Orion Portfolio Solutions LLC Has $606,000 Holdings in Revvity, Inc. (NYSE:RVTY)

Orion Portfolio Solutions LLC grew its holdings in Revvity, Inc. (NYSE:RVTY) by 51.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,746 shares of the company’s stock after purchasing an additional 1,616 shares during the period. Orion Portfolio Solutions LLC’s holdings in Revvity were worth $606,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RVTY. Wealth Enhancement Advisory Services LLC increased its holdings in Revvity by 35.1% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,246 shares of the company’s stock worth $340,000 after buying an additional 844 shares during the last quarter. Blue Trust Inc. increased its holdings in Revvity by 24.3% during the second quarter. Blue Trust Inc. now owns 1,124 shares of the company’s stock worth $118,000 after buying an additional 220 shares during the last quarter. Arcus Capital Partners LLC acquired a new position in Revvity during the second quarter worth $790,000. Family Firm Inc. acquired a new position in Revvity during the second quarter worth $43,000. Finally, Ceredex Value Advisors LLC increased its holdings in Revvity by 2.2% during the second quarter. Ceredex Value Advisors LLC now owns 1,094,938 shares of the company’s stock worth $114,815,000 after buying an additional 23,318 shares during the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Revvity Trading Down 0.4 %

Shares of Revvity stock opened at $114.75 on Wednesday. Revvity, Inc. has a 52-week low of $97.32 and a 52-week high of $129.50. The firm has a 50-day moving average of $117.80 and a 200-day moving average of $116.53. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.97 and a current ratio of 3.56. The stock has a market cap of $13.97 billion, a PE ratio of 55.43, a PEG ratio of 3.59 and a beta of 1.03.

Revvity (NYSE:RVTY) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.15. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The business had revenue of $684.10 million during the quarter, compared to analysts’ expectations of $679.66 million. During the same quarter in the prior year, the business posted $1.18 earnings per share. Revvity’s revenue was up 2.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Revvity, Inc. will post 4.85 EPS for the current year.

Revvity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, January 17th. This represents a $0.28 annualized dividend and a yield of 0.24%. Revvity’s dividend payout ratio is 13.53%.

Revvity declared that its Board of Directors has approved a stock buyback program on Monday, November 4th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 6.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts recently weighed in on RVTY shares. Sanford C. Bernstein lowered their target price on shares of Revvity from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Leerink Partners lifted their price objective on shares of Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. TD Cowen lifted their price objective on shares of Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Bank of America raised shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price objective for the company in a research report on Friday, December 13th. Finally, Wells Fargo & Company assumed coverage on shares of Revvity in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $130.00 price objective for the company. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Revvity has a consensus rating of “Moderate Buy” and a consensus price target of $132.47.

Insider Buying and Selling

In other Revvity news, insider Tajinder S. Vohra sold 2,154 shares of the business’s stock in a transaction dated 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 owns 19,652 shares of the company’s stock, valued at approximately $2,392,237.96. The trade was a 9.88 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.60% of the stock is currently owned by company insiders.

Revvity Company 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.