Custom Index Systems LLC Acquires 855 Shares of Revvity, Inc. (NYSE:RVTY)

Custom Index Systems LLC boosted its stake in shares of Revvity, Inc. (NYSE:RVTY) by 15.1% during the fourth quarter, Holdings Channel reports. The fund owned 6,522 shares of the company’s stock after acquiring an additional 855 shares during the period. Custom Index Systems LLC’s holdings in Revvity were worth $728,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Gladius Capital Management LP bought a new stake in shares of Revvity during the third quarter valued at approximately $32,000. Continuum Advisory LLC lifted its holdings in Revvity by 2,972.7% during the 3rd quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock worth $43,000 after buying an additional 327 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in Revvity by 55.9% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock valued at $43,000 after buying an additional 138 shares during the last quarter. Avior Wealth Management LLC increased its stake in shares of Revvity by 7,980.0% in the 3rd quarter. Avior Wealth Management LLC now owns 404 shares of the company’s stock valued at $52,000 after buying an additional 399 shares during the period. Finally, Eastern Bank bought a new stake in shares of Revvity during the third quarter worth $80,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

Revvity Stock Performance

Shares of Revvity stock opened at $126.13 on Friday. Revvity, Inc. has a 12 month low of $97.32 and a 12 month high of $129.50. The company has a current ratio of 3.56, a quick ratio of 2.97 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $15.35 billion, a PE ratio of 60.93, a PEG ratio of 4.09 and a beta of 1.03. The stock’s fifty day simple moving average is $116.60 and its 200 day simple moving average is $118.60.

Revvity (NYSE:RVTY) last released its quarterly earnings data on Friday, January 31st. The company reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.05. Revvity had a return on equity of 7.42% and a net margin of 9.34%. During the same quarter in the previous year, the firm posted $1.25 EPS. On average, research analysts predict that Revvity, Inc. will post 4.84 EPS for the current year.

Revvity declared that its board has authorized a share repurchase plan 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 plans are usually an indication that the company’s management believes its shares are undervalued.

Revvity Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders 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 dividend yield of 0.22%. The ex-dividend date of this dividend is Thursday, April 17th. Revvity’s dividend payout ratio is 13.53%.

Insider Buying and Selling

In other Revvity news, insider Joel S. Goldberg sold 15,170 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $126.73, for a total transaction of $1,922,494.10. Following the completion of the transaction, the insider now owns 33,400 shares of the company’s stock, valued at $4,232,782. This represents a 31.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Tajinder S. Vohra sold 5,492 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $116.81, for a total transaction of $641,520.52. Following the transaction, the insider now directly owns 19,652 shares of the company’s stock, valued at $2,295,550.12. This represents a 21.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Robert W. Baird raised their price target on Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. TD Cowen raised their target price on shares of Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Barclays dropped their price target on shares of Revvity from $140.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. 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 note on Friday, December 13th. Finally, Raymond James lowered their target price on shares of Revvity from $146.00 to $140.00 and set an “outperform” rating for the company in a report on Tuesday, January 21st. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $132.00.

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.