Raymond James & Associates Invests $869,000 in Revvity, Inc. (NYSE:RVTY)

Raymond James & Associates purchased a new stake in Revvity, Inc. (NYSE:RVTY) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 7,952 shares of the company’s stock, valued at approximately $869,000.

A number of other hedge funds have also added to or reduced their stakes in RVTY. Gladius Capital Management LP grew its stake in shares of Revvity by 84.1% in the 3rd quarter. Gladius Capital Management LP now owns 232 shares of the company’s stock worth $26,000 after acquiring an additional 106 shares in the last quarter. JTC Employer Solutions Trustee Ltd bought a new stake in Revvity in the 4th quarter worth about $33,000. Headinvest LLC purchased a new stake in Revvity in the 3rd quarter valued at about $57,000. DB Wealth Management Group LLC bought a new position in shares of Revvity during the 4th quarter worth approximately $79,000. Finally, Sugarloaf Wealth Management LLC purchased a new position in shares of Revvity in the 4th quarter worth approximately $168,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

Insider Transactions at Revvity

In related news, insider Prahlad R. Singh sold 21,217 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $104.28, for a total transaction of $2,212,508.76. Following the completion of the transaction, the insider now directly owns 92,801 shares in the company, valued at $9,677,288.28. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.60% of the company’s stock.

Revvity Price Performance

Shares of NYSE RVTY opened at $100.77 on Tuesday. The stock has a fifty day moving average of $104.69 and a 200-day moving average of $101.52. The stock has a market cap of $12.45 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 2.63 and a beta of 1.09. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.77 and a current ratio of 2.07. Revvity, Inc. has a fifty-two week low of $79.50 and a fifty-two week high of $135.67.

Revvity (NYSE:RVTY) last announced its quarterly earnings results on Thursday, February 1st. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.15 by $0.10. Revvity had a return on equity of 7.41% and a net margin of 25.20%. The firm had revenue of $695.90 million for the quarter. Equities research analysts anticipate that Revvity, Inc. will post 4.65 earnings per share for the current year.

Revvity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 19th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.28%. Revvity’s dividend payout ratio (DPR) is currently 5.09%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Evercore ISI upgraded Revvity from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $88.00 to $125.00 in a report on Thursday, January 4th. UBS Group lowered shares of Revvity from a “buy” rating to a “neutral” rating and increased their price target for the company from $105.00 to $125.00 in a research report on Tuesday, January 16th. Stifel Nicolaus lifted their price objective on shares of Revvity from $95.00 to $110.00 and gave the stock a “hold” rating in a research report on Friday, February 2nd. Raymond James increased their target price on shares of Revvity from $106.00 to $127.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Finally, Barclays lifted their price target on shares of Revvity from $92.00 to $105.00 and gave the stock an “equal weight” rating in a report on Thursday, January 25th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Revvity has a consensus rating of “Moderate Buy” and a consensus target price of $118.91.

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.