Arcadia Investment Management Corp MI Decreases Stock Position in Revvity Inc. $RVTY

Arcadia Investment Management Corp MI lowered its position in shares of Revvity Inc. (NYSE:RVTY) by 35.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,250 shares of the company’s stock after selling 700 shares during the period. Arcadia Investment Management Corp MI’s holdings in Revvity were worth $121,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in RVTY. New York State Common Retirement Fund boosted its stake in shares of Revvity by 4.7% in the first quarter. New York State Common Retirement Fund now owns 72,911 shares of the company’s stock valued at $7,714,000 after purchasing an additional 3,300 shares during the period. Signaturefd LLC lifted its holdings in Revvity by 9.7% in the 1st quarter. Signaturefd LLC now owns 1,830 shares of the company’s stock worth $194,000 after buying an additional 162 shares in the last quarter. Apollon Wealth Management LLC purchased a new position in Revvity in the 1st quarter valued at about $213,000. Wealthfront Advisers LLC boosted its position in Revvity by 8.9% in the 1st quarter. Wealthfront Advisers LLC now owns 8,988 shares of the company’s stock valued at $951,000 after buying an additional 731 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Revvity by 2.8% during the first quarter. Victory Capital Management Inc. now owns 72,225 shares of the company’s stock valued at $7,641,000 after acquiring an additional 1,975 shares in the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on RVTY shares. Bank of America reduced their price target on Revvity from $110.00 to $99.00 and set a “buy” rating for the company in a report on Monday, September 22nd. Robert W. Baird upped their target price on Revvity from $122.00 to $123.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. Raymond James Financial reiterated an “outperform” rating and set a $115.00 target price (down from $120.00) on shares of Revvity in a research note on Tuesday, July 29th. Stifel Nicolaus dropped their price target 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, Barclays upped their price target on shares of Revvity from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Eight research 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.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $114.75.

Revvity Stock Down 0.8%

Shares of NYSE:RVTY opened at $92.64 on Friday. The company’s fifty day moving average is $90.51 and its two-hundred day moving average is $92.26. 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 1-year low of $81.36 and a 1-year high of $128.29. The stock has a market capitalization of $10.50 billion, a price-to-earnings ratio of 46.55, a price-to-earnings-growth ratio of 3.15 and a beta of 1.01.

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

Revvity announced that its Board of Directors has initiated a stock repurchase program on Monday, October 27th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 8.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Revvity Announces Dividend

The business also recently announced 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 of this dividend is Friday, January 16th. This represents a $0.28 annualized dividend and a dividend yield of 0.3%. Revvity’s dividend payout ratio is 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.