Legacy Capital Group California Inc. Makes New $550,000 Investment in Revvity, Inc. (NYSE:RVTY)

Legacy Capital Group California Inc. purchased a new stake in shares of Revvity, Inc. (NYSE:RVTY) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 4,927 shares of the company’s stock, valued at approximately $550,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Janus Henderson Group PLC raised its holdings in Revvity by 1.7% during the third quarter. Janus Henderson Group PLC now owns 6,335,302 shares of the company’s stock valued at $809,332,000 after buying an additional 108,401 shares in the last quarter. State Street Corp raised its stake in shares of Revvity by 0.3% in the 3rd quarter. State Street Corp now owns 5,180,169 shares of the company’s stock valued at $661,767,000 after acquiring an additional 17,832 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Revvity by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,863,793 shares of the company’s stock worth $364,569,000 after purchasing an additional 25,078 shares during the last quarter. EdgePoint Investment Group Inc. lifted its holdings in Revvity by 34.6% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 2,685,775 shares of the company’s stock worth $343,108,000 after purchasing an additional 690,534 shares during the last quarter. Finally, RGM Capital LLC boosted its position in Revvity by 3.2% during the third quarter. RGM Capital LLC now owns 980,858 shares of the company’s stock worth $125,305,000 after purchasing an additional 30,000 shares during the period. Institutional investors and hedge funds own 86.65% of the company’s stock.

Insider Transactions at Revvity

In related news, insider Joel S. Goldberg sold 15,170 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $126.73, for a total transaction of $1,922,494.10. Following the completion of the transaction, the insider now owns 33,400 shares in the company, valued at $4,232,782. This trade represents a 31.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tajinder S. Vohra sold 5,492 shares of the business’s stock in a transaction 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 completion of the sale, 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. 0.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

RVTY has been the subject of a number of analyst reports. KeyCorp boosted their price objective 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. Bank of America raised shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 target price for the company in a research report on Friday, December 13th. Raymond James reaffirmed an “outperform” rating and issued a $145.00 price target (up from $140.00) on shares of Revvity in a research report on Monday, February 3rd. TD Cowen lifted their price objective on Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Robert W. Baird increased their target price on Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $136.25.

Revvity Stock Down 0.4 %

RVTY stock opened at $114.55 on Friday. The business’s 50-day simple moving average is $116.83 and its 200 day simple moving average is $118.70. The company has a quick ratio of 3.03, a current ratio of 3.60 and a debt-to-equity ratio of 0.41. The company has a market cap of $13.94 billion, a PE ratio of 51.83, a price-to-earnings-growth ratio of 3.72 and a beta of 1.03. Revvity, Inc. has a twelve month low of $97.32 and a twelve month high of $129.50.

Revvity (NYSE:RVTY) last released 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 return on equity of 7.68% and a net margin of 9.81%. During the same quarter in the previous year, the firm earned $1.25 EPS. On average, research analysts anticipate that Revvity, Inc. will post 4.94 earnings per share for the current year.

Revvity announced that its Board of Directors has initiated a share repurchase program on Monday, November 4th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to buy up to 6.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Revvity Dividend Announcement

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

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.