Tidal Investments LLC Buys 50,666 Shares of Revvity, Inc. (NYSE:RVTY)

Tidal Investments LLC increased its position in Revvity, Inc. (NYSE:RVTY - Free Report) by 2,388.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,787 shares of the company's stock after acquiring an additional 50,666 shares during the quarter. Tidal Investments LLC's holdings in Revvity were worth $6,744,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RVTY. Janus Henderson Group PLC boosted its position in shares of Revvity by 1.7% in the third quarter. Janus Henderson Group PLC now owns 6,335,302 shares of the company's stock valued at $809,332,000 after acquiring an additional 108,401 shares during the period. State Street Corp boosted its holdings in Revvity by 0.3% in the 3rd quarter. State Street Corp now owns 5,180,169 shares of the company's stock valued at $661,767,000 after purchasing an additional 17,832 shares during the period. Geode Capital Management LLC grew its position in Revvity by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,863,793 shares of the company's stock worth $364,569,000 after purchasing an additional 25,078 shares during the last quarter. EdgePoint Investment Group Inc. increased its holdings in shares of Revvity by 34.6% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 2,685,775 shares of the company's stock worth $343,108,000 after purchasing an additional 690,534 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Revvity by 5.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,149,122 shares of the company's stock worth $120,506,000 after purchasing an additional 57,656 shares during the period. Institutional investors and hedge funds own 86.65% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on RVTY shares. Raymond James lifted their target price on Revvity from $144.00 to $146.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 5th. Leerink Partners lifted their price objective on Revvity from $130.00 to $135.00 and gave the stock an "outperform" rating in a report on Thursday, October 17th. TD Cowen upped their target price on Revvity from $141.00 to $144.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Wells Fargo & Company assumed coverage on Revvity in a research report on Tuesday, August 27th. They issued an "equal weight" rating and a $130.00 target price for the company. Finally, Barclays lowered their price target on shares of Revvity from $140.00 to $135.00 and set an "overweight" rating on the stock in a report on Monday, November 25th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $132.47.

Insider Buying and Selling

In other Revvity news, insider Tajinder S. Vohra sold 2,154 shares of the company's stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total transaction of $262,206.42. Following the transaction, the insider now directly owns 19,652 shares in the company, valued at approximately $2,392,237.96. This represents a 9.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

Revvity Price Performance

Revvity stock traded down $0.07 on Friday, reaching $115.94. The company's stock had a trading volume of 1,275,028 shares, compared to its average volume of 844,995. The business's fifty day moving average price is $118.09 and its 200 day moving average price is $116.36. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.97 and a current ratio of 3.56. The company has a market cap of $14.11 billion, a price-to-earnings ratio of 56.01, a PEG ratio of 3.59 and a beta of 1.03. Revvity, Inc. has a twelve month low of $97.32 and a twelve month high of $129.50.

Revvity (NYSE:RVTY - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.28 earnings per share (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 the consensus estimate of $679.66 million. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The firm's quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.18 EPS. Equities analysts expect that Revvity, Inc. will post 4.85 earnings per share for the current fiscal year.

Revvity Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date of this dividend is Friday, January 17th. Revvity's dividend payout ratio is currently 13.53%.

Revvity declared that its Board of Directors has initiated a share buyback program on Monday, November 4th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 6.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.

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.