Cinctive Capital Management LP Purchases New Position in Revvity, Inc. (NYSE:RVTY)

Cinctive Capital Management LP acquired a new position in shares of Revvity, Inc. (NYSE:RVTY) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 18,068 shares of the company’s stock, valued at approximately $2,308,000.

Other large investors also recently added to or reduced their stakes in the company. Rothschild Investment LLC purchased a new stake in shares of Revvity in the second quarter valued at $25,000. Gladius Capital Management LP purchased a new stake in Revvity in the 3rd quarter worth about $32,000. EverSource Wealth Advisors LLC raised its position in Revvity by 74.2% in the 2nd 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 period. Family Firm Inc. purchased a new position in shares of Revvity during the second quarter valued at approximately $43,000. Finally, Fairfield Financial Advisors LTD bought a new position in shares of Revvity during the second quarter valued at approximately $43,000. 86.65% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Tajinder S. Vohra sold 2,154 shares of the business’s stock in a transaction on Wednesday, October 9th. The stock was 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 $2,392,237.96. The trade was a 9.88 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

RVTY has been the subject of a number of research analyst reports. TD Cowen raised their price target on Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Sanford C. Bernstein decreased their target price on Revvity from $150.00 to $145.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Robert W. Baird boosted their target price on shares of Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Wells Fargo & Company started coverage on shares of Revvity in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 price target on the stock. Finally, Barclays lowered 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. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Revvity presently has an average rating of “Moderate Buy” and a consensus price target of $131.73.

Revvity Stock Up 0.5 %

Shares of NYSE RVTY opened at $116.69 on Tuesday. Revvity, Inc. has a 12-month low of $88.62 and a 12-month high of $129.50. The stock’s fifty day simple moving average is $119.60 and its two-hundred day simple moving average is $116.15. The stock has a market capitalization of $14.20 billion, a PE ratio of 56.37, a price-to-earnings-growth ratio of 3.57 and a beta of 1.05. 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 for the quarter, beating analysts’ consensus estimates of $1.13 by $0.15. The company had revenue of $684.10 million for the quarter, compared to the consensus estimate of $679.66 million. Revvity had a return on equity of 7.42% and a net margin of 9.34%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.18 earnings per share. As a group, analysts expect that Revvity, Inc. will post 4.85 EPS for the current fiscal year.

Revvity announced that its Board of Directors has authorized a stock repurchase program on Monday, November 4th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to reacquire up to 6.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Revvity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be paid a dividend of $0.07 per share. The ex-dividend date is Friday, January 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.24%. Revvity’s dividend payout ratio (DPR) is presently 13.53%.

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.