Bretton Capital Management LLC Purchases New Shares in Revvity, Inc. (NYSE:RVTY)

Bretton Capital Management LLC acquired a new position in Revvity, Inc. (NYSE:RVTY) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 11,000 shares of the company’s stock, valued at approximately $1,405,000. Revvity makes up about 1.3% of Bretton Capital Management LLC’s investment portfolio, making the stock its 20th largest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EdgePoint Investment Group Inc. purchased a new position in shares of Revvity in the 2nd quarter worth about $209,221,000. Jane Street Group LLC grew its position in shares of Revvity by 516.4% during the 1st quarter. Jane Street Group LLC now owns 453,343 shares of the company’s stock valued at $47,601,000 after acquiring an additional 379,802 shares during the period. Janus Henderson Group PLC increased its stake in shares of Revvity by 3.9% during the 1st quarter. Janus Henderson Group PLC now owns 5,664,528 shares of the company’s stock worth $594,769,000 after purchasing an additional 210,100 shares during the last quarter. Magnetar Financial LLC raised its holdings in shares of Revvity by 441.3% in the 1st quarter. Magnetar Financial LLC now owns 136,371 shares of the company’s stock worth $14,319,000 after purchasing an additional 111,178 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in Revvity by 3,171.3% in the second quarter. Assenagon Asset Management S.A. now owns 87,180 shares of the company’s stock valued at $9,142,000 after purchasing an additional 84,515 shares during the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Insider Buying and Selling

In other Revvity news, insider Tajinder S. Vohra sold 2,154 shares of the firm’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 sale, the insider now owns 19,652 shares in the company, valued at $2,392,237.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Tajinder S. Vohra sold 2,153 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $122.09, for a total value of $262,859.77. Following the completion of the sale, the insider now owns 23,960 shares of the company’s stock, valued at approximately $2,925,276.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tajinder S. Vohra sold 2,154 shares of Revvity stock in a transaction on 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 in the company, valued at approximately $2,392,237.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is owned by company insiders.

Revvity Price Performance

Shares of NYSE RVTY opened at $119.74 on Thursday. The stock’s 50-day simple moving average is $121.61 and its two-hundred day simple moving average is $115.19. Revvity, Inc. has a twelve month low of $86.15 and a twelve month high of $129.50. The firm has a market capitalization of $14.57 billion, a P/E ratio of 57.85, a P/E/G ratio of 3.01 and a beta of 1.05. The company has a quick ratio of 2.97, a current ratio of 3.56 and a debt-to-equity ratio of 0.40.

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 company had revenue of $684.10 million for the quarter, compared to analysts’ expectations of $679.66 million. During the same period in the prior year, the business earned $1.18 earnings per share. Revvity’s revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities analysts anticipate that Revvity, Inc. will post 4.85 EPS for the current fiscal year.

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

Revvity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date is Friday, January 17th. Revvity’s dividend payout ratio is currently 13.53%.

Wall Street Analyst Weigh In

RVTY has been the subject of a number of recent research reports. Jefferies Financial Group raised their target price on Revvity from $115.00 to $125.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Robert W. Baird boosted their price objective on Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Citigroup increased their target price on shares of Revvity from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Bank of America boosted their price target on shares of Revvity from $118.00 to $127.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Finally, TD Cowen upped their price target on shares of Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.07.

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.