Pflug Koory LLC Cuts Position in Revvity, Inc. (NYSE:RVTY)

Pflug Koory LLC reduced its holdings in shares of Revvity, Inc. (NYSE:RVTY) by 3.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 7,125 shares of the company’s stock after selling 265 shares during the quarter. Pflug Koory LLC’s holdings in Revvity were worth $795,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Canada Pension Plan Investment Board grew its stake in Revvity by 46.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 13,377 shares of the company’s stock valued at $1,403,000 after acquiring an additional 4,246 shares during the period. Pacer Advisors Inc. grew its holdings in shares of Revvity by 37.4% in the second quarter. Pacer Advisors Inc. now owns 11,720 shares of the company’s stock valued at $1,229,000 after purchasing an additional 3,192 shares during the period. Sei Investments Co. increased its holdings in shares of Revvity by 6.2% during the 2nd quarter. Sei Investments Co. now owns 23,996 shares of the company’s stock worth $2,516,000 after buying an additional 1,411 shares during the last quarter. ProShare Advisors LLC raised its position in Revvity by 7.8% in the second quarter. ProShare Advisors LLC now owns 17,956 shares of the company’s stock valued at $1,883,000 after purchasing an additional 1,295 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in Revvity by 74.2% in the second quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company’s stock valued at $41,000 after buying an additional 167 shares during the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on RVTY. 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 note on Thursday, October 17th. TD Cowen boosted their target price on Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Barclays reduced their price objective on shares of Revvity from $140.00 to $135.00 and set an “overweight” rating for the company in a research report on Monday, November 25th. Raymond James cut their target price on Revvity from $146.00 to $140.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, Bank of America raised shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price objective on the stock in a research report on Friday, December 13th. Five research 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’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $132.00.

Revvity Trading Up 0.2 %

Shares of NYSE:RVTY opened at $123.27 on Friday. The stock 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, Inc. has a 1 year low of $97.32 and a 1 year high of $129.50. The firm has a fifty day moving average price of $115.16 and a 200 day moving average price of $117.98. 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) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.28 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $679.66 million. During the same period in the prior year, the company posted $1.18 earnings per share. Revvity’s revenue for the quarter was up 2.1% on a year-over-year basis. Analysts expect that Revvity, Inc. will post 4.84 EPS for the current fiscal year.

Revvity Announces Dividend

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

Revvity declared that its Board of Directors has authorized a share buyback program on Monday, November 4th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 6.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Revvity

In other Revvity news, insider Tajinder S. Vohra sold 5,492 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total value of $641,520.52. Following the transaction, the insider now directly owns 19,652 shares of the company’s stock, valued at approximately $2,295,550.12. This trade represents a 21.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.60% of the company’s stock.

Revvity Company 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.