Slocum Gordon & Co LLP Cuts Stock Position in Revvity, Inc. (NYSE:RVTY)

Slocum Gordon & Co LLP decreased its position in shares of Revvity, Inc. (NYSE:RVTY - Free Report) by 99.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,660 shares of the company's stock after selling 556,579 shares during the period. Slocum Gordon & Co LLP's holdings in Revvity were worth $297,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Gladius Capital Management LP bought a new stake in Revvity in the third quarter worth $32,000. Continuum Advisory LLC increased 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 buying an additional 327 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Revvity by 55.9% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock worth $43,000 after buying an additional 138 shares during the last quarter. Avior Wealth Management LLC lifted its stake in Revvity by 7,980.0% during the 3rd quarter. Avior Wealth Management LLC now owns 404 shares of the company's stock valued at $52,000 after acquiring an additional 399 shares during the period. Finally, Eastern Bank purchased a new stake in shares of Revvity during the 3rd quarter valued at about $80,000. Institutional investors own 86.65% of the company's stock.

Revvity Price Performance

Shares of NYSE RVTY traded down $2.26 during midday trading on Tuesday, reaching $112.59. 638,739 shares of the stock traded hands, compared to its average volume of 909,369. The company's 50 day moving average is $117.43 and its 200 day moving average is $119.22. Revvity, Inc. has a one year low of $97.32 and a one year high of $129.50. The stock has a market capitalization of $13.70 billion, a PE ratio of 50.93, a P/E/G ratio of 3.97 and a beta of 1.03. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.60 and a quick ratio of 3.03.

Revvity (NYSE:RVTY - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.37 by $0.05. Revvity had a net margin of 9.81% and a return on equity of 7.68%. During the same quarter in the prior year, the business posted $1.25 EPS. On average, equities research analysts anticipate that Revvity, Inc. will post 4.94 earnings per share for the current year.

Revvity announced that its board has approved a share repurchase program on Monday, November 4th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 6.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Revvity Announces Dividend

The business 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 dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date is Thursday, April 17th. Revvity's dividend payout ratio is currently 12.67%.

Insider Transactions at Revvity

In other news, insider Joel S. Goldberg sold 15,170 shares of the business's stock in a transaction 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 completion of the transaction, the insider now directly owns 33,400 shares of the company's stock, valued at approximately $4,232,782. The trade was a 31.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Tajinder S. Vohra sold 5,492 shares of the firm's stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total transaction of $641,520.52. Following the completion of the sale, the insider now 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 disclosure for this sale can be found here. Company insiders own 0.60% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RVTY. Bank of America upgraded shares of Revvity from a "neutral" rating to a "buy" rating and set a $138.00 target price on the stock in a report on Friday, December 13th. KeyCorp raised their price objective on shares of Revvity from $132.00 to $145.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Barclays raised their target price on Revvity from $135.00 to $140.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Leerink Partners lifted their price objective on Revvity from $130.00 to $135.00 and gave the company an "outperform" rating in a research report on Thursday, October 17th. Finally, Robert W. Baird raised their target price on shares of Revvity from $136.00 to $138.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 5th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Revvity presently has a consensus rating of "Moderate Buy" and an average price target of $136.25.

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.