Eastern Bank Acquires Shares of 623 Revvity, Inc. (NYSE:RVTY)

Eastern Bank acquired a new stake in shares of Revvity, Inc. (NYSE:RVTY) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 623 shares of the company’s stock, valued at approximately $80,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rothschild Investment LLC purchased a new position in Revvity during the second quarter valued at $25,000. EverSource Wealth Advisors LLC lifted its position in Revvity by 74.2% during the second 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 period. Fairfield Financial Advisors LTD purchased a new position in Revvity during the second quarter valued at $43,000. Family Firm Inc. bought a new position in shares of Revvity during the second quarter valued at $43,000. Finally, EntryPoint Capital LLC bought a new position in shares of Revvity during the first quarter valued at $48,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Revvity Trading Up 0.2 %

Shares of NYSE:RVTY opened at $116.33 on Friday. The stock has a market capitalization of $14.35 billion, a price-to-earnings ratio of 96.14, a PEG ratio of 3.35 and a beta of 1.05. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.98 and a current ratio of 2.27. The stock’s 50-day simple moving average is $121.51 and its two-hundred day simple moving average is $113.49. Revvity, Inc. has a 52-week low of $79.50 and a 52-week high of $128.15.

Revvity (NYSE:RVTY) last announced its earnings results on Monday, July 29th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.10. The business had revenue of $691.70 million for the quarter, compared to analysts’ expectations of $690.33 million. Revvity had a return on equity of 7.34% and a net margin of 6.26%. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period last year, the firm posted $1.21 earnings per share. Analysts expect that Revvity, Inc. will post 4.75 EPS for the current year.

Revvity Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.24%. Revvity’s payout ratio is currently 23.14%.

Insider Activity

In other news, insider Tajinder S. Vohra sold 2,153 shares of Revvity 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 directly owns 23,960 shares of the company’s stock, valued at $2,925,276.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Tajinder S. Vohra sold 2,153 shares of Revvity 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 directly owns 23,960 shares of the company’s stock, valued at $2,925,276.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joel S. Goldberg sold 3,500 shares of Revvity stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $117.86, for a total value of $412,510.00. Following the transaction, the insider now directly owns 33,400 shares in the company, valued at approximately $3,936,524. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,807 shares of company stock valued at $937,576 in the last ninety days. Corporate insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

RVTY has been the subject of several analyst reports. Jefferies Financial Group raised their price target on Revvity from $115.00 to $125.00 and gave the company a “hold” rating in a report on Monday, July 29th. Leerink Partners raised their price target on Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Citigroup raised their price target on Revvity from $135.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Bank of America raised their price target on Revvity from $118.00 to $127.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Finally, TD Cowen raised their price target on Revvity from $130.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $127.20.

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.