Keene & Associates Inc. Purchases 395 Shares of Revvity, Inc. (NYSE:RVTY)

Keene & Associates Inc. increased its position in Revvity, Inc. (NYSE:RVTY) by 9.2% during the fourth quarter, Holdings Channel reports. The firm owned 4,678 shares of the company’s stock after buying an additional 395 shares during the quarter. Keene & Associates Inc.’s holdings in Revvity were worth $522,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of RVTY. EdgePoint Investment Group Inc. lifted its holdings in Revvity by 34.6% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 2,685,775 shares of the company’s stock valued at $343,108,000 after purchasing an additional 690,534 shares during the last quarter. Southpoint Capital Advisors LP bought a new position in shares of Revvity in the third quarter valued at about $25,550,000. Janus Henderson Group PLC lifted its stake in shares of Revvity by 1.7% during the 3rd quarter. Janus Henderson Group PLC now owns 6,335,302 shares of the company’s stock worth $809,332,000 after buying an additional 108,401 shares during the last quarter. Holocene Advisors LP boosted its holdings in shares of Revvity by 14.6% during the 3rd quarter. Holocene Advisors LP now owns 725,917 shares of the company’s stock worth $92,736,000 after buying an additional 92,240 shares during the period. Finally, Contravisory Investment Management Inc. boosted its holdings in shares of Revvity by 1,715.9% during the 4th quarter. Contravisory Investment Management Inc. now owns 69,186 shares of the company’s stock worth $7,722,000 after buying an additional 65,376 shares during the period. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on RVTY shares. Barclays raised their price objective on shares of Revvity from $135.00 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Bank of America raised Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price target for the company in a report on Friday, December 13th. Robert W. Baird upped their price objective on Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. KeyCorp increased their price objective on Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, TD Cowen boosted their target price on shares of Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Four 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 stock. According to MarketBeat, Revvity presently has a consensus rating of “Moderate Buy” and a consensus target price of $136.25.

Revvity Trading Down 0.6 %

Shares of Revvity stock opened at $111.57 on Wednesday. The company has a quick ratio of 3.03, a current ratio of 3.60 and a debt-to-equity ratio of 0.41. Revvity, Inc. has a 12-month low of $97.32 and a 12-month high of $129.50. The company has a market capitalization of $13.58 billion, a price-to-earnings ratio of 50.48, a PEG ratio of 3.74 and a beta of 1.03. The firm’s 50-day moving average price is $116.99 and its two-hundred day moving average price is $118.81.

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

Revvity Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 18th will be paid a $0.07 dividend. The ex-dividend date is Thursday, April 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.25%. Revvity’s payout ratio is currently 12.67%.

Revvity declared that its board has approved a share 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 purchase up to 6.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at Revvity

In related news, insider Tajinder S. Vohra sold 5,492 shares of the stock in a transaction 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 completion of the sale, the insider now directly owns 19,652 shares in the company, valued at $2,295,550.12. This represents a 21.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joel S. Goldberg sold 15,170 shares of Revvity stock in a transaction dated 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 transaction, the insider now directly owns 33,400 shares in the company, valued at $4,232,782. The trade was a 31.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by insiders.

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.