Huntington National Bank Acquires 207 Shares of Revvity, Inc. (NYSE:RVTY)

Huntington National Bank increased its stake in Revvity, Inc. (NYSE:RVTY) by 19.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,268 shares of the company’s stock after acquiring an additional 207 shares during the quarter. Huntington National Bank’s holdings in Revvity were worth $142,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Assetmark Inc. increased its stake in Revvity by 3,700.0% in the fourth quarter. Assetmark Inc. now owns 266 shares of the company’s stock valued at $30,000 after purchasing an additional 259 shares in the last quarter. Millstone Evans Group LLC acquired a new position in Revvity during the 4th quarter worth approximately $38,000. Continuum Advisory LLC boosted its holdings in Revvity by 2,972.7% in the third quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock worth $43,000 after acquiring an additional 327 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in Revvity by 55.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock worth $43,000 after acquiring an additional 138 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in Revvity by 33.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company’s stock valued at $58,000 after acquiring an additional 131 shares during the period. Institutional investors and hedge funds own 86.65% of the company’s stock.

Revvity Stock Performance

RVTY stock opened at $94.79 on Friday. The company has a quick ratio of 3.03, a current ratio of 3.60 and a debt-to-equity ratio of 0.41. The firm has a market cap of $11.39 billion, a PE ratio of 42.89, a P/E/G ratio of 3.82 and a beta of 1.07. The business has a 50 day moving average of $113.18 and a 200-day moving average of $116.49. Revvity, Inc. has a 12-month low of $93.54 and a 12-month high of $129.50.

Revvity (NYSE:RVTY) last announced its earnings results on Friday, January 31st. The company reported $1.42 earnings per share (EPS) for the quarter, beating 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 last year, the firm posted $1.25 earnings per share. As a group, sell-side analysts expect that Revvity, Inc. will post 4.94 earnings per share for the current year.

Revvity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 18th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend is Thursday, April 17th. Revvity’s dividend payout ratio is currently 12.67%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on RVTY. Barclays upped their target price on Revvity from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. KeyCorp raised their price objective on shares of Revvity from $132.00 to $145.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Bank of America raised shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 target price for the company in a research report on Friday, December 13th. Sanford C. Bernstein cut shares of Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price target on the stock. in a research report on Friday, January 10th. Finally, Raymond James reissued an “outperform” rating and set a $145.00 price objective (up from $140.00) on shares of Revvity in a report on Monday, February 3rd. Four research 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $136.25.

Insider Buying and Selling at Revvity

In related news, insider Tajinder S. Vohra sold 5,492 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 19,652 shares of the company’s stock, valued at approximately $2,295,550.12. This trade represents a 21.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Joel S. Goldberg sold 15,170 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $126.73, for a total transaction of $1,922,494.10. Following the sale, the insider now directly owns 33,400 shares in the company, valued at $4,232,782. The trade was a 31.23 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.

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.