Empowered Funds LLC Invests $227,000 in Revvity, Inc. (NYSE:RVTY)

Empowered Funds LLC purchased a new stake in Revvity, Inc. (NYSE:RVTY) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,773 shares of the company’s stock, valued at approximately $227,000.

A number of other hedge funds have also added to or reduced their stakes in RVTY. Rothschild Investment LLC bought a new stake in shares of Revvity in the 2nd quarter worth $25,000. EverSource Wealth Advisors LLC increased its stake in Revvity by 74.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company’s stock valued at $41,000 after buying an additional 167 shares during the last quarter. Family Firm Inc. bought a new position in shares of Revvity during the 2nd quarter worth approximately $43,000. Fairfield Financial Advisors LTD purchased a new position in shares of Revvity in the 2nd quarter worth approximately $43,000. Finally, nVerses Capital LLC bought a new position in shares of Revvity in the second quarter valued at approximately $73,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

Revvity Price Performance

Revvity stock opened at $115.14 on Wednesday. The firm has a market capitalization of $14.01 billion, a P/E ratio of 55.62, a PEG ratio of 2.80 and a beta of 1.05. Revvity, Inc. has a one year low of $86.30 and a one year high of $129.50. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.56 and a quick ratio of 2.97. The business has a fifty day moving average price of $120.22 and a 200-day moving average price of $115.89.

Revvity (NYSE:RVTY) last issued its earnings results on Monday, November 4th. The company reported $1.28 EPS for the quarter, topping the consensus estimate of $1.13 by $0.15. Revvity had a return on equity of 7.42% and a net margin of 9.34%. The business had revenue of $684.10 million during the quarter, compared to the consensus estimate of $679.66 million. During the same quarter last year, the company earned $1.18 EPS. The firm’s revenue was up 2.1% compared to the same quarter last year. As a group, equities research analysts forecast that Revvity, Inc. will post 4.85 EPS for the current year.

Revvity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors 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 yield of 0.24%. The ex-dividend date of this dividend is Friday, January 17th. Revvity’s dividend payout ratio (DPR) is presently 13.53%.

Revvity declared that its Board of Directors has approved a stock buyback program on Monday, November 4th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire 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.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RVTY. Wells Fargo & Company assumed coverage on Revvity in a report on Tuesday, August 27th. They set an “equal weight” rating and a $130.00 price target on the stock. Barclays cut their price target on shares of Revvity from $140.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday. Citigroup raised their price objective on shares of Revvity from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Sanford C. Bernstein dropped their target price on shares of Revvity from $150.00 to $145.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Finally, Bank of America increased their target price 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. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $131.73.

Insiders Place Their Bets

In other Revvity news, insider Tajinder S. Vohra sold 2,154 shares of the company’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $121.73, for a total value of $262,206.42. Following the transaction, the insider now directly owns 19,652 shares in the company, valued at $2,392,237.96. This represents a 9.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate 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.