Universal Beteiligungs und Servicegesellschaft mbH Sells 24,911 Shares of Revvity Inc. $RVTY

Universal Beteiligungs und Servicegesellschaft mbH cut its position in Revvity Inc. (NYSE:RVTY) by 21.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 90,911 shares of the company’s stock after selling 24,911 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.08% of Revvity worth $7,968,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of RVTY. Amundi raised its holdings in Revvity by 157.0% during the second quarter. Amundi now owns 519,987 shares of the company’s stock valued at $52,467,000 after acquiring an additional 317,643 shares during the period. Invesco Ltd. grew its position in shares of Revvity by 25.8% during the second quarter. Invesco Ltd. now owns 2,207,202 shares of the company’s stock worth $213,481,000 after purchasing an additional 452,343 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Revvity during the third quarter worth about $905,000. SG Americas Securities LLC raised its stake in Revvity by 531.8% during the 3rd quarter. SG Americas Securities LLC now owns 42,947 shares of the company’s stock valued at $3,764,000 after purchasing an additional 36,149 shares during the period. Finally, Korea Investment CORP lifted its holdings in Revvity by 61.7% in the 2nd quarter. Korea Investment CORP now owns 71,265 shares of the company’s stock worth $6,893,000 after purchasing an additional 27,200 shares in the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Revvity Price Performance

Revvity stock opened at $116.64 on Monday. Revvity Inc. has a 52-week low of $81.36 and a 52-week high of $128.29. The company has a quick ratio of 1.44, a current ratio of 1.75 and a debt-to-equity ratio of 0.36. The firm’s fifty day moving average is $102.18 and its 200 day moving average is $94.99. The company has a market cap of $13.22 billion, a price-to-earnings ratio of 58.61, a PEG ratio of 3.56 and a beta of 1.05.

Revvity (NYSE:RVTY) last issued its quarterly earnings data on Monday, October 27th. The company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. The business 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 was up 2.2% on a year-over-year basis. During the same period last year, the company posted $1.28 EPS. Sell-side analysts forecast that Revvity Inc. will post 4.94 EPS for the current fiscal year.

Revvity announced that its Board of Directors has authorized a stock 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 purchase up to 8.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on RVTY shares. Wells Fargo & Company increased their price objective on shares of Revvity from $102.00 to $107.00 and gave the company an “equal weight” rating in a report on Monday, December 15th. The Goldman Sachs Group began coverage on shares of Revvity in a research report on Tuesday, December 9th. They set a “neutral” rating and a $105.00 target price for the company. Evercore ISI reaffirmed an “outperform” rating on shares of Revvity in a research note on Monday, January 5th. Bank of America downgraded shares of Revvity from a “buy” rating to a “neutral” rating and set a $110.00 price target on the stock. in a report on Monday, December 15th. Finally, Barclays increased their price objective on shares of Revvity from $105.00 to $115.00 and gave the company an “overweight” rating in a report on Monday, December 15th. Six analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Revvity has an average rating of “Hold” and a consensus price target of $113.91.

Revvity Company Profile

Revvity, Inc is a global provider of technology-enabled solutions for the life sciences, diagnostics and applied markets. The company develops and supplies a range of products and services, including reagents and consumables, laboratory instruments, workflow automation, software analytics and technical support. Its portfolio supports applications in drug discovery, genomics, cell biology research, environmental and food safety testing, industrial quality control and clinical diagnostics.

Tracing its heritage to Perkin-Elmer, founded in 1937, Revvity began trading on the New York Stock Exchange under the ticker symbol RVTY in January 2024 following a corporate rebranding.