Jefferies Financial Group Inc. Makes New Investment in Revvity Inc. $RVTY

Jefferies Financial Group Inc. purchased a new stake in shares of Revvity Inc. (NYSE:RVTY) during the 3rd quarter, Holdings Channel reports. The fund purchased 5,015 shares of the company’s stock, valued at approximately $767,000.

Other hedge funds have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio bought a new stake in Revvity during the 2nd quarter worth about $3,845,000. The Manufacturers Life Insurance Company boosted its stake in shares of Revvity by 5.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 368,938 shares of the company’s stock valued at $41,048,000 after purchasing an additional 20,278 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Revvity by 10,653.8% in the 2nd quarter. Wellington Management Group LLP now owns 865,575 shares of the company’s stock valued at $96,304,000 after purchasing an additional 857,526 shares during the last quarter. State Street Corp boosted its stake in shares of Revvity by 0.8% in the 2nd quarter. State Street Corp now owns 4,342,739 shares of the company’s stock valued at $483,173,000 after purchasing an additional 32,426 shares during the last quarter. Finally, Tocqueville Asset Management L.P. acquired a new stake in shares of Revvity during the 2nd quarter worth approximately $4,791,000. Institutional investors own 86.65% of the company’s stock.

Revvity Trading Down 1.5%

Shares of NYSE:RVTY traded down $2.42 during mid-day trading on Friday, reaching $154.60. The stock had a trading volume of 1,306,668 shares, compared to its average volume of 1,846,673. The firm has a 50 day simple moving average of $150.48 and a two-hundred day simple moving average of $114.30. Revvity Inc. has a twelve month low of $81.22 and a twelve month high of $171.74. The firm has a market cap of $17.26 billion, a PE ratio of 68.41, a price-to-earnings-growth ratio of 2.75 and a beta of 1.08. The company has a current ratio of 2.65, a quick ratio of 2.10 and a debt-to-equity ratio of 0.36.

Revvity (NYSE:RVTY) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.08. The firm had revenue of $728.90 million during the quarter, compared to analysts’ expectations of $694.73 million. Revvity had a net margin of 8.61% and a return on equity of 8.64%. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.18 earnings per share. On average, research analysts predict that Revvity Inc. will post 5.42 EPS for the current fiscal year.

Revvity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 12th. Shareholders of record on Friday, January 22nd will be issued a $0.07 dividend. The ex-dividend date is Friday, January 22nd. This represents a $0.28 annualized dividend and a yield of 0.2%. Revvity’s dividend payout ratio (DPR) is 12.39%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RVTY. Barclays boosted their price target on shares of Revvity from $160.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 4th. William Blair began coverage on Revvity in a research note on Monday, October 5th. They set an “outperform” rating for the company. Cfra raised Revvity from a “hold” rating to a “buy” rating in a research note on Wednesday, November 4th. Royal Bank Of Canada upped their price objective on Revvity from $135.00 to $172.00 and gave the company a “sector perform” rating in a report on Wednesday, November 4th. Finally, Evercore reissued an “outperform” rating on shares of Revvity in a research note on Wednesday, August 5th. Six research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $133.86.

Insiders Place Their Bets

In other news, insider Maxwell Krakowiak sold 1,631 shares of the business’s stock in a transaction on Monday, September 21st. The shares were sold at an average price of $144.53, for a total value of $235,728.43. Following the completion of the transaction, the insider owned 14,781 shares of the company’s stock, valued at $2,136,297.93. The trade was a 9.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tajinder S. Vohra sold 7,330 shares of the company’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $140.88, for a total transaction of $1,032,650.40. Following the completion of the sale, the insider owned 6,635 shares of the company’s stock, valued at approximately $934,738.80. This represents a 52.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 9,045 shares of company stock worth $1,281,439. Insiders own 0.85% of the company’s stock.

About Revvity

Revvity, Inc. develops and supplies products and services for life sciences research and clinical diagnostics. Its offerings include instruments, reagents, software and related services used by pharmaceutical and biotechnology companies, academic and government research institutions, hospitals and clinical laboratories. The company’s work spans areas such as drug discovery and development, genetic testing, newborn screening and other diagnostic applications. Its technologies help researchers and healthcare providers analyze biological samples and generate information used in research and patient care.