Rhumbline Advisers Reduces Stock Position in Revvity, Inc. (NYSE:RVTY)

Rhumbline Advisers trimmed its holdings in Revvity, Inc. (NYSE:RVTY - Free Report) by 1.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 203,524 shares of the company's stock after selling 2,549 shares during the quarter. Rhumbline Advisers owned about 0.17% of Revvity worth $22,715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Empirical Finance LLC lifted its stake in shares of Revvity by 2.0% in the 3rd quarter. Empirical Finance LLC now owns 4,237 shares of the company's stock valued at $541,000 after purchasing an additional 85 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Revvity by 2.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,214 shares of the company's stock valued at $470,000 after purchasing an additional 100 shares during the period. HB Wealth Management LLC lifted its stake in shares of Revvity by 4.6% in the 4th quarter. HB Wealth Management LLC now owns 2,380 shares of the company's stock valued at $266,000 after purchasing an additional 104 shares during the period. Westside Investment Management Inc. lifted its stake in shares of Revvity by 0.8% in the 4th quarter. Westside Investment Management Inc. now owns 14,363 shares of the company's stock valued at $1,603,000 after purchasing an additional 108 shares during the period. Finally, Coldstream Capital Management Inc. lifted its stake in shares of Revvity by 5.1% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,247 shares of the company's stock valued at $286,000 after purchasing an additional 110 shares during the period. 86.65% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Revvity

In related news, insider Joel S. Goldberg sold 15,170 shares of the company's stock in a transaction that occurred on 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 transaction, the insider now owns 33,400 shares in the company, valued at approximately $4,232,782. This represents a 31.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tajinder S. Vohra sold 5,492 shares of the company's stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total value 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. The trade was a 21.84 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.60% of the company's stock.

Revvity Stock Down 0.9 %

RVTY traded down $1.00 during midday trading on Friday, reaching $113.72. 658,369 shares of the company were exchanged, compared to its average volume of 922,937. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.03 and a current ratio of 3.60. The company's fifty day moving average price is $116.80 and its 200 day moving average price is $118.68. The company has a market cap of $13.84 billion, a price-to-earnings ratio of 51.46, a price-to-earnings-growth ratio of 3.83 and a beta of 1.03. Revvity, Inc. has a one year low of $97.32 and a one year high of $129.50.

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

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

Revvity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.25%. Revvity's payout ratio is presently 12.67%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on RVTY shares. Bank of America raised Revvity from a "neutral" rating to a "buy" rating and set a $138.00 price objective on the stock in a research note on Friday, December 13th. 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 research report on Friday, January 10th. Barclays boosted their target price on Revvity from $135.00 to $140.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. TD Cowen boosted their target price on Revvity from $141.00 to $144.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Finally, KeyCorp boosted their target price on Revvity from $132.00 to $145.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Revvity currently has a consensus rating of "Moderate Buy" and an average target price of $136.25.

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.