th. Finally, TD Cowen raised their target price on shares of Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $132.00.

Revvity Stock Performance

Shares of NYSE:RVTY opened at $126.13 on Friday. The company’s 50 day simple moving average is $116.60 and its 200 day simple moving average is $118.60. The stock has a market capitalization of $15.35 billion, a price-to-earnings ratio of 60.93, a price-to-earnings-growth ratio of 4.09 and a beta of 1.03. 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 1 year low of $97.32 and a 1 year high of $129.50.

Revvity (NYSE:RVTY) last announced its quarterly earnings data on Friday, January 31st. The company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.05. Revvity had a net margin of 9.34% and a return on equity of 7.42%. During the same period in the previous year, the business earned $1.25 EPS. As a group, research analysts predict that Revvity, Inc. will post 4.84 EPS for the current fiscal year.

Revvity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 18th will be given a $0.07 dividend. 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 0.22%. Revvity’s dividend payout ratio is currently 13.53%.

Revvity declared that its Board of Directors has approved a share 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 reacquire up to 6.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Revvity

In other Revvity news, insider Tajinder S. Vohra sold 5,492 shares of the firm’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 value of $641,520.52. Following the sale, the insider now owns 19,652 shares in the company, valued at $2,295,550.12. This trade represents a 21.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Joel S. Goldberg sold 15,170 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $126.73, for a total transaction of $1,922,494.10. Following the completion of the sale, the insider now 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. Company insiders own 0.60% of the company’s stock.

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.