Exchange Traded Concepts LLC Has $623,000 Stock Position in Revvity, Inc. (NYSE:RVTY)

Exchange Traded Concepts LLC reduced its stake in Revvity, Inc. (NYSE:RVTY) by 38.5% during the 4th quarter, Holdings Channel reports. The firm owned 5,586 shares of the company’s stock after selling 3,502 shares during the period. Exchange Traded Concepts LLC’s holdings in Revvity were worth $623,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Janus Henderson Group PLC raised its holdings in Revvity by 1.7% in the third quarter. Janus Henderson Group PLC now owns 6,335,302 shares of the company’s stock worth $809,332,000 after purchasing an additional 108,401 shares during the period. State Street Corp raised its stake in Revvity by 0.3% during the 3rd quarter. State Street Corp now owns 5,180,169 shares of the company’s stock worth $661,767,000 after buying an additional 17,832 shares during the period. Geode Capital Management LLC lifted its holdings in Revvity by 0.9% during the third quarter. Geode Capital Management LLC now owns 2,863,793 shares of the company’s stock worth $364,569,000 after acquiring an additional 25,078 shares in the last quarter. EdgePoint Investment Group Inc. grew its stake in Revvity by 34.6% in the third quarter. EdgePoint Investment Group Inc. now owns 2,685,775 shares of the company’s stock valued at $343,108,000 after acquiring an additional 690,534 shares during the period. Finally, RGM Capital LLC increased its holdings in shares of Revvity by 3.2% in the third quarter. RGM Capital LLC now owns 980,858 shares of the company’s stock worth $125,305,000 after acquiring an additional 30,000 shares in the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

Revvity Price Performance

NYSE:RVTY opened at $126.93 on Friday. The firm’s fifty day moving average price is $116.29 and its two-hundred day moving average price is $118.54. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.56 and a quick ratio of 2.97. The company has a market cap of $15.45 billion, a P/E ratio of 61.32, a P/E/G ratio of 3.67 and a beta of 1.03. Revvity, Inc. has a one year low of $97.32 and a one year high of $129.50.

Revvity (NYSE:RVTY) last released its quarterly earnings results on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.15. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The firm had revenue of $684.10 million for the quarter, compared to analysts’ expectations of $679.66 million. During the same period in the prior year, the firm earned $1.18 EPS. The business’s revenue was up 2.1% on a year-over-year basis. Equities analysts expect that Revvity, Inc. will post 4.84 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 9th. Investors of record on Friday, April 18th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $0.28 annualized dividend and a yield of 0.22%. Revvity’s dividend payout ratio (DPR) is presently 13.53%.

Revvity announced that its board has authorized 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 purchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Sanford C. Bernstein cut Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price objective on the stock. in a report on Friday, January 10th. Barclays cut their price target on shares of Revvity from $140.00 to $135.00 and set an “overweight” rating on the stock in a research note on Monday, November 25th. Bank of America raised shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price objective for the company in a research report on Friday, December 13th. Leerink Partners boosted their price objective on shares of Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Robert W. Baird increased their target price on Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Revvity currently has a consensus rating of “Moderate Buy” and an average price target of $132.00.

Insider Buying and Selling at Revvity

In other Revvity news, insider Tajinder S. Vohra sold 5,492 shares of Revvity stock in a transaction dated Tuesday, January 7th. The shares were 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 owns 19,652 shares in the company, valued at $2,295,550.12. The trade was a 21.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.60% of the company’s stock.

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.