Sivik Global Healthcare LLC Invests $5.11 Million in Revvity, Inc. (NYSE:RVTY)

Sivik Global Healthcare LLC bought a new stake in Revvity, Inc. (NYSE:RVTY) during the third quarter, HoldingsChannel.com reports. The fund bought 40,000 shares of the company’s stock, valued at approximately $5,110,000. Revvity makes up about 2.2% of Sivik Global Healthcare LLC’s investment portfolio, making the stock its 20th biggest position.

Several other institutional investors have also recently bought and sold shares of the company. Rothschild Investment LLC bought a new stake in shares of Revvity in the second quarter worth $25,000. EverSource Wealth Advisors LLC increased its stake 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 buying an additional 167 shares during the last quarter. Family Firm Inc. bought a new stake in Revvity during the 2nd quarter worth about $43,000. Fairfield Financial Advisors LTD acquired a new position in shares of Revvity during the 2nd quarter worth about $43,000. Finally, EntryPoint Capital LLC bought a new position in shares of Revvity in the 1st quarter valued at about $48,000. Institutional investors own 86.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RVTY. Raymond James raised their price target on Revvity from $144.00 to $146.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Bank of America upped their price target on shares of Revvity from $118.00 to $127.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Leerink Partners boosted their price objective on shares of Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Barclays upgraded shares of Revvity from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $125.00 to $140.00 in a research note on Tuesday, October 15th. Finally, Jefferies Financial Group boosted their price target on Revvity from $115.00 to $125.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $132.07.

Insider Activity

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

Revvity Price Performance

Shares of NYSE RVTY traded down $0.96 during midday trading on Thursday, reaching $118.78. The company’s stock had a trading volume of 14,578 shares, compared to its average volume of 826,969. 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 $86.30 and a fifty-two week high of $129.50. The company has a market cap of $14.46 billion, a P/E ratio of 57.85, a P/E/G ratio of 3.01 and a beta of 1.05. The business’s 50 day moving average price is $121.65 and its two-hundred day moving average price is $115.22.

Revvity (NYSE:RVTY) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.15. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The company had revenue of $684.10 million for the quarter, compared to analyst estimates of $679.66 million. During the same quarter in the previous year, the business earned $1.18 earnings per share. Revvity’s revenue was up 2.1% compared to the same quarter last year. On average, analysts forecast that Revvity, Inc. will post 4.85 EPS for the current fiscal year.

Revvity Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.24%. The ex-dividend date is Friday, January 17th. Revvity’s dividend payout ratio (DPR) is currently 13.53%.

Revvity declared that its Board of Directors has approved a stock repurchase plan on Monday, November 4th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 6.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management 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.