Venturi Wealth Management LLC Sells 247 Shares of Revvity, Inc. (NYSE:RVTY)

Venturi Wealth Management LLC trimmed its stake in Revvity, Inc. (NYSE:RVTY) by 28.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 634 shares of the company’s stock after selling 247 shares during the quarter. Venturi Wealth Management LLC’s holdings in Revvity were worth $71,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of RVTY. EdgePoint Investment Group Inc. grew its holdings in Revvity by 34.6% in the third quarter. EdgePoint Investment Group Inc. now owns 2,685,775 shares of the company’s stock worth $343,108,000 after purchasing an additional 690,534 shares during the period. Southpoint Capital Advisors LP acquired a new stake in Revvity in the third quarter worth $25,550,000. Janus Henderson Group PLC grew its holdings in Revvity by 1.7% in the third quarter. Janus Henderson Group PLC now owns 6,335,302 shares of the company’s stock worth $809,332,000 after purchasing an additional 108,401 shares during the period. Holocene Advisors LP grew its holdings in Revvity by 14.6% in the third quarter. Holocene Advisors LP now owns 725,917 shares of the company’s stock worth $92,736,000 after purchasing an additional 92,240 shares during the period. Finally, Contravisory Investment Management Inc. grew its holdings in shares of Revvity by 1,715.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 69,186 shares of the company’s stock valued at $7,722,000 after buying an additional 65,376 shares during the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Tajinder S. Vohra sold 5,492 shares of the business’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 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Joel S. Goldberg sold 15,170 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 33,400 shares in the company, valued at approximately $4,232,782. This trade represents a 31.23 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Revvity Stock Performance

Shares of RVTY stock opened at $114.95 on Tuesday. The firm has a market cap of $13.99 billion, a price-to-earnings ratio of 52.01, a P/E/G ratio of 3.82 and a beta of 1.03. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.03 and a current ratio of 3.60. Revvity, Inc. has a 52 week low of $97.32 and a 52 week high of $129.50. The firm’s 50-day simple moving average is $116.76 and its two-hundred day simple moving average is $118.64.

Revvity (NYSE:RVTY) last announced its quarterly earnings data on Friday, January 31st. The company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.37 by $0.05. Revvity had a net margin of 9.81% and a return on equity of 7.68%. During the same period last year, the business earned $1.25 EPS. As a group, equities analysts forecast that Revvity, Inc. will post 4.94 earnings per share for the current year.

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

Revvity Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 0.24%. The ex-dividend date of this dividend is Thursday, April 17th. Revvity’s dividend payout ratio is 12.67%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Robert W. Baird lifted their price objective on shares of Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Sanford C. Bernstein cut shares of Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price objective for the company. in a report on Friday, January 10th. Raymond James reiterated 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. TD Cowen lifted their price objective on shares of Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, KeyCorp lifted their price objective on shares of Revvity from $132.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.