Bessemer Group Inc. Trims Stock Position in Revvity Inc. $RVTY

Bessemer Group Inc. cut its holdings in Revvity Inc. (NYSE:RVTY) by 42.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,739 shares of the company’s stock after selling 6,549 shares during the quarter. Bessemer Group Inc.’s holdings in Revvity were worth $845,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of RVTY. HB Wealth Management LLC grew its holdings in Revvity by 4.8% during the 1st quarter. HB Wealth Management LLC now owns 2,494 shares of the company’s stock valued at $264,000 after buying an additional 114 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of 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 acquiring an additional 140 shares in the last quarter. Banque Transatlantique SA boosted its stake in shares of Revvity by 19.4% during the first quarter. Banque Transatlantique SA now owns 925 shares of the company’s stock valued at $90,000 after acquiring an additional 150 shares during the last quarter. Signaturefd LLC increased its position in Revvity by 9.7% during the 1st quarter. Signaturefd LLC now owns 1,830 shares of the company’s stock worth $194,000 after purchasing an additional 162 shares in the last quarter. Finally, CVA Family Office LLC raised 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 during the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on RVTY. Weiss Ratings cut shares of Revvity from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, October 8th. Bank of America reduced their price objective on shares of Revvity from $110.00 to $99.00 and set a “buy” rating on the stock in a research note on Monday, September 22nd. Stifel Nicolaus lowered their target price 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. Wall Street Zen lowered Revvity from a “buy” rating to a “hold” rating in a research note on Sunday, August 3rd. Finally, Barclays raised their price objective on Revvity from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday. Nine 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.00.

Revvity Stock Performance

NYSE:RVTY opened at $93.68 on Friday. The company has a market cap of $10.87 billion, a P/E ratio of 47.07, a P/E/G ratio of 3.15 and a beta of 0.98. The firm’s 50 day moving average is $89.72 and its two-hundred day moving average is $92.33. Revvity Inc. has a fifty-two week low of $81.36 and a fifty-two week high of $129.50. The company has a quick ratio of 2.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.36.

Revvity (NYSE:RVTY) last announced its quarterly earnings data on Monday, October 27th. The company reported $1.18 earnings per share (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 quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.28 EPS. Revvity has set its FY 2025 guidance at 4.900-5.000 EPS. Analysts expect that Revvity Inc. will post 4.94 EPS for the current year.

Revvity Dividend Announcement

The company 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 $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend 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 of Directors has initiated a share buyback program on Monday, October 27th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to buy up to 8.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board 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.