Revvity Inc. $RVTY Position Reduced by 2Xideas AG

2Xideas AG reduced its position in Revvity Inc. (NYSE:RVTY) by 75.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,421 shares of the company’s stock after selling 65,361 shares during the period. 2Xideas AG’s holdings in Revvity were worth $2,072,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in RVTY. Lombard Odier Asset Management USA Corp acquired a new position in Revvity in the 2nd quarter worth approximately $279,000. Daiwa Securities Group Inc. lifted its holdings in shares of Revvity by 35.1% in the second quarter. Daiwa Securities Group Inc. now owns 34,234 shares of the company’s stock valued at $3,311,000 after purchasing an additional 8,903 shares in the last quarter. Ossiam boosted its position in shares of Revvity by 10.0% in the second quarter. Ossiam now owns 7,569 shares of the company’s stock worth $732,000 after buying an additional 688 shares during the period. Bollard Group LLC purchased a new position in shares of Revvity during the second quarter valued at $1,783,000. Finally, California Public Employees Retirement System grew its holdings in shares of Revvity by 1.4% during the second quarter. California Public Employees Retirement System now owns 244,744 shares of the company’s stock valued at $23,672,000 after buying an additional 3,425 shares in the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Revvity Trading Down 1.1%

Shares of NYSE RVTY opened at $99.70 on Tuesday. The business has a 50 day simple moving average of $95.32 and a 200 day simple moving average of $93.05. Revvity Inc. has a 52 week low of $81.36 and a 52 week high of $128.29. The stock has a market cap of $11.30 billion, a price-to-earnings ratio of 50.10, a PEG ratio of 3.33 and a beta of 1.06. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 1.75.

Revvity (NYSE:RVTY) last posted its earnings results on Monday, October 27th. The company reported $1.18 EPS for the quarter, topping the consensus estimate of $1.14 by $0.04. The company 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 period in the previous year, the firm posted $1.28 earnings per share. Revvity has set its FY 2025 guidance at 4.900-5.000 EPS. On average, research analysts predict that Revvity Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 6th. Shareholders of record on Friday, January 16th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, January 16th. Revvity’s dividend payout ratio (DPR) is 14.07%.

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RVTY. Weiss Ratings reissued a “sell (d)” rating on shares of Revvity in a research note on Monday, December 1st. Evercore ISI reiterated an “outperform” rating and issued a $108.00 target price on shares of Revvity in a report on Monday, October 27th. Robert W. Baird raised their price target on shares of Revvity from $122.00 to $123.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. Bank of America lowered their price objective on shares of Revvity from $110.00 to $99.00 and set a “buy” rating on the stock in a research report on Monday, September 22nd. Finally, Barclays upped their price objective on shares of Revvity from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Tuesday, October 28th. Eight investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.