Swiss National Bank Boosts Position in Revvity Inc. $RVTY

Swiss National Bank lifted its stake in shares of Revvity Inc. (NYSE:RVTY) by 5.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 363,700 shares of the company’s stock after acquiring an additional 20,400 shares during the quarter. Swiss National Bank owned approximately 0.31% of Revvity worth $35,177,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. HB Wealth Management LLC lifted its position in Revvity by 4.8% in the first quarter. HB Wealth Management LLC now owns 2,494 shares of the company’s stock worth $264,000 after buying an additional 114 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in Revvity by 25.3% during the first quarter. Caitong International Asset Management Co. Ltd now owns 694 shares of the company’s stock worth $73,000 after buying an additional 140 shares during the period. Banque Transatlantique SA grew its position in shares of Revvity by 19.4% in the 1st quarter. Banque Transatlantique SA now owns 925 shares of the company’s stock worth $90,000 after buying an additional 150 shares during the last quarter. CVA Family Office LLC boosted its position in shares of Revvity by 79.0% in 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 in the last quarter. Finally, Empirical Finance LLC raised its position in shares of Revvity by 4.6% in the 1st quarter. Empirical Finance LLC now owns 4,386 shares of the company’s stock valued at $464,000 after purchasing an additional 192 shares during the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RVTY. Barclays boosted their price objective on shares of Revvity from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Stifel Nicolaus decreased their target price on Revvity from $120.00 to $110.00 and set a “hold” rating for the company in a report on Tuesday, July 29th. Wall Street Zen lowered Revvity from a “buy” rating to a “hold” rating in a research report on Sunday, August 3rd. Evercore ISI reissued an “outperform” rating and set a $108.00 price target on shares of Revvity in a research report on Monday, October 27th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Revvity in a report on Wednesday, November 19th. Eight investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Revvity has an average rating of “Moderate Buy” and a consensus price target of $114.75.

Revvity Trading Up 2.3%

Shares of Revvity stock opened at $100.49 on Tuesday. The firm has a 50-day simple moving average of $91.76 and a two-hundred day simple moving average of $92.34. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.75 and a current ratio of 1.75. Revvity Inc. has a fifty-two week low of $81.36 and a fifty-two week high of $128.29. The company has a market cap of $11.39 billion, a P/E ratio of 50.50, a price-to-earnings-growth ratio of 3.15 and a beta of 1.01.

Revvity (NYSE:RVTY) last issued its quarterly 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. The company had revenue of $698.95 million for the quarter, compared to the consensus estimate of $699.75 million. Revvity had a return on equity of 7.52% and a net margin of 8.44%.Revvity’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.28 earnings per share. Revvity has set its FY 2025 guidance at 4.900-5.000 EPS. As a group, equities analysts predict 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, February 6th. Shareholders of record on Friday, January 16th will be given a dividend of $0.07 per share. The ex-dividend date 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 announced that its Board of Directors has authorized a stock buyback plan on Monday, October 27th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 8.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.