Guardian Wealth Management Inc. Increases Position in Revvity, Inc. (NYSE:RVTY)

Guardian Wealth Management Inc. grew its holdings in shares of Revvity, Inc. (NYSE:RVTY) by 1.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 11,796 shares of the company’s stock after purchasing an additional 158 shares during the period. Guardian Wealth Management Inc.’s holdings in Revvity were worth $1,507,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Rothschild Investment LLC purchased a new position in Revvity during the second quarter valued at $25,000. Gladius Capital Management LP bought a new position in shares of Revvity during the third quarter valued at $32,000. Continuum Advisory LLC raised its position in shares of Revvity by 2,972.7% in the 3rd quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock worth $43,000 after purchasing an additional 327 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Revvity by 74.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company’s stock worth $41,000 after purchasing an additional 167 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its stake in Revvity by 7,980.0% in the 3rd quarter. Avior Wealth Management LLC now owns 404 shares of the company’s stock worth $52,000 after purchasing an additional 399 shares in the last quarter. 86.65% of the stock is owned by institutional investors.

Revvity Price Performance

Shares of Revvity stock opened at $116.46 on Monday. The stock has a market cap of $14.17 billion, a P/E ratio of 56.26, a P/E/G ratio of 3.58 and a beta of 1.03. 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 stock’s fifty day moving average is $118.87 and its 200 day moving average is $116.25. Revvity, Inc. has a one year low of $88.90 and a one year high of $129.50.

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

Revvity declared that its board has approved a stock repurchase program on Monday, November 4th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 6.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Revvity Announces Dividend

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

Insiders Place Their Bets

In other news, insider Tajinder S. Vohra sold 2,154 shares of the company’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $121.73, for a total value of $262,206.42. Following the completion of the transaction, the insider now owns 19,652 shares of the company’s stock, valued at $2,392,237.96. This represents a 9.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on RVTY shares. Sanford C. Bernstein decreased 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. Raymond James boosted their price objective on shares of Revvity from $144.00 to $146.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. TD Cowen increased their target price on Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Barclays decreased their price target on Revvity from $140.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Finally, Wells Fargo & Company started coverage on Revvity in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $131.73.

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.