Trust Point Inc. Takes $513,000 Position in Revvity, Inc. (NYSE:RVTY)

Trust Point Inc. acquired a new position in shares of Revvity, Inc. (NYSE:RVTY - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 4,594 shares of the company's stock, valued at approximately $513,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Janus Henderson Group PLC lifted its position in shares of Revvity by 1.7% during the 3rd quarter. Janus Henderson Group PLC now owns 6,335,302 shares of the company's stock worth $809,332,000 after buying an additional 108,401 shares during the last quarter. State Street Corp boosted its holdings in shares of Revvity by 0.3% in the third quarter. State Street Corp now owns 5,180,169 shares of the company's stock valued at $661,767,000 after acquiring an additional 17,832 shares during the period. Geode Capital Management LLC increased its stake in Revvity by 0.9% in the third quarter. Geode Capital Management LLC now owns 2,863,793 shares of the company's stock valued at $364,569,000 after purchasing an additional 25,078 shares during the period. EdgePoint Investment Group Inc. raised its holdings in shares of Revvity by 34.6% in the third quarter. EdgePoint Investment Group Inc. now owns 2,685,775 shares of the company's stock valued at $343,108,000 after buying an additional 690,534 shares during the last quarter. Finally, RGM Capital LLC boosted its stake in shares of Revvity by 3.2% during the third quarter. RGM Capital LLC now owns 980,858 shares of the company's stock worth $125,305,000 after buying an additional 30,000 shares during the period. Institutional investors and hedge funds own 86.65% of the company's stock.

Revvity Stock Down 0.3 %

Shares of NYSE RVTY traded down $0.30 on Friday, hitting $118.86. The company had a trading volume of 942,552 shares, compared to its average volume of 913,091. The company has a quick ratio of 3.03, a current ratio of 3.60 and a debt-to-equity ratio of 0.41. Revvity, Inc. has a 12-month low of $97.32 and a 12-month high of $129.50. The firm has a market capitalization of $14.47 billion, a P/E ratio of 53.78, a PEG ratio of 3.97 and a beta of 1.03. The business has a 50 day moving average of $117.46 and a two-hundred day moving average of $119.15.

Revvity (NYSE:RVTY - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The company reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates 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 period in the previous year, the company posted $1.25 earnings per share. As a group, equities research analysts forecast that Revvity, Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 18th will be given a $0.07 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.24%. Revvity's payout ratio is currently 12.67%.

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

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Leerink Partners raised their price objective on shares of Revvity from $130.00 to $135.00 and gave the company an "outperform" rating in a research report on Thursday, October 17th. Raymond James restated an "outperform" rating and issued a $145.00 price target (up from $140.00) on shares of Revvity in a research note on Monday, February 3rd. Robert W. Baird increased their price objective on Revvity from $136.00 to $138.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 5th. KeyCorp raised their target price on Revvity from $132.00 to $145.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Finally, TD Cowen increased their price target on shares of Revvity from $141.00 to $144.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Revvity currently has a consensus rating of "Moderate Buy" and a consensus target price of $136.25.

Insider Transactions at Revvity

In other news, insider Tajinder S. Vohra sold 5,492 shares of the stock in a transaction on Tuesday, January 7th. The stock was 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 of the company's stock, valued at approximately $2,295,550.12. This represents a 21.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Joel S. Goldberg sold 15,170 shares of Revvity stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $126.73, for a total transaction of $1,922,494.10. Following the sale, 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 disclosure for this sale can be found here. Insiders own 0.60% of the company's stock.

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.