Millstone Evans Group LLC Invests $38,000 in Revvity, Inc. (NYSE:RVTY)

Millstone Evans Group LLC purchased a new stake in Revvity, Inc. (NYSE:RVTY) in the fourth quarter, Holdings Channel.com reports. The firm purchased 340 shares of the company’s stock, valued at approximately $38,000.

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RVTY. KeyCorp boosted their target price on Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Barclays upped their price objective on Revvity from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Sanford C. Bernstein cut Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 target price on the stock. in a report on Friday, January 10th. Raymond James reaffirmed an “outperform” rating and issued a $145.00 price target (up from $140.00) on shares of Revvity in a research note on Monday, February 3rd. Finally, Bank of America raised shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price objective on the stock in a research note on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $136.25.

Revvity Stock Performance

Shares of Revvity stock opened at $108.60 on Tuesday. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.60 and a quick ratio of 3.03. The firm has a market cap of $13.05 billion, a price-to-earnings ratio of 49.14, a price-to-earnings-growth ratio of 3.82 and a beta of 1.06. Revvity, Inc. has a one year low of $97.32 and a one year high of $129.50. The stock’s 50-day moving average is $116.15 and its 200-day moving average is $117.48.

Revvity (NYSE:RVTY) last released its quarterly earnings results on Friday, January 31st. The company reported $1.42 earnings per share for the quarter, topping 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 prior year, the company posted $1.25 earnings per share. Equities analysts predict that Revvity, Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 18th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $0.28 annualized dividend and a yield of 0.26%. Revvity’s payout ratio is presently 12.67%.

Insider Transactions at Revvity

In other news, insider Joel S. Goldberg sold 15,170 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $126.73, for a total transaction of $1,922,494.10. Following the transaction, the insider now directly owns 33,400 shares in the company, valued at $4,232,782. The trade was a 31.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Tajinder S. Vohra sold 5,492 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total transaction of $641,520.52. Following the completion of the sale, the insider now owns 19,652 shares of the company’s stock, valued at $2,295,550.12. This trade represents a 21.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.

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.