Legacy Capital Wealth Partners LLC Makes New Investment in Revvity, Inc. (NYSE:RVTY)

Legacy Capital Wealth Partners LLC purchased a new position in Revvity, Inc. (NYSE:RVTY) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,644 shares of the company’s stock, valued at approximately $210,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Janus Henderson Group PLC increased its position in shares of Revvity by 3.9% during the first quarter. Janus Henderson Group PLC now owns 5,664,528 shares of the company’s stock worth $594,769,000 after acquiring an additional 210,100 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Revvity by 18.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,126,271 shares of the company’s stock worth $223,258,000 after buying an additional 332,632 shares during the period. EdgePoint Investment Group Inc. acquired a new stake in Revvity in the second quarter worth approximately $209,221,000. Dimensional Fund Advisors LP lifted its position in Revvity by 5.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,149,122 shares of the company’s stock worth $120,506,000 after purchasing an additional 57,656 shares during the period. Finally, Ceredex Value Advisors LLC increased its holdings in shares of Revvity by 2.2% in the second quarter. Ceredex Value Advisors LLC now owns 1,094,938 shares of the company’s stock valued at $114,815,000 after buying an additional 23,318 shares in the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Jefferies Financial Group upped their price target on Revvity from $115.00 to $125.00 and gave the company a “hold” rating in a report on Monday, July 29th. Wells Fargo & Company assumed coverage on shares of Revvity in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $130.00 target price on the stock. Bank of America boosted their target price on shares of Revvity from $118.00 to $127.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Barclays raised shares of Revvity from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $125.00 to $140.00 in a research note on Tuesday, October 15th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Revvity from $105.00 to $120.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Revvity presently has an average rating of “Moderate Buy” and an average target price of $132.07.

Revvity Trading Down 1.5 %

Shares of NYSE:RVTY opened at $120.64 on Tuesday. The stock has a market capitalization of $14.68 billion, a PE ratio of 58.28, a P/E/G ratio of 3.06 and a beta of 1.05. Revvity, Inc. has a 1 year low of $82.75 and a 1 year high of $129.50. The firm has a fifty day moving average price of $121.64 and a 200 day moving average price of $114.92. The company has a current ratio of 3.56, a quick ratio of 1.98 and a debt-to-equity ratio of 0.40.

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

Revvity Dividend Announcement

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 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date is Friday, January 17th. Revvity’s dividend payout ratio (DPR) is 13.53%.

Revvity declared that its board has initiated a stock buyback program on Monday, November 4th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows 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 leadership believes its stock is undervalued.

Insider Buying and Selling at Revvity

In other Revvity news, insider Tajinder S. Vohra sold 2,154 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total transaction of $262,206.42. Following the completion of the sale, the insider now directly owns 19,652 shares in the company, valued at $2,392,237.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Tajinder S. Vohra sold 2,153 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $122.09, for a total transaction of $262,859.77. Following the completion of the transaction, the insider now owns 23,960 shares of the company’s stock, valued at approximately $2,925,276.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tajinder S. Vohra sold 2,154 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total transaction of $262,206.42. Following the transaction, the insider now directly owns 19,652 shares of the company’s stock, valued at $2,392,237.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

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.