Revvity Inc. $RVTY Stock Holdings Increased by ProShare Advisors LLC

ProShare Advisors LLC grew its position in shares of Revvity Inc. (NYSE:RVTY) by 2.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,231 shares of the company’s stock after buying an additional 678 shares during the period. ProShare Advisors LLC’s holdings in Revvity were worth $3,117,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in RVTY. Price T Rowe Associates Inc. MD raised its position in shares of Revvity by 25.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,563,911 shares of the company’s stock valued at $1,011,863,000 after acquiring an additional 1,932,314 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its stake in Revvity by 8.5% during the first quarter. T. Rowe Price Investment Management Inc. now owns 22,515,711 shares of the company’s stock valued at $2,382,163,000 after purchasing an additional 1,754,403 shares during the last quarter. EdgePoint Investment Group Inc. raised its holdings in shares of Revvity by 32.1% during the first quarter. EdgePoint Investment Group Inc. now owns 5,360,847 shares of the company’s stock worth $567,178,000 after purchasing an additional 1,302,616 shares during the period. Nuveen LLC acquired a new stake in shares of Revvity during the first quarter worth $28,060,000. Finally, Jennison Associates LLC bought a new position in shares of Revvity in the 1st quarter worth about $27,282,000. 86.65% of the stock is currently owned by institutional investors.

Revvity Stock Performance

Shares of NYSE RVTY opened at $92.64 on Friday. Revvity Inc. has a 12-month low of $81.36 and a 12-month high of $128.29. The company has a market cap of $10.50 billion, a PE ratio of 46.55, a P/E/G ratio of 3.15 and a beta of 1.01. The stock has a 50 day simple moving average of $90.51 and a 200-day simple moving average of $92.26. The company has a current ratio of 1.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.36.

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

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

Revvity Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 6th. Investors of record on Friday, January 16th will be paid a dividend of $0.07 per share. 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 payout ratio is currently 14.07%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Robert W. Baird boosted their price objective 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. Guggenheim assumed coverage on Revvity in a research note on Wednesday, October 15th. They issued a “neutral” rating for the company. Raymond James Financial reiterated an “outperform” rating and set a $115.00 price target (down from $120.00) on shares of Revvity in a research report on Tuesday, July 29th. Stifel Nicolaus reduced their price objective on Revvity from $120.00 to $110.00 and set a “hold” rating for the company in a research report on Tuesday, July 29th. Finally, Bank of America lowered their price objective on Revvity from $110.00 to $99.00 and set a “buy” rating for the company in a research note on Monday, September 22nd. Eight research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.