Tidal Investments LLC Purchases 50,666 Shares of Revvity, Inc. (NYSE:RVTY)

Tidal Investments LLC lifted its position in Revvity, Inc. (NYSE:RVTY) by 2,388.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 52,787 shares of the company’s stock after acquiring an additional 50,666 shares during the quarter. Tidal Investments LLC’s holdings in Revvity were worth $6,744,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Rothschild Investment LLC bought a new position in Revvity in the 2nd quarter valued at $25,000. Gladius Capital Management LP bought a new position in shares of Revvity in the third quarter worth about $32,000. EverSource Wealth Advisors LLC increased its stake 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 buying an additional 167 shares during the period. Family Firm Inc. bought a new stake in Revvity during the 2nd quarter valued at about $43,000. Finally, Fairfield Financial Advisors LTD purchased a new stake in Revvity in the 2nd quarter valued at about $43,000. 86.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Wells Fargo & Company assumed coverage on shares of Revvity in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $130.00 price target for the company. Barclays lowered their target price on Revvity from $140.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Raymond James raised their price target on Revvity from $144.00 to $146.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. TD Cowen upped their price objective on shares of Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Robert W. Baird increased their target price on shares of Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Five analysts have rated the stock with a hold rating, ten 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 an average price target of $132.47.

Insider Activity at Revvity

In other Revvity news, insider Tajinder S. Vohra sold 2,153 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $122.09, for a total transaction of $262,859.77. Following the completion of the transaction, the insider now directly owns 23,960 shares of the company’s stock, valued at approximately $2,925,276.40. This trade represents a 8.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.60% of the stock is owned by insiders.

Revvity Trading Down 0.0 %

Shares of NYSE:RVTY opened at $115.97 on Friday. The business’s 50-day moving average is $118.25 and its 200 day moving average is $116.34. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.56 and a quick ratio of 2.97. Revvity, Inc. has a 1 year low of $97.32 and a 1 year high of $129.50. The firm has a market capitalization of $14.11 billion, a P/E ratio of 56.02, a P/E/G ratio of 3.59 and a beta of 1.03.

Revvity (NYSE:RVTY) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.15. The firm had revenue of $684.10 million for the quarter, compared to the consensus estimate of $679.66 million. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.18 earnings per share. On average, research analysts predict that Revvity, Inc. will post 4.85 earnings per share for the current fiscal year.

Revvity Dividend Announcement

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

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

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.