Westside Investment Management Inc. Acquires New Holdings in Revvity Inc. $RVTY

Westside Investment Management Inc. acquired a new stake in shares of Revvity Inc. (NYSE:RVTY) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 15,431 shares of the company’s stock, valued at approximately $2,359,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Kestra Advisory Services LLC grew its position in shares of Revvity by 3.4% during the 3rd quarter. Kestra Advisory Services LLC now owns 10,602 shares of the company’s stock valued at $1,621,000 after purchasing an additional 352 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Revvity by 3.3% in the third quarter. Commonwealth Equity Services LLC now owns 11,491 shares of the company’s stock worth $1,757,000 after purchasing an additional 365 shares during the period. Chicago Partners Investment Group LLC increased its holdings in shares of Revvity by 6.8% in the third quarter. Chicago Partners Investment Group LLC now owns 3,922 shares of the company’s stock worth $623,000 after purchasing an additional 251 shares during the period. Rakuten Investment Management Inc. increased its holdings in shares of Revvity by 8.0% in the third quarter. Rakuten Investment Management Inc. now owns 12,773 shares of the company’s stock worth $1,951,000 after purchasing an additional 945 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of Revvity by 35.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 67,485 shares of the company’s stock worth $10,318,000 after buying an additional 17,629 shares in the last quarter. Institutional investors own 86.65% of the company’s stock.

Revvity Trading Down 5.2%

Shares of RVTY stock opened at $151.12 on Friday. The company has a quick ratio of 1.50, a current ratio of 2.65 and a debt-to-equity ratio of 0.36. The business has a 50-day moving average price of $147.08 and a two-hundred day moving average price of $113.03. Revvity Inc. has a 12-month low of $81.22 and a 12-month high of $171.74. The firm has a market cap of $16.86 billion, a P/E ratio of 66.87, a price-to-earnings-growth ratio of 2.80 and a beta of 1.08.

Revvity (NYSE:RVTY) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.08. The firm had revenue of $728.90 million during the quarter, compared to analysts’ expectations of $694.73 million. Revvity had a return on equity of 8.64% and a net margin of 8.61%. The company’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.18 EPS. Equities analysts anticipate that Revvity Inc. will post 5.42 EPS for the current fiscal year.

Revvity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 12th. Investors of record on Friday, January 22nd will be given a $0.07 dividend. The ex-dividend date is Friday, January 22nd. This represents a $0.28 dividend on an annualized basis and a yield of 0.2%. Revvity’s payout ratio is presently 12.39%.

Insider Buying and Selling

In other Revvity news, insider Tajinder S. Vohra sold 7,330 shares of the stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $140.88, for a total transaction of $1,032,650.40. Following the transaction, the insider directly owned 6,635 shares in the company, valued at $934,738.80. This trade represents a 52.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Maxwell Krakowiak sold 1,631 shares of the stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $144.53, for a total transaction of $235,728.43. Following the transaction, the insider owned 14,781 shares in the company, valued at $2,136,297.93. The trade was a 9.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 9,045 shares of company stock valued at $1,281,439 in the last 90 days. 0.85% of the stock is currently owned by corporate insiders.

Key Revvity News

Here are the key news stories impacting Revvity this week:

• Positive Sentiment: Revvity reported adjusted earnings of $1.38 per share, beating the $1.30 consensus, while revenue of $728.9 million also exceeded expectations and grew 4.3% year over year. Coverage highlighted AI-related demand and operational execution as growth drivers. RVTY Q3 deep dive: AI demand and operational execution drive broad-based growth
• Positive Sentiment: CFRA upgraded the shares from Hold to Buy. TD Cowen also maintained a Buy rating and raised its price target to $185 from $175, while Barclays lifted its target to $175 from $160. TD Cowen recommendations
• Neutral Sentiment: JPMorgan raised its price target to $160 from $155 but kept a Neutral rating. RBC raised its target sharply, to $172 from $135, while retaining Sector Perform. These target increases suggest improved expectations, but the ratings signal caution from some firms. JPMorgan recommendations
• Negative Sentiment: Despite the earnings beat, coverage raised the question of whether the stock is now too expensive. Its elevated valuation could limit upside or make the shares vulnerable to profit-taking after reaching a one-year high. Revvity reaffirms its dividend: Is the stock now too pricey?

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Evercore reissued an “outperform” rating on shares of Revvity in a research note on Wednesday, August 5th. Royal Bank Of Canada boosted their target price on Revvity from $135.00 to $172.00 and gave the stock a “sector perform” rating in a research report on Wednesday. Zacks Research upgraded Revvity from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. KeyCorp upped their target price on Revvity from $125.00 to $165.00 and gave the stock an “overweight” rating in a research note on Friday, September 4th. Finally, Cfra raised Revvity from a “hold” rating to a “buy” rating in a report on Wednesday. Six equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. Based on data from MarketBeat, Revvity currently has an average rating of “Hold” and an average price target of $133.86.

Revvity Profile

Revvity, Inc provides technology, products and services for the life sciences and diagnostics markets. The company supports pharmaceutical and biotechnology research, clinical laboratories and other healthcare organizations with tools used in drug discovery, biological research, disease detection and laboratory testing.

Its offerings include laboratory instruments, reagents, consumables, software and workflow solutions. Key areas include genomics, proteomics, cellular analysis, imaging, screening, automation and reproductive health, as well as newborn screening and other diagnostic applications.