Federated Hermes Inc. Cuts Position in Revvity Inc. $RVTY

Federated Hermes Inc. lowered its stake in shares of Revvity Inc. (NYSE:RVTY) by 9.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 213,182 shares of the company’s stock after selling 22,482 shares during the period. Federated Hermes Inc. owned about 0.18% of Revvity worth $20,619,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd increased its holdings in Revvity by 25.3% in the first quarter. Caitong International Asset Management Co. Ltd now owns 694 shares of the company’s stock valued at $73,000 after buying an additional 140 shares in the last quarter. Banque Transatlantique SA grew its holdings in shares of Revvity by 19.4% in the 1st quarter. Banque Transatlantique SA now owns 925 shares of the company’s stock worth $90,000 after acquiring an additional 150 shares during the period. CVA Family Office LLC increased its stake in Revvity by 79.0% in the 2nd quarter. CVA Family Office LLC now owns 410 shares of the company’s stock valued at $40,000 after purchasing an additional 181 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Revvity by 25.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 900 shares of the company’s stock valued at $87,000 after purchasing an additional 185 shares in the last quarter. Finally, Leslie Global Wealth LLC raised its holdings in Revvity by 9.3% during the second quarter. Leslie Global Wealth LLC now owns 2,195 shares of the company’s stock worth $212,000 after purchasing an additional 186 shares during the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on RVTY. Barclays upped their target price on Revvity from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Weiss Ratings reissued a “sell (d)” rating on shares of Revvity in a research note on Monday. Bank of America cut their target price on shares of Revvity from $110.00 to $99.00 and set a “buy” rating for the company in a research report on Monday, September 22nd. Robert W. Baird increased their price target on shares of Revvity from $122.00 to $123.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. Finally, Evercore ISI reissued an “outperform” rating and set a $108.00 price objective on shares of Revvity in a research note on Monday, October 27th. Seven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $113.08.

Revvity Price Performance

Revvity stock opened at $98.85 on Wednesday. The stock has a market capitalization of $11.21 billion, a P/E ratio of 49.67, a P/E/G ratio of 3.30 and a beta of 1.06. Revvity Inc. has a 12-month low of $81.36 and a 12-month high of $128.29. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.75 and a quick ratio of 1.44. The firm’s 50-day moving average is $95.54 and its two-hundred day moving average is $93.12.

Revvity (NYSE:RVTY) last posted 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. Revvity had a net margin of 8.44% and a return on equity of 7.52%. The business had revenue of $698.95 million during the quarter, compared to analyst estimates of $699.75 million. During the same quarter in the previous year, the business posted $1.28 earnings per share. The company’s revenue was up 2.2% on a year-over-year basis. Revvity has set its FY 2025 guidance at 4.900-5.000 EPS. Equities analysts predict that Revvity Inc. will post 4.94 earnings per share for the current year.

Revvity Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a dividend yield of 0.3%. Revvity’s dividend payout ratio (DPR) is 14.07%.

Revvity declared that its board has approved a stock buyback plan on Monday, October 27th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to purchase up to 8.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

Revvity Company 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.