Oak Thistle LLC Purchases Shares of 2,842 Revvity, Inc. (NYSE:RVTY)

Oak Thistle LLC bought a new stake in shares of Revvity, Inc. (NYSE:RVTY - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,842 shares of the company's stock, valued at approximately $317,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Gladius Capital Management LP bought a new stake in shares of Revvity in the 3rd quarter valued at approximately $32,000. EverSource Wealth Advisors LLC lifted its holdings in Revvity by 74.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company's stock worth $41,000 after purchasing an additional 167 shares during the last quarter. Continuum Advisory LLC lifted its holdings in Revvity by 2,972.7% in the 3rd quarter. Continuum Advisory LLC now owns 338 shares of the company's stock worth $43,000 after purchasing an additional 327 shares during the last quarter. Avior Wealth Management LLC lifted its holdings in Revvity by 7,980.0% in the 3rd quarter. Avior Wealth Management LLC now owns 404 shares of the company's stock worth $52,000 after purchasing an additional 399 shares during the last quarter. Finally, Eastern Bank acquired a new stake in Revvity in the 3rd quarter worth approximately $80,000. Hedge funds and other institutional investors own 86.65% of the company's stock.

Revvity Price Performance

Shares of RVTY stock traded down $1.24 during trading hours on Friday, hitting $118.29. 659,448 shares of the company's stock were exchanged, compared to its average volume of 608,055. The stock's 50-day moving average is $114.94 and its 200-day moving average is $117.45. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.56 and a quick ratio of 2.97. The stock has a market cap of $14.40 billion, a price-to-earnings ratio of 57.15, a price-to-earnings-growth ratio of 3.37 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 announced its earnings results on Monday, November 4th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.13 by $0.15. Revvity had a return on equity of 7.42% and a net margin of 9.34%. The company had revenue of $684.10 million for the quarter, compared to analysts' expectations of $679.66 million. During the same quarter in the prior year, the business earned $1.18 earnings per share. The business's revenue for the quarter was up 2.1% on a year-over-year basis. As a group, research analysts forecast that Revvity, Inc. will post 4.84 EPS for the current year.

Revvity Announces Dividend

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

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on RVTY shares. Sanford C. Bernstein lowered Revvity from an "outperform" rating to a "market perform" rating and set a $130.00 target price for the company. in a report on Friday, January 10th. Leerink Partners upped their price target on Revvity from $130.00 to $135.00 and gave the stock an "outperform" rating in a report on Thursday, October 17th. Robert W. Baird upped their price target on Revvity from $136.00 to $138.00 and gave the stock an "outperform" rating in a report on Tuesday, November 5th. Bank of America upgraded 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. Finally, TD Cowen upped their price target on Revvity from $141.00 to $144.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $132.46.

Insider Buying and Selling at Revvity

In other news, insider Tajinder S. Vohra sold 5,492 shares of the firm's 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 owns 19,652 shares of the company's stock, valued at $2,295,550.12. This trade represents a 21.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.60% of the company's stock.

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.