Fifth Third Bancorp Acquires 755 Shares of Revvity Inc. $RVTY

Fifth Third Bancorp increased its holdings in shares of Revvity Inc. (NYSE:RVTY) by 14.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,099 shares of the company’s stock after purchasing an additional 755 shares during the period. Fifth Third Bancorp’s holdings in Revvity were worth $590,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. UMB Bank n.a. boosted its stake in shares of 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 purchasing an additional 236 shares in the last quarter. New Age Alpha Advisors LLC bought a new position in shares of Revvity during the first quarter valued at approximately $44,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Revvity by 25.3% during the first quarter. Caitong International Asset Management Co. Ltd now owns 694 shares of the company’s stock valued at $73,000 after purchasing an additional 140 shares in the last quarter. Cary Street Partners Investment Advisory LLC bought a new position in shares of Revvity during the first quarter valued at approximately $75,000. Finally, Parallel Advisors LLC boosted its stake in shares of Revvity by 26.3% during the first quarter. Parallel Advisors LLC now owns 777 shares of the company’s stock valued at $82,000 after purchasing an additional 162 shares in the last quarter. 86.65% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RVTY has been the subject of several recent analyst reports. Raymond James Financial restated an “outperform” rating and issued a $115.00 target price (down from $120.00) on shares of Revvity in a research note on Tuesday, July 29th. Evercore ISI lowered their target price on shares of Revvity from $116.00 to $115.00 and set an “outperform” rating for the company in a research note on Tuesday, July 8th. Bank of America lowered their target price on shares of Revvity from $110.00 to $99.00 and set a “buy” rating for the company in a research note on Monday, September 22nd. Stifel Nicolaus lowered their target price on shares of Revvity from $120.00 to $110.00 and set a “hold” rating for the company in a research note on Tuesday, July 29th. Finally, Wall Street Zen downgraded shares of Revvity from a “buy” rating to a “hold” rating in a research note on Sunday, August 3rd. Ten equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Revvity has a consensus rating of “Moderate Buy” and a consensus target price of $119.29.

Revvity Trading Up 0.2%

NYSE RVTY opened at $84.23 on Tuesday. The company has a fifty day simple moving average of $88.81 and a two-hundred day simple moving average of $93.84. The stock has a market cap of $9.78 billion, a P/E ratio of 35.69, a P/E/G ratio of 2.81 and a beta of 0.94. Revvity Inc. has a 12-month low of $81.36 and a 12-month high of $129.50. The company has a current ratio of 3.33, a quick ratio of 2.75 and a debt-to-equity ratio of 0.43.

Revvity (NYSE:RVTY) last posted its earnings results on Monday, July 28th. The company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. The company had revenue of $720.28 million during the quarter, compared to the consensus estimate of $711.26 million. Revvity had a net margin of 10.19% and a return on equity of 7.66%. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.22 earnings per share. Revvity has set its FY 2025 guidance at 4.850-4.950 EPS. On average, analysts forecast that Revvity Inc. will post 4.94 earnings per share for the current year.

Revvity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, October 17th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, October 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.3%. Revvity’s payout ratio is currently 11.86%.

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.