SG Americas Securities LLC Sells 9,446 Shares of Revvity, Inc. (NYSE:RVTY)

SG Americas Securities LLC lowered its stake in Revvity, Inc. (NYSE:RVTY) by 18.9% in the 4th quarter, Holdings Channel reports. The firm owned 40,568 shares of the company’s stock after selling 9,446 shares during the quarter. SG Americas Securities LLC’s holdings in Revvity were worth $4,528,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Empirical Finance LLC grew its stake in Revvity by 2.0% during the third quarter. Empirical Finance LLC now owns 4,237 shares of the company’s stock valued at $541,000 after acquiring an additional 85 shares in the last quarter. CX Institutional increased its stake in Revvity by 1.1% in the third quarter. CX Institutional now owns 7,984 shares of the company’s stock valued at $1,020,000 after acquiring an additional 86 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Revvity by 2.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,214 shares of the company’s stock valued at $470,000 after purchasing an additional 100 shares in the last quarter. HB Wealth Management LLC boosted its holdings in shares of Revvity by 4.6% in the 4th quarter. HB Wealth Management LLC now owns 2,380 shares of the company’s stock worth $266,000 after purchasing an additional 104 shares in the last quarter. Finally, Westside Investment Management Inc. raised its holdings in shares of Revvity by 0.8% during the 4th quarter. Westside Investment Management Inc. now owns 14,363 shares of the company’s stock valued at $1,603,000 after buying an additional 108 shares in the last quarter. 86.65% of the stock is currently owned by institutional investors.

Insider Activity at Revvity

In related news, insider Tajinder S. Vohra sold 5,492 shares of the business’s stock in a transaction that occurred on 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 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

RVTY has been the topic of a number of recent research reports. Leerink Partners increased their price target on shares of Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Bank of America raised shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 target price on the stock in a report on Friday, December 13th. Barclays cut their price target on shares of Revvity from $140.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. 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. Finally, Robert W. Baird raised their price target on Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $132.00.

Revvity Stock Up 0.2 %

Shares of Revvity stock opened at $123.27 on Friday. The company has a 50-day simple moving average of $115.16 and a two-hundred day simple moving average of $117.98. The stock has a market capitalization of $15.00 billion, a PE ratio of 59.55, a price-to-earnings-growth ratio of 3.67 and a beta of 1.03. Revvity, Inc. has a 52-week low of $97.32 and a 52-week high of $129.50. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.97 and a current ratio of 3.56.

Revvity (NYSE:RVTY) last announced its quarterly 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 for the quarter, compared to the consensus estimate of $679.66 million. During the same period in the prior year, the company posted $1.18 earnings per share. The company’s quarterly revenue was up 2.1% on a year-over-year basis. On average, analysts anticipate that Revvity, Inc. will post 4.84 EPS for the current fiscal year.

Revvity announced that its board has approved a stock repurchase program on Monday, November 4th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 6.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Revvity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 18th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend is Thursday, April 17th. Revvity’s payout ratio is currently 13.53%.

About Revvity

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.