abrdn plc Decreases Position in Revvity, Inc. (NYSE:RVTY)

abrdn plc lowered its position in Revvity, Inc. (NYSE:RVTY - Free Report) by 8.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,849 shares of the company's stock after selling 3,995 shares during the period. abrdn plc's holdings in Revvity were worth $4,888,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Empirical Finance LLC grew its holdings in Revvity by 2.0% during the third quarter. Empirical Finance LLC now owns 4,237 shares of the company's stock valued at $541,000 after purchasing an additional 85 shares during the period. CX Institutional lifted its position in shares of Revvity by 1.1% in the third quarter. CX Institutional now owns 7,984 shares of the company's stock valued at $1,020,000 after acquiring an additional 86 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Revvity by 2.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,214 shares of the company's stock valued at $470,000 after acquiring an additional 100 shares in the last quarter. HB Wealth Management LLC lifted its position in shares of Revvity by 4.6% in the fourth quarter. HB Wealth Management LLC now owns 2,380 shares of the company's stock valued at $266,000 after acquiring an additional 104 shares in the last quarter. Finally, Westside Investment Management Inc. lifted its position in shares of Revvity by 0.8% in the fourth quarter. Westside Investment Management Inc. now owns 14,363 shares of the company's stock valued at $1,603,000 after acquiring an additional 108 shares in the last quarter. Institutional investors own 86.65% of the company's stock.

Insiders Place Their Bets

In other Revvity news, insider Tajinder S. Vohra sold 5,492 shares of the 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 directly 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joel S. Goldberg sold 15,170 shares of the stock in a transaction dated 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 directly 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. 0.60% of the stock is owned by company insiders.

Revvity Trading Up 1.4 %

Shares of RVTY traded up $1.58 during mid-day trading on Thursday, reaching $112.85. 770,070 shares of the company's stock traded hands, compared to its average volume of 926,802. The stock has a market cap of $13.73 billion, a P/E ratio of 51.06, a P/E/G ratio of 3.97 and a beta of 1.03. The stock's 50-day moving average is $117.28 and its two-hundred day moving average is $119.14. Revvity, Inc. has a 12 month low of $97.32 and a 12 month 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 - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate 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 in the previous year, the company earned $1.25 EPS. Research analysts forecast that Revvity, Inc. will post 4.94 earnings per share for the current fiscal year.

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

Revvity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 18th will be issued a dividend of $0.07 per share. 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 0.25%. Revvity's dividend payout ratio is currently 12.67%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on RVTY shares. Leerink Partners boosted their price objective on Revvity from $130.00 to $135.00 and gave the company an "outperform" rating in a research report on Thursday, October 17th. Raymond James reiterated an "outperform" rating and issued a $145.00 target price (up from $140.00) on shares of Revvity in a research report on Monday, February 3rd. TD Cowen boosted their target price on Revvity from $141.00 to $144.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. Barclays boosted their target price on Revvity from $135.00 to $140.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Finally, Bank of America upgraded Revvity from a "neutral" rating to a "buy" rating and set a $138.00 target price on the stock in a research report on Friday, December 13th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $136.25.

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.