Schrum Private Wealth Management LLC Sells 2,000 Shares of Revvity, Inc. (NYSE:RVTY)

Schrum Private Wealth Management LLC cut its position in Revvity, Inc. (NYSE:RVTY) by 50.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,000 shares of the company’s stock after selling 2,000 shares during the quarter. Schrum Private Wealth Management LLC’s holdings in Revvity were worth $256,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Rothschild Investment LLC acquired a new position in shares of Revvity during the 2nd quarter worth approximately $25,000. EverSource Wealth Advisors LLC raised its holdings in Revvity by 74.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company’s stock valued at $41,000 after acquiring an additional 167 shares in the last quarter. Family Firm Inc. bought a new stake in shares of Revvity during the 2nd quarter valued at $43,000. Fairfield Financial Advisors LTD acquired a new stake in shares of Revvity during the 2nd quarter worth $43,000. Finally, EntryPoint Capital LLC acquired a new stake in shares of Revvity during the 1st quarter worth $48,000. 86.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on RVTY. Sanford C. Bernstein cut their price objective on shares of Revvity from $150.00 to $145.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Raymond James raised their target price on Revvity from $144.00 to $146.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Leerink Partners upped their price objective on Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. TD Cowen raised their price objective on Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Robert W. Baird boosted their target price on Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Seven investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.07.

Insider Buying and Selling at Revvity

In other Revvity news, insider Tajinder S. Vohra sold 2,153 shares of the firm’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $122.09, for a total value of $262,859.77. Following the completion of the sale, the insider now directly owns 23,960 shares in the company, valued at approximately $2,925,276.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Tajinder S. Vohra sold 2,153 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $122.09, for a total transaction of $262,859.77. Following the completion of the sale, the insider now owns 23,960 shares in the company, valued at $2,925,276.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Tajinder S. Vohra sold 2,154 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $121.73, for a total value of $262,206.42. Following the completion of the transaction, the insider now owns 19,652 shares in the company, valued at approximately $2,392,237.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Revvity Stock Performance

NYSE:RVTY opened at $119.74 on Thursday. 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 fifty-two week low of $86.15 and a fifty-two week high of $129.50. The company has a 50 day simple moving average of $121.61 and a two-hundred day simple moving average of $115.19. The company has a market capitalization of $14.57 billion, a PE ratio of 57.85, a P/E/G ratio of 3.01 and a beta of 1.05.

Revvity (NYSE:RVTY) last announced its earnings results 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 business had revenue of $684.10 million during the quarter, compared to the consensus estimate of $679.66 million. Revvity had a net margin of 9.34% and a return on equity of 7.42%. Revvity’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.18 earnings per share. Research analysts anticipate that Revvity, Inc. will post 4.85 earnings per share for the current year.

Revvity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be issued a $0.07 dividend. The ex-dividend date is Friday, January 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.23%. Revvity’s payout ratio is currently 13.53%.

Revvity declared that its Board of Directors has initiated a stock buyback plan on Monday, November 4th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

About Revvity

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.