Nisa Investment Advisors LLC Has $8.85 Million Stock Position in Revvity, Inc. (NYSE:RVTY)

Nisa Investment Advisors LLC lessened its stake in Revvity, Inc. (NYSE:RVTY) by 0.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,256 shares of the company’s stock after selling 513 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Revvity were worth $8,846,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in RVTY. EdgePoint Investment Group Inc. acquired a new position in Revvity in the 2nd quarter worth $209,221,000. Southpoint Capital Advisors LP acquired a new stake in shares of Revvity in the 3rd quarter valued at about $25,550,000. Janus Henderson Group PLC lifted its holdings 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 valued at $809,332,000 after purchasing an additional 108,401 shares in the last quarter. Holocene Advisors LP boosted its position in shares of Revvity by 14.6% during the third quarter. Holocene Advisors LP now owns 725,917 shares of the company’s stock worth $92,736,000 after buying an additional 92,240 shares during the period. Finally, Contravisory Investment Management Inc. grew its holdings in shares of Revvity by 1,715.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 69,186 shares of the company’s stock worth $7,722,000 after buying an additional 65,376 shares in the last quarter. Institutional investors own 86.65% of the company’s stock.

Insider Transactions at Revvity

In other news, insider Tajinder S. Vohra sold 5,492 shares of Revvity stock in a transaction on Tuesday, January 7th. The stock was 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 approximately $2,295,550.12. This trade represents a 21.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

RVTY has been the topic of several research reports. Barclays cut their target price on Revvity from $140.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. 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. Raymond James decreased their target price on shares of Revvity from $146.00 to $140.00 and set an “outperform” rating for the company in a research report on Tuesday. Leerink Partners boosted 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, Sanford C. Bernstein cut Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price objective for the company. in a report on Friday, January 10th. Five research 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’s stock. According to data from MarketBeat, Revvity has an average rating of “Moderate Buy” and a consensus target price of $132.00.

Revvity Stock Up 0.2 %

RVTY stock opened at $123.02 on Friday. Revvity, Inc. has a 1-year low of $97.32 and a 1-year high of $129.50. The business’s 50 day simple moving average is $115.02 and its 200 day simple moving average is $117.95. The company has a current ratio of 3.56, a quick ratio of 2.97 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $14.97 billion, a PE ratio of 59.43, a PEG ratio of 3.68 and a beta of 1.03.

Revvity (NYSE:RVTY) last released its quarterly earnings data on Monday, November 4th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.13 by $0.15. The firm had revenue of $684.10 million for the quarter, compared to the consensus estimate of $679.66 million. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.18 earnings per share. As a group, research analysts anticipate that Revvity, Inc. will post 4.84 EPS for the current year.

Revvity announced that its Board of Directors has authorized a stock repurchase program on Monday, November 4th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to buy up to 6.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Revvity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 18th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.23%. Revvity’s dividend payout ratio (DPR) is presently 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.