Pflug Koory LLC Decreases Position in Revvity, Inc. (NYSE:RVTY)

Pflug Koory LLC decreased its position in shares of Revvity, Inc. (NYSE:RVTY) by 3.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,125 shares of the company’s stock after selling 265 shares during the quarter. Pflug Koory LLC’s holdings in Revvity were worth $795,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Gladius Capital Management LP purchased a new position in shares of Revvity during the third quarter valued at approximately $32,000. EverSource Wealth Advisors LLC raised its stake in Revvity by 74.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company’s stock valued at $41,000 after buying an additional 167 shares during the last quarter. Continuum Advisory LLC lifted its holdings in shares of Revvity by 2,972.7% during the 3rd quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock valued at $43,000 after buying an additional 327 shares during the period. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Revvity by 55.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock worth $43,000 after acquiring an additional 138 shares during the period. Finally, Avior Wealth Management LLC increased its position in Revvity by 7,980.0% during the third quarter. Avior Wealth Management LLC now owns 404 shares of the company’s stock valued at $52,000 after acquiring an additional 399 shares during the last quarter. Institutional investors own 86.65% of the company’s stock.

Insiders Place Their Bets

In other news, insider Tajinder S. Vohra sold 5,492 shares of the company’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 sale, the insider now directly owns 19,652 shares of the company’s stock, valued at $2,295,550.12. This represents a 21.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Raymond James reduced their price target on shares of Revvity from $146.00 to $140.00 and set an “outperform” rating for the company in a research report on Tuesday. Robert W. Baird upped their target price on shares of Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Leerink Partners lifted their price target on shares of Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Sanford C. Bernstein lowered Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price objective for the company. in a research note on Friday, January 10th. Finally, Barclays lowered their target price on Revvity from $140.00 to $135.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $132.00.

Revvity Stock Performance

NYSE RVTY opened at $123.27 on Friday. The company has a quick ratio of 2.97, a current ratio of 3.56 and a debt-to-equity ratio of 0.40. Revvity, Inc. has a twelve month low of $97.32 and a twelve month high of $129.50. The business has a 50-day moving average price of $115.16 and a 200-day moving average price of $117.98. The firm has a market cap of $15.00 billion, a price-to-earnings ratio of 59.55, a price-to-earnings-growth ratio of 3.67 and a beta of 1.03.

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

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

Revvity Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 18th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.23%. Revvity’s dividend payout ratio is currently 13.53%.

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.