Institute for Wealth Management LLC. Buys New Stake in Revvity, Inc. (NYSE:RVTY)

Institute for Wealth Management LLC. bought a new stake in shares of Revvity, Inc. (NYSE:RVTY) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 4,529 shares of the company’s stock, valued at approximately $495,000.

Several other hedge funds and other institutional investors have also made changes to their positions in RVTY. KBC Group NV acquired a new position in shares of Revvity during the 3rd quarter valued at $25,301,000. Public Sector Pension Investment Board acquired a new position in Revvity in the 3rd quarter worth $1,472,000. 2Xideas AG acquired a new position in Revvity in the 3rd quarter worth $20,968,000. Citigroup Inc. acquired a new position in Revvity in the 3rd quarter worth $5,548,000. Finally, Wesbanco Bank Inc. acquired a new position in Revvity in the 3rd quarter worth $522,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

Insider Activity

In related news, insider Prahlad R. Singh sold 21,217 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $104.28, for a total transaction of $2,212,508.76. Following the transaction, the insider now owns 92,801 shares in the company, valued at $9,677,288.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.60% of the company’s stock.

Revvity Price Performance

NYSE RVTY opened at $100.86 on Friday. Revvity, Inc. has a 52 week low of $79.50 and a 52 week high of $135.67. The company has a current ratio of 2.07, a quick ratio of 1.77 and a debt-to-equity ratio of 0.40. The stock has a market cap of $12.46 billion, a price-to-earnings ratio of 18.34, a price-to-earnings-growth ratio of 2.59 and a beta of 1.09. The company has a 50-day moving average price of $104.78 and a two-hundred day moving average price of $101.64.

Revvity (NYSE:RVTY) last posted its earnings results on Thursday, February 1st. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.15 by $0.10. Revvity had a net margin of 25.20% and a return on equity of 7.41%. The firm had revenue of $695.90 million during the quarter. Analysts forecast that Revvity, Inc. will post 4.65 EPS for the current year.

Revvity Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 19th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend is Thursday, April 18th. Revvity’s dividend payout ratio (DPR) is presently 5.09%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RVTY. Evercore ISI upgraded shares of Revvity from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $88.00 to $125.00 in a report on Thursday, January 4th. Barclays upped their target price on shares of Revvity from $92.00 to $105.00 and gave the company an “equal weight” rating in a research note on Thursday, January 25th. Raymond James upped their target price on shares of Revvity from $106.00 to $127.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. KeyCorp upped their target price on shares of Revvity from $110.00 to $126.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Finally, UBS Group lowered shares of Revvity from a “buy” rating to a “neutral” rating and upped their target price for the company from $105.00 to $125.00 in a research note on Tuesday, January 16th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently 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.