Versor Investments LP Buys Shares of 4,319 Revvity, Inc. (NYSE:RVTY)

Versor Investments LP purchased a new position in Revvity, Inc. (NYSE:RVTY) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 4,319 shares of the company’s stock, valued at approximately $482,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Gladius Capital Management LP purchased a new position in Revvity during the third quarter valued at $32,000. Continuum Advisory LLC grew its stake in shares of Revvity by 2,972.7% in the third quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock worth $43,000 after acquiring an additional 327 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Revvity by 55.9% during the fourth 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 in the last quarter. Avior Wealth Management LLC raised its position in shares of 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 during the last quarter. Finally, Principal Securities Inc. boosted its stake in Revvity by 54.9% in the 4th quarter. Principal Securities Inc. now owns 598 shares of the company’s stock worth $67,000 after purchasing an additional 212 shares in the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Revvity Stock Up 1.7 %

Revvity stock opened at $112.28 on Friday. Revvity, Inc. has a one year low of $97.32 and a one year high of $129.50. The stock has a fifty day moving average of $116.88 and a 200 day moving average of $118.47. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.03 and a current ratio of 3.60. The stock has a market cap of $13.66 billion, a PE ratio of 50.81, a price-to-earnings-growth ratio of 3.82 and a beta of 1.03.

Revvity (NYSE:RVTY) last released its quarterly earnings results on Friday, January 31st. The company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.37 by $0.05. Revvity had a net margin of 9.81% and a return on equity of 7.68%. During the same quarter last year, the company posted $1.25 earnings per share. As a group, sell-side analysts predict that Revvity, Inc. will post 4.94 EPS for the current year.

Revvity announced that its board has approved a share repurchase program on Monday, November 4th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 6.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Revvity Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 0.25%. Revvity’s payout ratio is presently 12.67%.

Insider Transactions at Revvity

In other Revvity news, insider Joel S. Goldberg sold 15,170 shares of the company’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $126.73, for a total value 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Tajinder S. Vohra sold 5,492 shares of Revvity 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 transaction, the insider now directly owns 19,652 shares in the company, valued at approximately $2,295,550.12. The trade was a 21.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

RVTY has been the subject of a number of analyst reports. Sanford C. Bernstein lowered shares of Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price objective for the company. in a research note on Friday, January 10th. TD Cowen raised their price target on shares of Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Robert W. Baird boosted their price objective on shares of Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Barclays increased their target price on Revvity from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Raymond James restated an “outperform” rating and issued a $145.00 price target (up previously from $140.00) on shares of Revvity in a research note on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $136.25.

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.