Keene & Associates Inc. Has $522,000 Stock Position in Revvity, Inc. (NYSE:RVTY)

Keene & Associates Inc. lifted its stake in Revvity, Inc. (NYSE:RVTY) by 9.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,678 shares of the company’s stock after buying an additional 395 shares during the period. Keene & Associates Inc.’s holdings in Revvity were worth $522,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of RVTY. Gladius Capital Management LP bought a new position in Revvity in the 3rd quarter valued at $32,000. Continuum Advisory LLC grew its position in shares of Revvity by 2,972.7% during the 3rd quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock worth $43,000 after buying an additional 327 shares during the period. MassMutual Private Wealth & Trust FSB boosted its stake in Revvity by 55.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock valued at $43,000 after acquiring an additional 138 shares during the last quarter. Avior Wealth Management LLC grew its holdings in Revvity by 7,980.0% during the 3rd quarter. Avior Wealth Management LLC now owns 404 shares of the company’s stock worth $52,000 after acquiring an additional 399 shares during the period. Finally, Principal Securities Inc. lifted its stake in shares of Revvity by 54.9% in the 4th quarter. Principal Securities Inc. now owns 598 shares of the company’s stock valued at $67,000 after purchasing an additional 212 shares during the period. Institutional investors own 86.65% of the company’s stock.

Insider Activity at Revvity

In related news, insider Tajinder S. Vohra sold 5,492 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $116.81, for a total transaction of $641,520.52. Following the sale, the insider now owns 19,652 shares in the company, valued at approximately $2,295,550.12. This represents a 21.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Joel S. Goldberg sold 15,170 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $4,232,782. This trade represents a 31.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is owned by insiders.

Revvity Stock Performance

RVTY opened at $111.57 on Wednesday. The company has a market capitalization of $13.58 billion, a price-to-earnings ratio of 50.48, a P/E/G ratio of 3.74 and a beta of 1.03. The business’s 50-day moving average price is $116.99 and its two-hundred day moving average price is $118.81. Revvity, Inc. has a 1 year low of $97.32 and a 1 year high of $129.50. 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 (NYSE:RVTY) last announced its earnings results on Friday, January 31st. The company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.05. Revvity had a return on equity of 7.68% and a net margin of 9.81%. During the same period last year, the firm posted $1.25 EPS. Equities analysts expect that Revvity, Inc. will post 4.94 EPS for the current fiscal year.

Revvity announced that its board has approved a stock repurchase plan on Monday, November 4th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 6.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Revvity Dividend Announcement

The firm also recently announced 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 0.25%. The ex-dividend date is Thursday, April 17th. Revvity’s payout ratio is 12.67%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Robert W. Baird raised their target price on Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. TD Cowen lifted their price objective on shares of Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Barclays boosted their price objective on shares of Revvity from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Bank of America raised shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price target on the stock in a research report on Friday, December 13th. Finally, KeyCorp upped their price objective on shares of Revvity from $132.00 to $145.00 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $136.25.

Revvity Company 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.