Custom Index Systems LLC Has $728,000 Stake in Revvity, Inc. (NYSE:RVTY)

Custom Index Systems LLC increased its position in Revvity, Inc. (NYSE:RVTY) by 15.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,522 shares of the company’s stock after buying an additional 855 shares during the period. Custom Index Systems LLC’s holdings in Revvity were worth $728,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Caprock Group LLC acquired a new position in shares of Revvity during the 4th quarter worth $229,000. Forsta AP Fonden increased its position in Revvity by 1.1% during the fourth quarter. Forsta AP Fonden now owns 27,300 shares of the company’s stock worth $3,047,000 after buying an additional 300 shares during the last quarter. KBC Group NV raised its holdings in Revvity by 2.6% during the fourth quarter. KBC Group NV now owns 34,522 shares of the company’s stock valued at $3,853,000 after buying an additional 879 shares in the last quarter. Tributary Capital Management LLC lifted its position in shares of Revvity by 45.5% in the fourth quarter. Tributary Capital Management LLC now owns 12,173 shares of the company’s stock worth $1,359,000 after buying an additional 3,808 shares during the last quarter. Finally, Fifth Third Bancorp boosted its stake in shares of Revvity by 9.6% during the 4th quarter. Fifth Third Bancorp now owns 5,362 shares of the company’s stock worth $598,000 after acquiring an additional 469 shares in the last quarter. Institutional investors own 86.65% of the company’s stock.

Wall Street Analysts Forecast Growth

RVTY has been the subject of several analyst reports. TD Cowen boosted their target price on Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Sanford C. Bernstein downgraded 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. Barclays dropped their target price on shares of Revvity from $140.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Leerink Partners upped their price target on shares of Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, Raymond James lowered their price target on Revvity from $146.00 to $140.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 21st. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $132.00.

Revvity Price Performance

Shares of NYSE:RVTY opened at $126.13 on Friday. The firm has a market capitalization of $15.35 billion, a PE ratio of 60.93, a PEG ratio of 4.09 and a beta of 1.03. The company has a current ratio of 3.56, a quick ratio of 2.97 and a debt-to-equity ratio of 0.40. Revvity, Inc. has a 1-year low of $97.32 and a 1-year high of $129.50. The business’s 50 day moving average is $116.60 and its 200-day moving average is $118.60.

Revvity (NYSE:RVTY) last posted its quarterly earnings results on Friday, January 31st. The company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.05. Revvity had a net margin of 9.34% and a return on equity of 7.42%. During the same quarter in the prior year, the company earned $1.25 EPS. Sell-side analysts predict that Revvity, Inc. will post 4.84 earnings per share for the current year.

Revvity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 18th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.22%. Revvity’s payout ratio is currently 13.53%.

Revvity announced that its Board of Directors has authorized a stock buyback program on Monday, November 4th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 6.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other news, insider Tajinder S. Vohra sold 5,492 shares of the company’s stock in a transaction dated 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 approximately $2,295,550.12. This represents a 21.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joel S. Goldberg sold 15,170 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $126.73, for a total transaction of $1,922,494.10. Following the sale, the insider now owns 33,400 shares of the company’s stock, valued at $4,232,782. This trade represents a 31.23 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.60% 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.