Revvity, Inc. (NYSE:RVTY) Shares Acquired by Empowered Funds LLC

Empowered Funds LLC grew its position in shares of Revvity, Inc. (NYSE:RVTY) by 60.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,839 shares of the company’s stock after purchasing an additional 1,066 shares during the quarter. Empowered Funds LLC’s holdings in Revvity were worth $317,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of RVTY. JPMorgan Chase & Co. raised its holdings in Revvity by 13.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 344,115 shares of the company’s stock worth $43,961,000 after buying an additional 41,497 shares during the period. Contravisory Investment Management Inc. grew its stake in Revvity by 1,715.9% in the fourth quarter. Contravisory Investment Management Inc. now owns 69,186 shares of the company’s stock valued at $7,722,000 after purchasing an additional 65,376 shares in the last quarter. Bretton Capital Management LLC acquired a new position in Revvity in the 3rd quarter worth about $1,405,000. FMR LLC raised its stake in shares of Revvity by 40.8% during the 3rd quarter. FMR LLC now owns 155,556 shares of the company’s stock worth $19,872,000 after purchasing an additional 45,040 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of Revvity by 12,674.8% during the 3rd quarter. International Assets Investment Management LLC now owns 13,669 shares of the company’s stock worth $1,746,000 after purchasing an additional 13,562 shares in the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Revvity

In other Revvity news, insider Joel S. Goldberg sold 15,170 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $126.73, for a total value of $1,922,494.10. Following the completion of the transaction, the insider now owns 33,400 shares of the company’s stock, valued at $4,232,782. This represents a 31.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Tajinder S. Vohra sold 5,492 shares of Revvity stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $116.81, for a total value of $641,520.52. Following the sale, the insider now directly owns 19,652 shares in the company, valued at $2,295,550.12. The trade was a 21.84 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. 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. KeyCorp increased their price target on shares of Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Sanford C. Bernstein lowered shares of Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price objective for the company. in a research note on Friday, January 10th. Raymond James reissued an “outperform” rating and set a $145.00 target price (up from $140.00) on shares of Revvity in a research report on Monday, February 3rd. Finally, Robert W. Baird raised their target price on Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $136.25.

Revvity Trading Down 0.4 %

Revvity stock opened at $114.55 on Friday. Revvity, Inc. has a 52 week low of $97.32 and a 52 week high of $129.50. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.03 and a current ratio of 3.60. The firm has a market capitalization of $13.94 billion, a PE ratio of 51.83, a PEG ratio of 3.72 and a beta of 1.03. The business’s 50-day simple moving average is $116.83 and its 200-day simple moving average is $118.70.

Revvity (NYSE:RVTY) last released its earnings results on Friday, January 31st. The company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.05. Revvity had a return on equity of 7.68% and a net margin of 9.81%. During the same period last year, the company posted $1.25 EPS. Equities research analysts forecast that Revvity, Inc. will post 4.94 earnings per share for the current year.

Revvity announced that its Board of Directors has initiated a stock buyback plan on Monday, November 4th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 6.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Revvity Dividend Announcement

The business 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 dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.24%. The ex-dividend date of this dividend is Thursday, April 17th. Revvity’s payout ratio is currently 12.67%.

About Revvity

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.