Janney Montgomery Scott LLC Purchases 3,672 Shares of Revvity, Inc. (NYSE:RVTY)

Janney Montgomery Scott LLC lifted its stake in shares of Revvity, Inc. (NYSE:RVTY - Free Report) by 87.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,891 shares of the company's stock after buying an additional 3,672 shares during the quarter. Janney Montgomery Scott LLC's holdings in Revvity were worth $881,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Gladius Capital Management LP purchased a new stake in Revvity in the third quarter worth about $32,000. Continuum Advisory LLC boosted its holdings in Revvity by 2,972.7% in the third quarter. Continuum Advisory LLC now owns 338 shares of the company's stock worth $43,000 after acquiring an additional 327 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in Revvity by 55.9% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock valued at $43,000 after purchasing an additional 138 shares during the last quarter. Avior Wealth Management LLC increased its stake in Revvity by 7,980.0% during the 3rd quarter. Avior Wealth Management LLC now owns 404 shares of the company's stock valued at $52,000 after purchasing an additional 399 shares in the last quarter. Finally, Eastern Bank purchased a new stake in shares of Revvity during the third quarter valued at approximately $80,000. 86.65% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RVTY has been the subject of several recent analyst reports. Raymond James restated an "outperform" rating and issued a $145.00 price target (up previously from $140.00) on shares of Revvity in a research note on Monday, February 3rd. Barclays increased their price objective on shares of Revvity from $135.00 to $140.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Bank of America raised shares of Revvity from a "neutral" rating to a "buy" rating and set a $138.00 target price for the company in a research report on Friday, December 13th. Leerink Partners raised their price target on Revvity from $130.00 to $135.00 and gave the stock an "outperform" rating in a research note on Thursday, October 17th. Finally, KeyCorp upped their price objective on Revvity from $132.00 to $145.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $136.25.

Revvity Price Performance

Shares of NYSE RVTY traded down $4.04 during midday trading on Monday, reaching $114.83. The stock had a trading volume of 1,394,172 shares, compared to its average volume of 923,926. The company has a market capitalization of $13.97 billion, a price-to-earnings ratio of 51.96, a price-to-earnings-growth ratio of 3.97 and a beta of 1.03. Revvity, Inc. has a 12-month low of $97.32 and a 12-month high of $129.50. The stock has a 50-day moving average of $117.46 and a 200-day moving average of $119.20. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.03 and a current ratio of 3.60.

Revvity (NYSE:RVTY - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The company reported $1.42 earnings per share (EPS) for the quarter, topping 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 firm posted $1.25 earnings per share. As a group, research analysts anticipate that Revvity, Inc. will post 4.94 EPS for the current fiscal year.

Revvity Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 18th will be paid a $0.07 dividend. The ex-dividend date is Thursday, April 17th. This represents a $0.28 annualized dividend and a yield of 0.24%. Revvity's payout ratio is 12.67%.

Revvity declared that its Board of Directors has approved a share buyback plan on Monday, November 4th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to buy up to 6.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Joel S. Goldberg sold 15,170 shares of the firm's stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $126.73, for a total transaction of $1,922,494.10. Following the completion of the transaction, the insider now owns 33,400 shares in the company, valued at $4,232,782. This trade represents a 31.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Tajinder S. Vohra sold 5,492 shares of the business's stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $116.81, for a total value of $641,520.52. Following the completion of the sale, the insider now owns 19,652 shares in the company, 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 corporate 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.