Raymond James Financial Inc. Buys Shares of 20,138 Revvity, Inc. (NYSE:RVTY)

Raymond James Financial Inc. purchased a new stake in Revvity, Inc. (NYSE:RVTY - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 20,138 shares of the company's stock, valued at approximately $2,248,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. boosted its position in shares of Revvity by 17.4% during the 4th quarter. Victory Capital Management Inc. now owns 70,250 shares of the company's stock worth $7,841,000 after purchasing an additional 10,390 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Revvity by 13.7% in the third quarter. JPMorgan Chase & Co. now owns 344,115 shares of the company's stock worth $43,961,000 after acquiring an additional 41,497 shares in the last quarter. Contravisory Investment Management Inc. boosted 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 acquiring an additional 65,376 shares in the last quarter. FMR LLC increased its holdings in shares of 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, Janney Montgomery Scott LLC raised its position in shares of Revvity by 87.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 7,891 shares of the company's stock worth $881,000 after purchasing an additional 3,672 shares during the period. 86.65% of the stock is currently owned by institutional investors.

Remove Ads

Analysts Set New Price Targets

Several analysts recently issued reports on RVTY shares. Barclays lifted their price target 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. KeyCorp lifted their price objective on shares of Revvity from $132.00 to $145.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Raymond James reissued an "outperform" rating and set a $145.00 target price (up from $140.00) on shares of Revvity in a research report on Monday, February 3rd. Sanford C. Bernstein downgraded Revvity from an "outperform" rating to a "market perform" rating and set a $130.00 price target for the company. in a research note on Friday, January 10th. Finally, Bank of America raised Revvity from a "neutral" rating to a "buy" rating and set a $138.00 price objective for the company in a report on Friday, December 13th. Four research 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 stock. Based on data from MarketBeat, Revvity presently has an average rating of "Moderate Buy" and a consensus target price of $136.25.

Revvity Stock Performance

Shares of RVTY stock traded down $5.96 during trading on Thursday, hitting $100.76. The company's stock had a trading volume of 929,332 shares, compared to its average volume of 877,584. 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 company has a market cap of $12.11 billion, a PE ratio of 45.59, a P/E/G ratio of 3.82 and a beta of 1.06. The business has a fifty day moving average of $113.75 and a 200-day moving average of $116.73. 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 quarterly earnings data on Friday, January 31st. The company reported $1.42 earnings per share (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 in the prior year, the firm posted $1.25 earnings per share. As a group, research analysts anticipate that Revvity, Inc. will post 4.94 earnings per share for the current year.

Revvity Announces Dividend

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

Insider Buying and Selling at Revvity

In other news, 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 transaction of $641,520.52. Following the completion of the transaction, the insider now owns 19,652 shares in the company, valued at approximately $2,295,550.12. This represents a 21.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joel S. Goldberg sold 15,170 shares of Revvity stock in a transaction dated 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 completion of the sale, the insider now directly owns 33,400 shares of the company's stock, valued at approximately $4,232,782. This trade represents a 31.23 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company's stock.

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.