Revvity, Inc. (NYSE:RVTY) Shares Acquired by Guinness Asset Management LTD

Guinness Asset Management LTD increased its position in shares of Revvity, Inc. (NYSE:RVTY) by 18.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,564 shares of the company’s stock after purchasing an additional 701 shares during the quarter. Guinness Asset Management LTD’s holdings in Revvity were worth $509,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of RVTY. Gladius Capital Management LP acquired a new position in shares of Revvity in the 3rd quarter valued at about $32,000. Continuum Advisory LLC raised its position in Revvity by 2,972.7% during the third quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock valued at $43,000 after acquiring an additional 327 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings 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 acquiring an additional 167 shares during the period. Avior Wealth Management LLC boosted its position in Revvity by 7,980.0% in the 3rd quarter. Avior Wealth Management LLC now owns 404 shares of the company’s stock worth $52,000 after purchasing an additional 399 shares in the last quarter. Finally, Eastern Bank acquired a new stake in shares of Revvity during the 3rd quarter worth approximately $80,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Barclays decreased 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. Robert W. Baird increased their price target on Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Raymond James boosted their price objective on Revvity from $144.00 to $146.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. TD Cowen increased their target price on Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Bank of America raised shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price target for the company in a report on Friday, December 13th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $132.46.

Insiders Place Their Bets

In other news, 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 value of $641,520.52. Following the completion of the sale, the insider now directly owns 19,652 shares of the company’s stock, valued at $2,295,550.12. This trade represents a 21.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.60% of the stock is owned by insiders.

Revvity Price Performance

Shares of NYSE:RVTY opened at $118.29 on Monday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.97 and a current ratio of 3.56. Revvity, Inc. has a one year low of $97.32 and a one year high of $129.50. The company has a 50-day simple moving average of $114.94 and a 200-day simple moving average of $117.66. The stock has a market capitalization of $14.40 billion, a price-to-earnings ratio of 57.15, a PEG ratio of 3.37 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 for the quarter, topping analysts’ consensus estimates of $1.13 by $0.15. The company had revenue of $684.10 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the firm earned $1.18 EPS. On average, analysts predict that Revvity, Inc. will post 4.84 EPS for the current year.

Revvity Dividend Announcement

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

Revvity announced that its board has approved 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 buy up to 6.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

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.