Revvity Inc. $RVTY Stock Holdings Trimmed by State of Michigan Retirement System

State of Michigan Retirement System lowered its holdings in shares of Revvity Inc. (NYSE:RVTY) by 3.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,038 shares of the company’s stock after selling 1,000 shares during the period. State of Michigan Retirement System’s holdings in Revvity were worth $3,099,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. UMB Bank n.a. raised its stake in Revvity by 138.8% during the 2nd quarter. UMB Bank n.a. now owns 406 shares of the company’s stock valued at $39,000 after acquiring an additional 236 shares in the last quarter. CVA Family Office LLC raised its stake in Revvity by 79.0% during the 2nd quarter. CVA Family Office LLC now owns 410 shares of the company’s stock valued at $40,000 after acquiring an additional 181 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in Revvity during the 1st quarter valued at $44,000. Caitong International Asset Management Co. Ltd raised its stake in Revvity by 25.3% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 694 shares of the company’s stock valued at $73,000 after acquiring an additional 140 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC bought a new stake in shares of Revvity in the 1st quarter worth $75,000. Institutional investors own 86.65% of the company’s stock.

Revvity Stock Performance

Shares of NYSE RVTY opened at $92.56 on Thursday. The company has a quick ratio of 2.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $10.74 billion, a price-to-earnings ratio of 46.51, a PEG ratio of 3.15 and a beta of 1.01. The stock’s fifty day simple moving average is $89.83 and its 200 day simple moving average is $92.30. Revvity Inc. has a 52-week low of $81.36 and a 52-week high of $129.50.

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 for the quarter, compared to analysts’ expectations of $699.75 million. During the same period in the previous year, the firm posted $1.28 EPS. The company’s quarterly revenue was up 2.2% on a year-over-year basis. Revvity has set its FY 2025 guidance at 4.900-5.000 EPS. As a group, sell-side analysts forecast that Revvity Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity declared that its Board of Directors has authorized 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 buy up to 8.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Revvity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 6th. Stockholders of record on Friday, January 16th will be issued 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 payout ratio is currently 14.07%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on RVTY shares. Barclays boosted their price objective on Revvity from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Robert W. Baird boosted their price objective on Revvity from $122.00 to $123.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 28th. Stifel Nicolaus dropped their price objective on Revvity from $120.00 to $110.00 and set a “hold” rating on the stock in a research note on Tuesday, July 29th. Evercore ISI reissued an “outperform” rating and issued a $108.00 price objective on shares of Revvity in a research note on Monday, October 27th. Finally, Wall Street Zen downgraded Revvity from a “buy” rating to a “hold” rating in a research note on Sunday, August 3rd. Eight analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.75.

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.