Metis Global Partners LLC Sells 808 Shares of Revvity Inc. $RVTY

Metis Global Partners LLC lessened its position in Revvity Inc. (NYSE:RVTY) by 8.7% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 8,511 shares of the company’s stock after selling 808 shares during the period. Metis Global Partners LLC’s holdings in Revvity were worth $823,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. UMB Bank n.a. boosted its holdings in Revvity by 138.8% during the second quarter. UMB Bank n.a. now owns 406 shares of the company’s stock valued at $39,000 after acquiring an additional 236 shares during the period. CVA Family Office LLC lifted its position in shares of Revvity by 79.0% during the 2nd quarter. CVA Family Office LLC now owns 410 shares of the company’s stock worth $40,000 after purchasing an additional 181 shares during the last quarter. New Age Alpha Advisors LLC bought a new stake in Revvity during the 1st quarter valued at approximately $44,000. Caitong International Asset Management Co. Ltd grew its holdings in Revvity by 25.3% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 694 shares of the company’s stock valued at $73,000 after buying an additional 140 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC bought a new position in Revvity in the 1st quarter worth approximately $75,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on RVTY shares. Raymond James Financial reissued an “outperform” rating and issued a $115.00 price objective (down from $120.00) on shares of Revvity in a research report on Tuesday, July 29th. Robert W. Baird increased their price target on shares of Revvity from $122.00 to $123.00 and gave the company an “outperform” rating in a report on Tuesday, October 28th. Evercore ISI restated an “outperform” rating and set a $108.00 price objective on shares of Revvity in a report on Monday, October 27th. Stifel Nicolaus cut their price objective on shares of Revvity from $120.00 to $110.00 and set a “hold” rating for the company in a research report on Tuesday, July 29th. Finally, Weiss Ratings downgraded Revvity from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $114.75.

Revvity Trading Up 2.3%

Shares of Revvity stock opened at $94.39 on Wednesday. Revvity Inc. has a 52-week low of $81.36 and a 52-week high of $128.29. The firm has a market capitalization of $10.70 billion, a PE ratio of 47.43, a price-to-earnings-growth ratio of 3.15 and a beta of 1.01. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.75 and a quick ratio of 2.75. The company’s fifty day moving average price is $90.02 and its two-hundred day moving average price is $92.26.

Revvity (NYSE:RVTY) last issued its earnings results on Monday, October 27th. The company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. Revvity had a return on equity of 7.52% and a net margin of 8.44%.The business had revenue of $698.95 million during the quarter, compared to analysts’ expectations of $699.75 million. During the same period in the prior year, the firm posted $1.28 EPS. Revvity’s quarterly revenue was up 2.2% compared to the same quarter last year. Revvity has set its FY 2025 guidance at 4.900-5.000 EPS. On average, analysts expect that Revvity Inc. will post 4.94 EPS for the current year.

Revvity declared that its board has initiated a share repurchase plan on Monday, October 27th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 8.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Revvity Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 6th. Investors of record on Friday, January 16th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Friday, January 16th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.3%. Revvity’s dividend payout ratio (DPR) is currently 14.07%.

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.