Legacy Capital Wealth Partners LLC Acquires Shares of 1,644 Revvity, Inc. (NYSE:RVTY)

Legacy Capital Wealth Partners LLC acquired a new stake in Revvity, Inc. (NYSE:RVTY) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,644 shares of the company’s stock, valued at approximately $210,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RVTY. Rothschild Investment LLC acquired a new stake in Revvity in the second quarter worth $25,000. EverSource Wealth Advisors LLC raised its holdings in Revvity by 74.2% in the second quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company’s stock worth $41,000 after purchasing an additional 167 shares during the period. Family Firm Inc. acquired a new stake in Revvity in the second quarter worth $43,000. Fairfield Financial Advisors LTD acquired a new stake in Revvity in the second quarter worth $43,000. Finally, EntryPoint Capital LLC acquired a new stake in Revvity in the first quarter worth $48,000. 86.65% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Barclays upgraded shares of Revvity from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $125.00 to $140.00 in a report on Tuesday, October 15th. Jefferies Financial Group raised their price objective on shares of Revvity from $115.00 to $125.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Citigroup raised their price objective on shares of Revvity from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Leerink Partners raised their price objective on shares of Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Wells Fargo & Company initiated coverage on shares of Revvity in a report on Tuesday, August 27th. They set an “equal weight” rating and a $130.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Revvity currently has an average rating of “Moderate Buy” and an average price target of $132.07.

Revvity Stock Performance

NYSE RVTY opened at $120.64 on Tuesday. The company has a quick ratio of 1.98, a current ratio of 3.56 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $14.68 billion, a P/E ratio of 58.28, a P/E/G ratio of 3.06 and a beta of 1.05. Revvity, Inc. has a 12-month low of $82.75 and a 12-month high of $129.50. The firm has a 50-day moving average price of $121.64 and a two-hundred day moving average price of $114.92.

Revvity (NYSE:RVTY) last released its quarterly earnings data on Monday, November 4th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.15. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The business had revenue of $684.10 million during the quarter, compared to analysts’ expectations of $679.66 million. During the same period in the prior year, the company earned $1.18 EPS. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. Analysts anticipate that Revvity, Inc. will post 4.85 earnings per share for the current year.

Revvity Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.23%. The ex-dividend date is Friday, January 17th. Revvity’s dividend payout ratio is presently 13.53%.

Revvity announced that its Board of Directors has authorized a share repurchase 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 shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Revvity news, insider Tajinder S. Vohra sold 2,154 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total transaction of $262,206.42. Following the transaction, the insider now owns 19,652 shares in the company, valued at approximately $2,392,237.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Tajinder S. Vohra sold 2,154 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total transaction of $262,206.42. Following the completion of the sale, the insider now owns 19,652 shares in the company, valued at approximately $2,392,237.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Tajinder S. Vohra sold 2,153 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $122.09, for a total transaction of $262,859.77. Following the sale, the insider now owns 23,960 shares of the company’s stock, valued at $2,925,276.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is owned by insiders.

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.