Revvity, Inc. (NYSE:RVTY) Shares Purchased by Tidal Investments LLC

Tidal Investments LLC raised its stake in Revvity, Inc. (NYSE:RVTY) by 2,388.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 52,787 shares of the company’s stock after acquiring an additional 50,666 shares during the quarter. Tidal Investments LLC’s holdings in Revvity were worth $6,744,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of RVTY. Coldstream Capital Management Inc. raised its position in shares of Revvity by 5.1% in the third quarter. Coldstream Capital Management Inc. now owns 2,247 shares of the company’s stock worth $286,000 after acquiring an additional 110 shares during the period. Geode Capital Management LLC increased its stake in shares of Revvity by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,863,793 shares of the company’s stock valued at $364,569,000 after purchasing an additional 25,078 shares in the last quarter. Guardian Wealth Management Inc. raised its holdings in Revvity by 1.4% in the 3rd quarter. Guardian Wealth Management Inc. now owns 11,796 shares of the company’s stock worth $1,507,000 after purchasing an additional 158 shares during the period. Continuum Advisory LLC boosted its position in Revvity by 2,972.7% during the third quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock worth $43,000 after purchasing an additional 327 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its holdings in Revvity by 2.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 36,300 shares of the company’s stock valued at $4,637,000 after purchasing an additional 729 shares during the period. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on RVTY shares. Raymond James upped their target price on Revvity from $144.00 to $146.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Robert W. Baird upped their price objective on shares of Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Sanford C. Bernstein dropped their target price on shares of Revvity from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Leerink Partners upped their price target 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, TD Cowen lifted their price objective on Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $132.47.

Insider Buying and Selling

In other news, insider Tajinder S. Vohra sold 2,154 shares of Revvity stock in a transaction on 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 of the company’s stock, valued at approximately $2,392,237.96. The trade was a 9.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.60% of the company’s stock.

Revvity Stock Performance

Shares of RVTY stock opened at $115.97 on Friday. The firm has a 50 day moving average of $118.25 and a two-hundred day moving average of $116.34. The stock has a market capitalization of $14.11 billion, a PE ratio of 56.02, a P/E/G ratio of 3.59 and a beta of 1.03. The company has a quick ratio of 2.97, a current ratio of 3.56 and a debt-to-equity ratio of 0.40. Revvity, Inc. has a 52 week low of $97.32 and a 52 week high of $129.50.

Revvity (NYSE:RVTY) last released its earnings results on Monday, November 4th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $679.66 million. During the same period last year, the business posted $1.18 earnings per share. Revvity’s revenue was up 2.1% compared to the same quarter last year. On average, research analysts predict that Revvity, Inc. will post 4.85 EPS for the current fiscal year.

Revvity Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date of this dividend is Friday, January 17th. Revvity’s dividend payout ratio is presently 13.53%.

Revvity announced that its Board of Directors has initiated a share buyback program on Monday, November 4th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase up to 6.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.