SG Americas Securities LLC Sells 9,446 Shares of Revvity, Inc. (NYSE:RVTY)

SG Americas Securities LLC reduced its position in Revvity, Inc. (NYSE:RVTY - Free Report) by 18.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,568 shares of the company's stock after selling 9,446 shares during the quarter. SG Americas Securities LLC's holdings in Revvity were worth $4,528,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in shares of 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 buying an additional 41,497 shares in the last quarter. Contravisory Investment Management Inc. increased its holdings in Revvity by 1,715.9% during the 4th quarter. Contravisory Investment Management Inc. now owns 69,186 shares of the company's stock valued at $7,722,000 after purchasing an additional 65,376 shares during the period. Bretton Capital Management LLC bought a new position in Revvity in the 3rd quarter worth $1,405,000. FMR LLC lifted its stake in shares of Revvity by 40.8% in the 3rd quarter. FMR LLC now owns 155,556 shares of the company's stock valued at $19,872,000 after purchasing an additional 45,040 shares during the period. Finally, Gateway Investment Advisers LLC grew its position in shares of Revvity by 942.5% in the 3rd quarter. Gateway Investment Advisers LLC now owns 38,081 shares of the company's stock worth $4,865,000 after buying an additional 34,428 shares during the period. 86.65% of the stock is currently owned by institutional investors.

Revvity Stock Performance

Shares of NYSE RVTY traded up $0.24 during trading hours on Friday, reaching $123.27. The stock had a trading volume of 726,351 shares, compared to its average volume of 587,330. The firm has a market cap of $15.00 billion, a price-to-earnings ratio of 59.55, a PEG ratio of 3.67 and a beta of 1.03. Revvity, Inc. has a fifty-two week low of $97.32 and a fifty-two week high of $129.50. The firm has a 50-day moving average of $115.44 and a 200-day moving average of $118.11. The company has a current ratio of 3.56, a quick ratio of 2.97 and a debt-to-equity ratio of 0.40.

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

Revvity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 18th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.23%. The ex-dividend date of this dividend is Thursday, April 17th. Revvity's payout ratio is 13.53%.

Revvity announced that its Board of Directors has initiated a share buyback program on Monday, November 4th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to repurchase up to 6.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on RVTY shares. Leerink Partners lifted their target price on shares of Revvity from $130.00 to $135.00 and gave the stock an "outperform" rating in a report on Thursday, October 17th. Barclays decreased their price objective on shares of Revvity from $140.00 to $135.00 and set an "overweight" rating for the company in a report on Monday, November 25th. Bank of America raised Revvity from a "neutral" rating to a "buy" rating and set a $138.00 target price for the company in a report on Friday, December 13th. Raymond James lowered their price target on Revvity from $146.00 to $140.00 and set an "outperform" rating on the stock in a report on Tuesday. Finally, Sanford C. Bernstein downgraded Revvity from an "outperform" rating to a "market perform" rating and set a $130.00 price objective for the company. in a report on Friday, January 10th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $132.00.

Insiders Place Their Bets

In related news, insider Tajinder S. Vohra sold 5,492 shares of the business'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 of the company's stock, valued at $2,295,550.12. This represents a 21.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.60% 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.