Revvity, Inc. (NYSE:RVTY) Shares Sold by Amalgamated Bank

Amalgamated Bank reduced its holdings in Revvity, Inc. (NYSE:RVTY) by 2.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 23,550 shares of the company’s stock after selling 669 shares during the quarter. Amalgamated Bank’s holdings in Revvity were worth $2,628,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Gladius Capital Management LP acquired a new position in shares of Revvity during the 3rd quarter valued at about $32,000. Continuum Advisory LLC grew its holdings in Revvity by 2,972.7% in the third quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock valued at $43,000 after purchasing an additional 327 shares during the period. MassMutual Private Wealth & Trust FSB increased its position in Revvity by 55.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock worth $43,000 after purchasing an additional 138 shares during the last quarter. Avior Wealth Management LLC raised its stake in Revvity by 7,980.0% during the third quarter. Avior Wealth Management LLC now owns 404 shares of the company’s stock worth $52,000 after purchasing an additional 399 shares during the period. Finally, Principal Securities Inc. raised its stake in Revvity by 54.9% during the fourth quarter. Principal Securities Inc. now owns 598 shares of the company’s stock worth $67,000 after purchasing an additional 212 shares during the period. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Barclays boosted their price objective on shares of Revvity from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Raymond James reissued an “outperform” rating and set a $145.00 price target (up previously from $140.00) on shares of Revvity in a research report on Monday, February 3rd. Sanford C. Bernstein downgraded Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price objective on the stock. in a report on Friday, January 10th. Bank of America upgraded Revvity from a “neutral” rating to a “buy” rating and set a $138.00 target price for the company in a report on Friday, December 13th. Finally, KeyCorp raised their price target on shares of Revvity from $132.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $136.25.

Revvity Stock Up 1.7 %

NYSE RVTY opened at $112.28 on Friday. The company has a quick ratio of 3.03, a current ratio of 3.60 and a debt-to-equity ratio of 0.41. Revvity, Inc. has a fifty-two week low of $97.32 and a fifty-two week high of $129.50. The business has a 50 day moving average price of $116.88 and a two-hundred day moving average price of $118.47. The stock has a market cap of $13.66 billion, a PE ratio of 50.81, a P/E/G ratio of 3.82 and a beta of 1.03.

Revvity (NYSE:RVTY) last announced its earnings results on Friday, January 31st. The company reported $1.42 earnings per share 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 predict that Revvity, Inc. will post 4.94 EPS for the current fiscal year.

Revvity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 18th will be paid a dividend of $0.07 per share. The ex-dividend date is Thursday, April 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.25%. Revvity’s dividend payout ratio is presently 12.67%.

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

Insider Transactions at Revvity

In other Revvity news, insider Tajinder S. Vohra sold 5,492 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $2,295,550.12. This trade represents a 21.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joel S. Goldberg sold 15,170 shares of Revvity stock in a transaction that occurred on 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 sale, the insider now owns 33,400 shares in the company, valued at $4,232,782. This represents a 31.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

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.