Legacy Capital Group California Inc. Purchases New Shares in Revvity, Inc. (NYSE:RVTY)

Legacy Capital Group California Inc. acquired a new position in Revvity, Inc. (NYSE:RVTY) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,927 shares of the company’s stock, valued at approximately $550,000.

Other large investors also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in shares of Revvity by 13.7% in the third quarter. JPMorgan Chase & Co. now owns 344,115 shares of the company’s stock valued at $43,961,000 after buying an additional 41,497 shares during the last quarter. Contravisory Investment Management Inc. increased its position in Revvity by 1,715.9% in the 4th quarter. Contravisory Investment Management Inc. now owns 69,186 shares of the company’s stock valued at $7,722,000 after acquiring an additional 65,376 shares in the last quarter. Bretton Capital Management LLC bought a new position in shares of Revvity in the third quarter worth about $1,405,000. FMR LLC lifted its position in shares of Revvity by 40.8% during the third quarter. FMR LLC now owns 155,556 shares of the company’s stock worth $19,872,000 after purchasing an additional 45,040 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of Revvity by 12,674.8% during the third quarter. International Assets Investment Management LLC now owns 13,669 shares of the company’s stock valued at $1,746,000 after purchasing an additional 13,562 shares during the last quarter. Institutional investors own 86.65% of the company’s stock.

Revvity Stock Performance

Shares of RVTY stock opened at $114.55 on Friday. The stock has a market cap of $13.94 billion, a PE ratio of 51.83, a price-to-earnings-growth ratio of 3.72 and a beta of 1.03. The stock has a 50-day moving average of $116.83 and a 200-day moving average of $118.70. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.60 and a quick ratio of 3.03. Revvity, Inc. has a one year low of $97.32 and a one year high of $129.50.

Revvity (NYSE:RVTY) last issued its 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 period in the prior year, the firm earned $1.25 earnings per share. As a group, sell-side analysts expect that Revvity, Inc. will post 4.94 earnings per share for the current year.

Revvity Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 18th 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 Thursday, April 17th. Revvity’s dividend payout ratio is currently 12.67%.

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on RVTY shares. TD Cowen boosted their price objective on shares of Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Sanford C. Bernstein downgraded Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 target price for the company. in a research report on Friday, January 10th. Raymond James reiterated an “outperform” rating and issued a $145.00 price target (up previously from $140.00) on shares of Revvity in a report on Monday, February 3rd. Bank of America upgraded Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price objective for the company in a research report on Friday, December 13th. Finally, Barclays upped their target price on shares of Revvity from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $136.25.

Insider Buying and Selling

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

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.