Revvity, Inc. (NYSE:RVTY) Shares Sold by Everence Capital Management Inc.

Everence Capital Management Inc. lessened its stake in Revvity, Inc. (NYSE:RVTY - Free Report) by 61.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,550 shares of the company's stock after selling 5,620 shares during the period. Everence Capital Management Inc.'s holdings in Revvity were worth $396,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Gladius Capital Management LP acquired a new stake in Revvity in the third quarter valued at about $32,000. EverSource Wealth Advisors LLC raised its stake in shares of Revvity by 74.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company's stock worth $41,000 after buying an additional 167 shares in the last quarter. Fairfield Financial Advisors LTD acquired a new stake in shares of Revvity in the 2nd quarter valued at approximately $43,000. Continuum Advisory LLC boosted its stake in shares of 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 buying an additional 327 shares in the last quarter. Finally, Avior Wealth Management LLC grew its holdings 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 acquiring an additional 399 shares during the period. 86.65% of the stock is owned by hedge funds and other institutional investors.

Revvity Price Performance

Shares of NYSE RVTY traded up $1.83 during trading on Monday, reaching $115.43. The company had a trading volume of 766,072 shares, compared to its average volume of 654,624. The company has a current ratio of 3.56, a quick ratio of 2.97 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 stock has a 50-day moving average price of $115.71 and a two-hundred day moving average price of $116.75. The stock has a market capitalization of $14.05 billion, a PE ratio of 55.76, a price-to-earnings-growth ratio of 3.59 and a beta of 1.03.

Revvity (NYSE:RVTY - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.15. The firm had revenue of $684.10 million during the quarter, compared to the consensus estimate of $679.66 million. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The firm's revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.18 EPS. As a group, sell-side analysts predict that Revvity, Inc. will post 4.85 earnings per share for the current year.

Revvity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be issued a $0.07 dividend. The ex-dividend date is Friday, January 17th. This represents a $0.28 annualized dividend and a yield of 0.24%. Revvity's dividend payout ratio (DPR) is presently 13.53%.

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

Analysts Set New Price Targets

A number of research firms have commented on RVTY. Robert W. Baird raised their target price on Revvity from $136.00 to $138.00 and gave the company an "outperform" rating in a report on Tuesday, November 5th. TD Cowen raised their price objective on shares of Revvity from $141.00 to $144.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Bank of America raised shares of Revvity from a "neutral" rating to a "buy" rating and set a $138.00 price objective on the stock in a report on Friday, December 13th. Barclays dropped their target price on shares of Revvity from $140.00 to $135.00 and set an "overweight" rating for the company in a report on Monday, November 25th. Finally, Sanford C. Bernstein decreased their price target on Revvity from $150.00 to $145.00 and set an "outperform" rating on the stock in a research note on Tuesday, November 5th. Five investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $133.00.

Insiders Place Their Bets

In other Revvity news, insider Tajinder S. Vohra sold 2,154 shares of Revvity stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $121.73, for a total value of $262,206.42. Following the completion of the sale, the insider now owns 19,652 shares in the company, valued at $2,392,237.96. The trade was a 9.88 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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.