Bretton Capital Management LLC Takes Position in Revvity, Inc. (NYSE:RVTY)

Bretton Capital Management LLC bought a new position in Revvity, Inc. (NYSE:RVTY) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 11,000 shares of the company’s stock, valued at approximately $1,405,000. Revvity accounts for about 1.3% of Bretton Capital Management LLC’s holdings, making the stock its 20th biggest position.

Other hedge funds also recently made changes to their positions in the company. Rothschild Investment LLC bought a new position in Revvity during the 2nd quarter valued at approximately $25,000. EverSource Wealth Advisors LLC raised its holdings in shares of Revvity by 74.2% during the second quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company’s stock valued at $41,000 after acquiring an additional 167 shares in the last quarter. Fairfield Financial Advisors LTD purchased a new stake in Revvity in the second quarter worth $43,000. Family Firm Inc. purchased a new stake in Revvity in the second quarter worth $43,000. Finally, EntryPoint Capital LLC purchased a new position in Revvity during the 1st quarter valued at $48,000. 86.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Revvity Stock Performance

Shares of Revvity stock opened at $119.74 on Thursday. The stock has a market cap of $14.57 billion, a price-to-earnings ratio of 57.85, a PEG ratio of 3.01 and a beta of 1.05. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.56 and a quick ratio of 2.97. Revvity, Inc. has a 1 year low of $86.15 and a 1 year high of $129.50. The firm’s 50-day moving average is $121.61 and its 200 day moving average is $115.19.

Revvity (NYSE:RVTY) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.15. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The firm had revenue of $684.10 million for the quarter, compared to analysts’ expectations of $679.66 million. During the same quarter in the prior year, the company posted $1.18 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. Sell-side analysts anticipate that Revvity, Inc. will post 4.85 EPS for the current fiscal year.

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

Revvity Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Citigroup raised 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. Sanford C. Bernstein lowered their price objective on shares of Revvity from $150.00 to $145.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Leerink Partners upped their target price on Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Raymond James raised their target price on Revvity from $144.00 to $146.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Finally, TD Cowen increased their price objective on Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.07.

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.