Tributary Capital Management LLC Grows Holdings in Revvity, Inc. (NYSE:RVTY)

Tributary Capital Management LLC raised its holdings in shares of Revvity, Inc. (NYSE:RVTY - Free Report) by 45.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,173 shares of the company's stock after acquiring an additional 3,808 shares during the period. Tributary Capital Management LLC's holdings in Revvity were worth $1,359,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Gladius Capital Management LP purchased a new stake in Revvity during the 3rd quarter valued at about $32,000. Continuum Advisory LLC lifted its position in Revvity by 2,972.7% in the third 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. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Revvity by 55.9% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company's stock valued at $43,000 after purchasing an additional 138 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Revvity by 74.2% in the second quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company's stock worth $41,000 after purchasing an additional 167 shares during the last quarter. Finally, Avior Wealth Management LLC increased its stake 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 worth $52,000 after buying an additional 399 shares during the period. 86.65% of the stock is currently owned by institutional investors.

Revvity Stock Up 0.2 %

Shares of Revvity stock traded up $0.24 during trading on Friday, hitting $123.27. The company's stock had a trading volume of 726,351 shares, compared to its average volume of 587,330. Revvity, Inc. has a 52 week low of $97.32 and a 52 week high of $129.50. 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 fifty day simple moving average of $115.44 and a two-hundred day simple moving average of $118.11. The company has a market capitalization of $15.00 billion, a PE ratio of 59.55, a P/E/G ratio of 3.67 and a beta of 1.03.

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

Revvity declared that its board has initiated a share buyback program on Monday, November 4th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 6.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board of directors believes its stock is undervalued.

Revvity Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 18th will be given a dividend of $0.07 per share. 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 dividend payout ratio (DPR) is 13.53%.

Insiders Place Their Bets

In related news, insider Tajinder S. Vohra sold 5,492 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total transaction of $641,520.52. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RVTY. Robert W. Baird increased their price target 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. TD Cowen increased their target price on shares of Revvity from $141.00 to $144.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Barclays reduced their price target on Revvity from $140.00 to $135.00 and set an "overweight" rating on the stock in a report on Monday, November 25th. Raymond James dropped their price objective on Revvity from $146.00 to $140.00 and set an "outperform" rating for the company in a report on Tuesday. Finally, Leerink Partners boosted their target price on Revvity from $130.00 to $135.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $132.00.

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.