RDA Financial Network Increases Position in Revvity, Inc. (NYSE:RVTY)

RDA Financial Network boosted its position in Revvity, Inc. (NYSE:RVTY) by 5.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,216 shares of the company’s stock after acquiring an additional 157 shares during the period. RDA Financial Network’s holdings in Revvity were worth $359,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Gladius Capital Management LP purchased a new stake in shares of Revvity in the third quarter valued at $32,000. EverSource Wealth Advisors LLC increased its stake 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 last quarter. Continuum Advisory LLC lifted its holdings in shares of Revvity by 2,972.7% during the 3rd quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock worth $43,000 after acquiring an additional 327 shares during the period. Avior Wealth Management LLC boosted its position in shares of Revvity by 7,980.0% in the third quarter. Avior Wealth Management LLC now owns 404 shares of the company’s stock worth $52,000 after acquiring an additional 399 shares during the last quarter. Finally, Eastern Bank purchased a new stake in Revvity in the third quarter valued at approximately $80,000. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Revvity

In other news, insider Tajinder S. Vohra sold 5,492 shares of the company’s stock in a transaction dated 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 approximately $2,295,550.12. This represents a 21.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on RVTY shares. TD Cowen lifted their price target on shares of Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Robert W. Baird upped their price target on Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Raymond James raised their price objective on Revvity from $144.00 to $146.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Leerink Partners increased their target price on shares of Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, Bank of America raised shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price target on the stock in a research report on Friday, December 13th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $132.46.

Revvity Price Performance

RVTY opened at $118.29 on Friday. Revvity, Inc. has a twelve month low of $97.32 and a twelve month high of $129.50. The company has a current ratio of 3.56, a quick ratio of 2.97 and a debt-to-equity ratio of 0.40. The firm has a market cap of $14.40 billion, a price-to-earnings ratio of 57.15, a PEG ratio of 3.37 and a beta of 1.03. The company has a fifty day simple moving average of $114.94 and a 200 day simple moving average of $117.45.

Revvity (NYSE:RVTY) last announced its earnings results on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, beating 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 company had revenue of $684.10 million during the quarter, compared to the consensus estimate of $679.66 million. During the same period last year, the firm earned $1.18 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. Equities research analysts expect that Revvity, Inc. will post 4.84 EPS for the current fiscal year.

Revvity announced that its Board of Directors has authorized a stock buyback plan on Monday, November 4th that permits the company to repurchase $1.00 billion in 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 an indication that the company’s leadership believes its shares are undervalued.

Revvity Announces Dividend

The firm also recently announced 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 of this dividend is Friday, January 17th. Revvity’s dividend payout ratio (DPR) is currently 13.53%.

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.