Trust Point Inc. Invests $513,000 in Revvity, Inc. (NYSE:RVTY)

Trust Point Inc. acquired a new position in Revvity, Inc. (NYSE:RVTY) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 4,594 shares of the company’s stock, valued at approximately $513,000.

A number of other large investors have also recently made changes to their positions in the business. Tokio Marine Asset Management Co. Ltd. grew its position in shares of Revvity by 6.6% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,202 shares of the company’s stock worth $469,000 after buying an additional 260 shares during the last quarter. Custom Index Systems LLC grew its position in shares of Revvity by 15.1% in the 4th quarter. Custom Index Systems LLC now owns 6,522 shares of the company’s stock worth $728,000 after buying an additional 855 shares during the last quarter. Caprock Group LLC bought a new stake in shares of Revvity in the 4th quarter worth approximately $229,000. Forsta AP Fonden lifted its stake in shares of Revvity by 1.1% in the 4th quarter. Forsta AP Fonden now owns 27,300 shares of the company’s stock valued at $3,047,000 after purchasing an additional 300 shares during the period. Finally, KBC Group NV lifted its stake in shares of Revvity by 2.6% in the 4th quarter. KBC Group NV now owns 34,522 shares of the company’s stock valued at $3,853,000 after purchasing an additional 879 shares during the period. 86.65% of the stock is currently owned by institutional investors.

Insider Transactions at Revvity

In related news, insider Tajinder S. Vohra sold 5,492 shares of Revvity stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $116.81, for a total value of $641,520.52. Following the completion of the sale, the insider now owns 19,652 shares of the company’s stock, valued at $2,295,550.12. The trade was a 21.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Joel S. Goldberg sold 15,170 shares of Revvity 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 sale, 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 position. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.

Revvity Stock Down 0.6 %

RVTY stock opened at $122.47 on Thursday. Revvity, Inc. has a 1-year low of $97.32 and a 1-year high of $129.50. The business has a fifty day moving average price of $117.22 and a 200-day moving average price of $119.00. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.60 and a quick ratio of 3.03. The stock has a market capitalization of $14.90 billion, a P/E ratio of 55.42, a P/E/G ratio of 4.17 and a beta of 1.03.

Revvity (NYSE:RVTY) last posted its quarterly earnings results on Friday, January 31st. The company reported $1.42 earnings per share 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 period in the previous year, the company earned $1.25 earnings per share. Equities analysts forecast that Revvity, Inc. will post 4.97 earnings per share for the current fiscal year.

Revvity announced that its board has initiated a stock buyback plan on Monday, November 4th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to buy up to 6.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Revvity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 18th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend is Thursday, April 17th. Revvity’s dividend payout ratio is currently 12.67%.

Analyst Upgrades and Downgrades

RVTY has been the subject of a number of research analyst reports. 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. Barclays raised their target price on Revvity from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday. Bank of America upgraded Revvity from a “neutral” rating to a “buy” rating and set a $138.00 target price for the company in a research note on Friday, December 13th. TD Cowen raised their target price 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 raised their target price on Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $136.25.

Revvity 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.