Envestnet Portfolio Solutions Inc. Buys 1,186 Shares of Revvity, Inc. (NYSE:RVTY)

Envestnet Portfolio Solutions Inc. raised its stake in Revvity, Inc. (NYSE:RVTY) by 40.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,102 shares of the company’s stock after acquiring an additional 1,186 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Revvity were worth $458,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Assetmark Inc. boosted its holdings 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 acquiring an additional 259 shares during the last quarter. Continuum Advisory LLC lifted its position in shares of Revvity by 2,972.7% in the 3rd quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock worth $43,000 after purchasing an additional 327 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in shares of Revvity by 55.9% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock worth $43,000 after purchasing an additional 138 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Revvity by 33.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company’s stock valued at $58,000 after purchasing an additional 131 shares during the last quarter. Finally, Principal Securities Inc. increased its position in shares of Revvity by 54.9% during the fourth quarter. Principal Securities Inc. now owns 598 shares of the company’s stock worth $67,000 after buying an additional 212 shares during the period. Institutional investors and hedge funds own 86.65% of the company’s stock.

Wall Street Analyst Weigh In

RVTY has been the topic of a number of research analyst reports. Bank of America raised shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price target on the stock in a research report on Friday, December 13th. Sanford C. Bernstein cut Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 target price for the company. in a research note on Friday, January 10th. KeyCorp boosted their price target on Revvity from $132.00 to $145.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Barclays raised their price objective on shares of Revvity from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Raymond James reiterated an “outperform” rating and set a $145.00 target price (up previously from $140.00) on shares of Revvity in a research report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Revvity currently has a consensus rating of “Moderate Buy” and an average price target of $136.25.

Revvity Stock Performance

RVTY opened at $107.06 on Wednesday. The company has a market cap of $12.86 billion, a price-to-earnings ratio of 48.44, a PEG ratio of 3.82 and a beta of 1.06. The company’s fifty day moving average price is $115.89 and its two-hundred day moving average price is $117.42. Revvity, Inc. has a 1-year low of $97.32 and a 1-year high of $129.50. The company has a current ratio of 3.60, a quick ratio of 3.03 and a debt-to-equity ratio of 0.41.

Revvity (NYSE:RVTY) last announced its quarterly earnings results on Friday, January 31st. The company reported $1.42 earnings per share for the quarter, beating 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 in the previous year, the business posted $1.25 EPS. On average, analysts expect that Revvity, Inc. will post 4.94 EPS for the current fiscal year.

Revvity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 18th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.26%. Revvity’s payout ratio is 12.67%.

Insider Buying and Selling

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 stock was sold at an average price of $116.81, for a total value of $641,520.52. Following the transaction, the insider now owns 19,652 shares in the company, valued at $2,295,550.12. The trade was a 21.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joel S. Goldberg sold 15,170 shares of the company’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 value of $1,922,494.10. Following the completion of the transaction, the insider now directly owns 33,400 shares of the company’s stock, valued at approximately $4,232,782. This represents a 31.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by corporate insiders.

About Revvity

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.