Legacy Capital Group California Inc. Makes New Investment in Revvity, Inc. (NYSE:RVTY)

Legacy Capital Group California Inc. purchased a new position in shares of Revvity, Inc. (NYSE:RVTY - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,927 shares of the company's stock, valued at approximately $550,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RVTY. Handelsbanken Fonder AB boosted its stake in shares of Revvity by 4.9% in the 4th quarter. Handelsbanken Fonder AB now owns 33,960 shares of the company's stock valued at $3,790,000 after purchasing an additional 1,600 shares in the last quarter. Ieq Capital LLC purchased a new stake in Revvity during the fourth quarter valued at about $223,000. Private Advisor Group LLC grew its stake in shares of Revvity by 5.3% during the fourth quarter. Private Advisor Group LLC now owns 4,254 shares of the company's stock valued at $475,000 after buying an additional 213 shares during the last quarter. Keene & Associates Inc. increased its holdings in shares of Revvity by 9.2% in the fourth quarter. Keene & Associates Inc. now owns 4,678 shares of the company's stock worth $522,000 after buying an additional 395 shares during the period. Finally, Timber Creek Capital Management LLC increased its holdings in shares of Revvity by 1.9% in the fourth quarter. Timber Creek Capital Management LLC now owns 33,417 shares of the company's stock worth $3,730,000 after buying an additional 622 shares during the period. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RVTY has been the topic of several recent research reports. Sanford C. Bernstein lowered Revvity from an "outperform" rating to a "market perform" rating and set a $130.00 price target on the stock. in a research report on Friday, January 10th. Raymond James restated an "outperform" rating and issued a $145.00 target price (up previously from $140.00) on shares of Revvity in a report on Monday, February 3rd. Bank of America upgraded shares of Revvity from a "neutral" rating to a "buy" rating and set a $138.00 price target for the company in a report on Friday, December 13th. TD Cowen raised their price target on shares of Revvity from $141.00 to $144.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Finally, Robert W. Baird upped their price objective on shares of Revvity from $136.00 to $138.00 and gave the company an "outperform" rating in a research note on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $136.25.

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Insider Buying and Selling

In related news, insider Tajinder S. Vohra sold 5,492 shares of the firm's stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $116.81, for a total transaction of $641,520.52. Following the completion of the transaction, the insider now owns 19,652 shares of the company's stock, valued at $2,295,550.12. This trade represents a 21.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joel S. Goldberg sold 15,170 shares of Revvity stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $126.73, for a total value of $1,922,494.10. Following the transaction, the insider now owns 33,400 shares of the company's stock, valued at $4,232,782. The trade was a 31.23 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by insiders.

Revvity Stock Up 0.7 %

RVTY traded up $0.80 on Tuesday, hitting $115.71. The company had a trading volume of 591,655 shares, compared to its average volume of 912,929. Revvity, Inc. has a 52-week low of $97.32 and a 52-week high of $129.50. The stock has a fifty day simple moving average of $116.76 and a 200-day simple moving average of $118.61. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.60 and a quick ratio of 3.03. The firm has a market capitalization of $14.08 billion, a P/E ratio of 52.36, a P/E/G ratio of 3.82 and a beta of 1.03.

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

Revvity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 18th will be given 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 0.24%. Revvity's dividend payout ratio (DPR) is currently 12.67%.

Revvity declared that its board has initiated a stock repurchase program on Monday, November 4th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 6.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's board of directors believes its shares are undervalued.

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.