Aviva PLC Purchases 4,303 Shares of Revvity Inc. $RVTY

Aviva PLC boosted its position in shares of Revvity Inc. (NYSE:RVTY) by 5.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 89,527 shares of the company’s stock after purchasing an additional 4,303 shares during the period. Aviva PLC owned about 0.08% of Revvity worth $8,659,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. UMB Bank n.a. increased its holdings in shares of Revvity by 138.8% during the second quarter. UMB Bank n.a. now owns 406 shares of the company’s stock worth $39,000 after buying an additional 236 shares in the last quarter. CVA Family Office LLC boosted its holdings 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 acquiring an additional 181 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in Revvity during the 1st quarter worth approximately $44,000. Caitong International Asset Management Co. Ltd increased its holdings 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 purchasing an additional 140 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC bought a new position in Revvity in the 1st quarter valued at $75,000. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RVTY. Stifel Nicolaus decreased their target price on Revvity from $120.00 to $110.00 and set a “hold” rating on the stock in a report on Tuesday, July 29th. Raymond James Financial reiterated an “outperform” rating and set a $115.00 price target (down previously from $120.00) on shares of Revvity in a research report on Tuesday, July 29th. Weiss Ratings cut shares of Revvity from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, October 8th. Barclays boosted their target price on shares of Revvity from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Finally, Wall Street Zen lowered shares of Revvity from a “buy” rating to a “hold” rating in a research report on Sunday, August 3rd. Eight equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $114.75.

Revvity Trading Down 0.3%

Shares of NYSE RVTY opened at $94.01 on Thursday. Revvity Inc. has a fifty-two week low of $81.36 and a fifty-two week high of $128.29. The firm has a market capitalization of $10.66 billion, a P/E ratio of 47.24, a P/E/G 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 50 day simple moving average is $90.23 and its 200 day simple moving average is $92.27.

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

Revvity Announces Dividend

The business also recently disclosed 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. This represents a $0.28 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, January 16th. Revvity’s dividend payout ratio is currently 14.07%.

Revvity declared that its Board of Directors has initiated a share buyback program on Monday, October 27th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 8.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management 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.