Kornitzer Capital Management Inc. KS Invests $233,000 in Revvity, Inc. (NYSE:RVTY)

Kornitzer Capital Management Inc. KS acquired a new stake in shares of Revvity, Inc. (NYSE:RVTY) during the third quarter, Holdings Channel.com reports. The fund acquired 1,820 shares of the company’s stock, valued at approximately $233,000.

Several other large investors have also recently added to or reduced their stakes in RVTY. Rothschild Investment LLC purchased a new stake in shares of Revvity during the 2nd quarter worth about $25,000. EverSource Wealth Advisors LLC raised its position in 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. Family Firm Inc. acquired a new stake in Revvity in the second quarter valued at approximately $43,000. Fairfield Financial Advisors LTD bought a new stake in Revvity in the second quarter worth approximately $43,000. Finally, EntryPoint Capital LLC acquired a new position in shares of Revvity during the 1st quarter worth $48,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

Insider Buying and Selling at Revvity

In other news, insider Tajinder S. Vohra sold 2,154 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total transaction of $262,206.42. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Tajinder S. Vohra sold 2,154 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $121.73, for a total value of $262,206.42. Following the completion of the transaction, the insider now directly owns 19,652 shares of the company’s stock, valued at approximately $2,392,237.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Tajinder S. Vohra sold 2,153 shares of the business’s stock in a transaction on Monday, October 7th. The shares were 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 represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on RVTY shares. Robert W. Baird lifted their price objective on shares of Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a research note on Tuesday. Wells Fargo & Company initiated coverage on Revvity in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $130.00 price target for the company. Citigroup raised their price objective on Revvity from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Sanford C. Bernstein decreased their target price on Revvity from $150.00 to $145.00 and set an “outperform” rating for the company in a research report on Tuesday. Finally, Jefferies Financial Group increased their price target on Revvity from $115.00 to $125.00 and gave the company a “hold” rating in a report on Monday, July 29th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.07.

Revvity Stock Down 1.2 %

Shares of RVTY opened at $122.48 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.98 and a current ratio of 3.56. The company has a 50-day simple moving average of $121.64 and a 200-day simple moving average of $114.76. Revvity, Inc. has a 52 week low of $82.17 and a 52 week high of $129.50. The firm has a market capitalization of $15.11 billion, a P/E ratio of 59.17, a P/E/G ratio of 3.44 and a beta of 1.05.

Revvity (NYSE:RVTY) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.28 EPS for the quarter, beating 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 firm had revenue of $684.10 million during the quarter, compared to analysts’ expectations of $679.66 million. During the same quarter in the prior year, the firm posted $1.18 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities research analysts expect that Revvity, Inc. will post 4.75 earnings per share for the current year.

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

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. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.23%. Revvity’s dividend payout ratio is currently 13.53%.

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.