Amalgamated Bank Trims Stock Holdings in Revvity, Inc. (NYSE:RVTY)

Amalgamated Bank cut its holdings in shares of Revvity, Inc. (NYSE:RVTY) by 2.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,550 shares of the company’s stock after selling 669 shares during the period. Amalgamated Bank’s holdings in Revvity were worth $2,628,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. JPMorgan Chase & Co. grew its position in Revvity by 13.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 344,115 shares of the company’s stock worth $43,961,000 after purchasing an additional 41,497 shares during the last quarter. Contravisory Investment Management Inc. boosted its stake in shares of Revvity by 1,715.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 69,186 shares of the company’s stock worth $7,722,000 after buying an additional 65,376 shares during the period. Bretton Capital Management LLC purchased a new position in shares of Revvity during the third quarter worth about $1,405,000. FMR LLC increased its position in Revvity by 40.8% in the 3rd quarter. FMR LLC now owns 155,556 shares of the company’s stock valued at $19,872,000 after acquiring an additional 45,040 shares during the period. Finally, International Assets Investment Management LLC lifted its position in Revvity by 12,674.8% during the 3rd quarter. International Assets Investment Management LLC now owns 13,669 shares of the company’s stock worth $1,746,000 after acquiring an additional 13,562 shares during the period. 86.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on RVTY shares. Robert W. Baird boosted their target price on Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Sanford C. Bernstein cut shares of Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price objective on the stock. in a research note on Friday, January 10th. Raymond James restated an “outperform” rating and issued a $145.00 target price (up previously from $140.00) on shares of Revvity in a research note on Monday, February 3rd. Bank of America upgraded shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price target on the stock in a research note on Friday, December 13th. Finally, TD Cowen raised their price objective on shares of Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $136.25.

Insider Activity at Revvity

In other news, insider Joel S. Goldberg sold 15,170 shares of the business’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $126.73, for a total value of $1,922,494.10. Following the completion of the transaction, the insider now directly owns 33,400 shares of the company’s stock, valued at $4,232,782. The trade was a 31.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Tajinder S. Vohra sold 5,492 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total value of $641,520.52. Following the sale, the insider now directly owns 19,652 shares in the company, valued at approximately $2,295,550.12. The trade was a 21.84 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is owned by corporate insiders.

Revvity Price Performance

RVTY stock opened at $112.28 on Friday. The firm has a 50 day moving average of $116.88 and a 200-day moving average of $118.47. The company has a market cap of $13.66 billion, a price-to-earnings ratio of 50.81, a PEG ratio of 3.82 and a beta of 1.03. The company has a current ratio of 3.60, a quick ratio of 3.03 and a debt-to-equity ratio of 0.41. Revvity, Inc. has a 12-month low of $97.32 and a 12-month high of $129.50.

Revvity (NYSE:RVTY) last issued its quarterly earnings data on Friday, January 31st. The company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.05. Revvity had a return on equity of 7.68% and a net margin of 9.81%. During the same quarter in the previous year, the firm earned $1.25 earnings per share. As a group, equities analysts expect that Revvity, Inc. will post 4.94 EPS for the current fiscal year.

Revvity announced that its board has initiated a stock buyback program on Monday, November 4th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 6.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Revvity Announces Dividend

The firm also recently disclosed 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 is Thursday, April 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.25%. Revvity’s payout ratio is 12.67%.

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.