Net Worth Advisory Group Makes New $357,000 Investment in Revvity, Inc. (NYSE:RVTY)

Net Worth Advisory Group bought a new stake in Revvity, Inc. (NYSE:RVTY) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 2,792 shares of the company’s stock, valued at approximately $357,000.

A number of other institutional investors and hedge funds also recently modified their holdings of RVTY. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Revvity by 1.6% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,843 shares of the company’s stock valued at $1,641,000 after buying an additional 202 shares during the period. Drake & Associates LLC grew its position in shares of Revvity by 13.2% during the 3rd quarter. Drake & Associates LLC now owns 4,976 shares of the company’s stock valued at $636,000 after acquiring an additional 580 shares during the period. Vontobel Holding Ltd. purchased a new stake in shares of Revvity during the 3rd quarter worth approximately $277,000. Creative Planning increased its stake in shares of Revvity by 2.3% during the 3rd quarter. Creative Planning now owns 20,308 shares of the company’s stock worth $2,594,000 after purchasing an additional 451 shares during the last quarter. Finally, CX Institutional raised its holdings in shares of Revvity by 1.1% in the 3rd quarter. CX Institutional now owns 7,984 shares of the company’s stock worth $1,020,000 after purchasing an additional 86 shares during the period. 86.65% of the stock is owned by hedge funds and other institutional investors.

Revvity Price Performance

Revvity stock opened at $119.67 on Monday. The stock has a market cap of $14.77 billion, a price-to-earnings ratio of 98.90, a PEG ratio of 3.35 and a beta of 1.05. The company has a quick ratio of 1.98, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. The business has a 50-day simple moving average of $121.61 and a 200 day simple moving average of $113.13. Revvity, Inc. has a 52 week low of $79.50 and a 52 week high of $128.15.

Revvity (NYSE:RVTY) last issued its quarterly earnings data on Monday, July 29th. The company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.12 by $0.10. The company had revenue of $691.70 million during the quarter, compared to analyst estimates of $690.33 million. Revvity had a return on equity of 7.34% and a net margin of 6.26%. Revvity’s revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.21 earnings per share. On average, research analysts forecast that Revvity, Inc. will post 4.75 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 18th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend is Friday, October 18th. Revvity’s dividend payout ratio (DPR) is currently 23.14%.

Insider Transactions at Revvity

In related news, insider Joel S. Goldberg sold 3,500 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $117.86, for a total value of $412,510.00. Following the transaction, the insider now owns 33,400 shares of the company’s stock, valued at $3,936,524. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Tajinder S. Vohra sold 2,154 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total value of $262,206.42. Following the completion of the sale, the insider now directly owns 19,652 shares in the company, valued at approximately $2,392,237.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Joel S. Goldberg sold 3,500 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $117.86, for a total transaction of $412,510.00. Following the transaction, the insider now directly owns 33,400 shares in the company, valued at approximately $3,936,524. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,807 shares of company stock valued at $937,576. Insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

RVTY has been the subject of a number of recent research reports. Wells Fargo & Company initiated coverage on Revvity in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 target price for the company. JPMorgan Chase & Co. lifted their price objective on Revvity from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Barclays raised shares of Revvity from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $125.00 to $140.00 in a report on Tuesday, October 15th. Jefferies Financial Group lifted their target price on shares of Revvity from $115.00 to $125.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Finally, TD Cowen upped their price target on shares of Revvity from $130.00 to $141.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Revvity has a consensus rating of “Moderate Buy” and an average target price of $127.20.

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.