Exchange Traded Concepts LLC Sells 3,502 Shares of Revvity, Inc. (NYSE:RVTY)

Exchange Traded Concepts LLC trimmed its stake in Revvity, Inc. (NYSE:RVTY - Free Report) by 38.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,586 shares of the company's stock after selling 3,502 shares during the quarter. Exchange Traded Concepts LLC's holdings in Revvity were worth $623,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its position in Revvity by 13.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 344,115 shares of the company's stock worth $43,961,000 after purchasing an additional 41,497 shares during the last quarter. Contravisory Investment Management Inc. increased its holdings in Revvity by 1,715.9% in the fourth quarter. Contravisory Investment Management Inc. now owns 69,186 shares of the company's stock worth $7,722,000 after buying an additional 65,376 shares during the last quarter. Bretton Capital Management LLC acquired a new position in Revvity in the third quarter worth approximately $1,405,000. FMR LLC raised its position in Revvity by 40.8% during the third quarter. FMR LLC now owns 155,556 shares of the company's stock valued at $19,872,000 after acquiring an additional 45,040 shares in the last quarter. Finally, Gateway Investment Advisers LLC lifted its stake in Revvity by 942.5% in the third quarter. Gateway Investment Advisers LLC now owns 38,081 shares of the company's stock valued at $4,865,000 after acquiring an additional 34,428 shares during the last quarter. Institutional investors and hedge funds own 86.65% of the company's stock.

Revvity Stock Performance

RVTY traded down $2.46 on Monday, hitting $123.67. 521,455 shares of the stock traded hands, compared to its average volume of 887,950. The business has a fifty day moving average price of $116.88 and a two-hundred day moving average price of $118.80. The company has a current ratio of 3.60, a quick ratio of 3.03 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $15.05 billion, a PE ratio of 56.07, a P/E/G ratio of 4.17 and a beta of 1.03. Revvity, Inc. has a 52 week low of $97.32 and a 52 week high of $129.50.

Revvity (NYSE:RVTY - Get Free Report) last issued its earnings results on Friday, January 31st. The company reported $1.42 EPS for the quarter, beating analysts' consensus estimates 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 last year, the business earned $1.25 earnings per share. On average, research analysts predict that Revvity, Inc. will post 4.97 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 given 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 0.23%. Revvity's dividend payout ratio (DPR) is currently 12.67%.

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

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. 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. Raymond James restated an "outperform" rating and set a $145.00 target price (up from $140.00) on shares of Revvity in a report on Monday. Leerink Partners increased their price objective on Revvity from $130.00 to $135.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. 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, Sanford C. Bernstein downgraded Revvity from an "outperform" rating to a "market perform" rating and set a $130.00 price target on the stock. in a report on Friday, January 10th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $136.25.

Insider Activity at Revvity

In other Revvity news, insider Joel S. Goldberg sold 15,170 shares of the company's stock in a transaction 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 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Tajinder S. Vohra sold 5,492 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $116.81, for a total value of $641,520.52. Following the transaction, the insider now owns 19,652 shares of the company's stock, valued at $2,295,550.12. This represents a 21.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by insiders.

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.