Bretton Capital Management LLC Invests $1.41 Million in Revvity, Inc. (NYSE:RVTY)

Bretton Capital Management LLC bought a new stake in Revvity, Inc. (NYSE:RVTY - Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 11,000 shares of the company's stock, valued at approximately $1,405,000. Revvity makes up 1.3% of Bretton Capital Management LLC's investment portfolio, making the stock its 20th biggest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Rothschild Investment LLC acquired a new stake in shares of Revvity during the second quarter worth $25,000. EverSource Wealth Advisors LLC increased its position 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 in the last quarter. Fairfield Financial Advisors LTD acquired a new position in Revvity during the second quarter worth $43,000. Family Firm Inc. bought a new position in shares of Revvity in the second quarter valued at $43,000. Finally, EntryPoint Capital LLC acquired a new position in shares of Revvity during the first quarter valued at about $48,000. Institutional investors own 86.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on RVTY shares. Leerink Partners increased their price objective on Revvity from $130.00 to $135.00 and gave the stock an "outperform" rating in a research note on Thursday, October 17th. Citigroup boosted their target price on Revvity from $135.00 to $145.00 and gave the stock a "buy" rating in a research note on Tuesday, July 30th. Bank of America lifted their price target on Revvity from $118.00 to $127.00 and gave the stock a "neutral" rating in a report on Tuesday, July 30th. Wells Fargo & Company began coverage on shares of Revvity in a report on Tuesday, August 27th. They issued an "equal weight" rating and a $130.00 price target on the stock. Finally, Raymond James lifted their price objective on shares of Revvity from $144.00 to $146.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 5th. Seven 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, Revvity has a consensus rating of "Moderate Buy" and an average target price of $132.07.

Insider Transactions at Revvity

In other Revvity news, insider Tajinder S. Vohra sold 2,153 shares of Revvity stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $122.09, for a total value of $262,859.77. Following the transaction, the insider now directly owns 23,960 shares of the company's stock, valued at $2,925,276.40. The trade was a 8.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.60% of the company's stock.

Revvity Price Performance

Shares of RVTY stock traded down $3.69 during trading on Thursday, hitting $116.05. The company had a trading volume of 732,312 shares, compared to its average volume of 830,216. The stock's 50-day moving average is $121.65 and its two-hundred day moving average is $115.22. The stock has a market capitalization of $14.12 billion, a price-to-earnings ratio of 57.85, a price-to-earnings-growth 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, Inc. has a 52 week low of $86.30 and a 52 week high of $129.50.

Revvity (NYSE:RVTY - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported $1.28 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $679.66 million. During the same period in the previous year, the business earned $1.18 earnings per share. The firm's quarterly revenue was up 2.1% compared to the same quarter last year. As a group, analysts predict that Revvity, Inc. will post 4.85 EPS for the current fiscal year.

Revvity Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.24%. The ex-dividend date is Friday, January 17th. Revvity's dividend payout ratio (DPR) is presently 13.53%.

Revvity announced that its board has approved a share buyback plan on Monday, November 4th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to repurchase up to 6.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company's leadership believes its stock is undervalued.

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.