Institute for Wealth Management LLC. Has $468,000 Stake in Revvity, Inc. (NYSE:RVTY)

Institute for Wealth Management LLC. decreased its position in Revvity, Inc. (NYSE:RVTY) by 4.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,191 shares of the company’s stock after selling 190 shares during the period. Institute for Wealth Management LLC.’s holdings in Revvity were worth $468,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in 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 period. Contravisory Investment Management Inc. increased its stake in Revvity by 1,715.9% in the fourth quarter. Contravisory Investment Management Inc. now owns 69,186 shares of the company’s stock valued at $7,722,000 after purchasing an additional 65,376 shares in the last quarter. Bretton Capital Management LLC bought a new stake in Revvity in the third quarter valued at $1,405,000. FMR LLC increased its stake in Revvity by 40.8% in the third quarter. FMR LLC now owns 155,556 shares of the company’s stock valued at $19,872,000 after purchasing an additional 45,040 shares in the last quarter. Finally, Gateway Investment Advisers LLC increased its stake in Revvity by 942.5% in the third quarter. Gateway Investment Advisers LLC now owns 38,081 shares of the company’s stock valued at $4,865,000 after purchasing an additional 34,428 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RVTY. Raymond James decreased their price target on shares of Revvity from $146.00 to $140.00 and set an “outperform” rating for the company in a research note on Tuesday, January 21st. TD Cowen lifted their price target on shares of Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Robert W. Baird lifted their price target on shares of Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Leerink Partners lifted their price target on shares of Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Sanford C. Bernstein downgraded shares of 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. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Revvity presently has an average rating of “Moderate Buy” and an average target price of $132.00.

Revvity Stock Down 0.6 %

Revvity stock opened at $126.13 on Friday. Revvity, Inc. has a fifty-two week low of $97.32 and a fifty-two week high of $129.50. The stock has a market cap of $15.35 billion, a PE ratio of 60.93, a price-to-earnings-growth ratio of 4.09 and a beta of 1.03. The firm’s 50-day simple moving average is $116.60 and its 200 day simple moving average is $118.60. 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 released its quarterly earnings results on Friday, January 31st. The company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.05. Revvity had a net margin of 9.34% and a return on equity of 7.42%. During the same quarter in the previous year, the firm earned $1.25 EPS. Research analysts predict that Revvity, Inc. will post 4.84 EPS for the current fiscal year.

Revvity Announces Dividend

The company also recently declared 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. This represents a $0.28 annualized dividend and a yield of 0.22%. The ex-dividend date of this dividend is Thursday, April 17th. Revvity’s dividend payout ratio (DPR) is presently 13.53%.

Revvity declared that its board has authorized a share buyback plan on Monday, November 4th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other Revvity 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 value 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tajinder S. Vohra sold 5,492 shares of the business’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 transaction, the insider now 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. 0.60% of the stock is owned by corporate insiders.

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.