Cannell & Co. Purchases Shares of 10,865 Revvity, Inc. (NYSE:RVTY)

Cannell & Co. purchased a new stake in Revvity, Inc. (NYSE:RVTY) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 10,865 shares of the company’s stock, valued at approximately $1,188,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust acquired a new position in shares of Revvity in the fourth quarter valued at about $25,000. Gladius Capital Management LP increased its holdings in shares of Revvity by 84.1% in the third quarter. Gladius Capital Management LP now owns 232 shares of the company’s stock valued at $26,000 after purchasing an additional 106 shares during the period. CENTRAL TRUST Co acquired a new position in shares of Revvity in the fourth quarter valued at about $27,000. ORG Partners LLC acquired a new position in shares of Revvity in the fourth quarter valued at about $32,000. Finally, JTC Employer Solutions Trustee Ltd acquired a new position in shares of Revvity in the fourth quarter valued at about $33,000. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on RVTY shares. Robert W. Baird increased their price objective on Revvity from $126.00 to $127.00 and gave the company an “outperform” rating in a report on Tuesday. Evercore ISI raised Revvity from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $88.00 to $125.00 in a report on Thursday, January 4th. Raymond James increased their price objective on Revvity from $106.00 to $127.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. TD Cowen raised their target price on Revvity from $123.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, KeyCorp raised their target price on Revvity from $110.00 to $126.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Revvity has an average rating of “Moderate Buy” and an average price target of $118.17.

Insider Buying and Selling at Revvity

In other Revvity news, insider Prahlad R. Singh sold 21,217 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $104.28, for a total value of $2,212,508.76. Following the sale, the insider now directly owns 92,801 shares of the company’s stock, valued at $9,677,288.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.60% of the stock is owned by corporate insiders.

Revvity Stock Up 0.1 %

Shares of RVTY opened at $102.60 on Thursday. The company has a current ratio of 2.23, a quick ratio of 1.77 and a debt-to-equity ratio of 0.40. Revvity, Inc. has a 12 month low of $79.50 and a 12 month high of $132.54. The stock’s 50 day moving average is $104.70 and its two-hundred day moving average is $101.32. The firm has a market cap of $12.67 billion, a P/E ratio of 84.79, a PEG ratio of 2.67 and a beta of 1.09.

Revvity (NYSE:RVTY) last issued its quarterly earnings data on Monday, April 29th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.94 by $0.04. Revvity had a return on equity of 7.37% and a net margin of 5.49%. The company had revenue of $649.90 million for the quarter, compared to analyst estimates of $646.83 million. During the same period last year, the company earned $1.01 earnings per share. Revvity’s quarterly revenue was down 3.7% compared to the same quarter last year. Analysts predict that Revvity, Inc. will post 4.65 earnings per share for the current fiscal year.

Revvity Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 19th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend is Friday, July 19th. Revvity’s payout ratio is currently 23.14%.

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.