Revvity, Inc. (NYSE:RVTY) Shares Purchased by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. boosted its position in shares of Revvity, Inc. (NYSE:RVTY - Free Report) by 1,715.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,186 shares of the company's stock after buying an additional 65,376 shares during the period. Contravisory Investment Management Inc. owned 0.06% of Revvity worth $7,722,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of research firms recently weighed in on RVTY. Raymond James lifted their price objective on shares of Revvity from $144.00 to $146.00 and gave the company an "outperform" rating in a research report on Tuesday, November 5th. Sanford C. Bernstein downgraded shares of Revvity from an "outperform" rating to a "market perform" rating and set a $130.00 target price on the stock. in a report on Friday, January 10th. Barclays dropped their price target on shares of Revvity from $140.00 to $135.00 and set an "overweight" rating on the stock in a research note on Monday, November 25th. Robert W. Baird raised their price objective on shares of Revvity from $136.00 to $138.00 and gave the company an "outperform" rating in a research report on Tuesday, November 5th. Finally, Leerink Partners lifted 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. Six 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 company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $131.93.

Revvity Price Performance

RVTY traded up $0.54 during trading on Thursday, reaching $119.49. 666,886 shares of the stock were exchanged, compared to its average volume of 732,029. 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 company has a market capitalization of $14.54 billion, a price-to-earnings ratio of 57.73, a P/E/G ratio of 3.37 and a beta of 1.03. Revvity, Inc. has a 1 year low of $97.32 and a 1 year high of $129.50. The business's 50 day moving average price is $115.11 and its two-hundred day moving average price is $117.32.

Revvity (NYSE:RVTY - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.13 by $0.15. The business had revenue of $684.10 million for the quarter, compared to analyst estimates of $679.66 million. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The business's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.18 EPS. As a group, equities research analysts anticipate that Revvity, Inc. will post 4.84 earnings per share for the current year.

Revvity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be given a $0.07 dividend. The ex-dividend date is Friday, January 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.23%. Revvity's dividend payout ratio is presently 13.53%.

Revvity declared that its Board of Directors has authorized a stock repurchase plan on Monday, November 4th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to buy up to 6.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its stock is undervalued.

Insider Transactions at Revvity

In other news, insider Tajinder S. Vohra sold 5,492 shares of the company's 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 sale, the insider now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.60% of the company's stock.

About Revvity

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.