Tributary Capital Management LLC Has $1.36 Million Stock Position in Revvity, Inc. (NYSE:RVTY)

Tributary Capital Management LLC boosted its holdings in shares of Revvity, Inc. (NYSE:RVTY) by 45.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,173 shares of the company’s stock after buying an additional 3,808 shares during the quarter. Tributary Capital Management LLC’s holdings in Revvity were worth $1,359,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Gladius Capital Management LP bought a new position in shares of Revvity during the 3rd quarter worth approximately $32,000. Continuum Advisory LLC boosted its position in Revvity by 2,972.7% during the third quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock worth $43,000 after purchasing an additional 327 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Revvity by 55.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock valued at $43,000 after purchasing an additional 138 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of 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 purchasing an additional 167 shares during the period. Finally, Avior Wealth Management LLC raised its position in shares of Revvity by 7,980.0% in the third quarter. Avior Wealth Management LLC now owns 404 shares of the company’s stock valued at $52,000 after purchasing an additional 399 shares during the period. Institutional investors own 86.65% of the company’s stock.

Revvity Stock Performance

Shares of Revvity stock opened at $123.27 on Friday. The company has a 50 day moving average of $115.16 and a 200-day moving average of $117.98. The company has a market cap of $15.00 billion, a PE ratio of 59.55, a price-to-earnings-growth ratio of 3.67 and a beta of 1.03. 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, Inc. has a 1-year low of $97.32 and a 1-year high of $129.50.

Revvity (NYSE:RVTY) last issued its earnings results 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. Revvity had a return on equity of 7.42% and a net margin of 9.34%. The firm had revenue of $684.10 million for the quarter, compared to the consensus estimate of $679.66 million. During the same quarter last year, the business posted $1.18 EPS. The company’s revenue was up 2.1% compared to the same quarter last year. As a group, equities research analysts forecast that Revvity, Inc. will post 4.84 earnings per share for the current fiscal year.

Revvity declared that its Board of Directors has initiated a stock repurchase program on Monday, November 4th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes 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 shares are undervalued.

Revvity Dividend Announcement

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

Insider Transactions at Revvity

In related news, insider Tajinder S. Vohra sold 5,492 shares of Revvity stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total transaction of $641,520.52. Following the sale, the insider now directly owns 19,652 shares of the company’s stock, valued at approximately $2,295,550.12. The trade was a 21.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

RVTY has been the topic of a number of research reports. Bank of America upgraded shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price target on the stock in a research note on Friday, December 13th. Sanford C. Bernstein downgraded Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 target price on the stock. in a research report on Friday, January 10th. Leerink Partners increased their target price on Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Robert W. Baird upped their price objective on Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, Barclays dropped 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. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $132.00.

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.