EdgePoint Investment Group Inc. Boosts Stock Position in Revvity Inc. $RVTY

EdgePoint Investment Group Inc. raised its holdings in shares of Revvity Inc. (NYSE:RVTY) by 26.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,789,660 shares of the company’s stock after purchasing an additional 1,428,813 shares during the quarter. Revvity makes up 5.0% of EdgePoint Investment Group Inc.’s holdings, making the stock its 9th biggest position. EdgePoint Investment Group Inc. owned about 5.85% of Revvity worth $656,696,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. UMB Bank n.a. lifted its stake in shares of Revvity by 138.8% during the 2nd quarter. UMB Bank n.a. now owns 406 shares of the company’s stock worth $39,000 after buying an additional 236 shares during the last quarter. CVA Family Office LLC raised its holdings 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 acquiring an additional 181 shares during the period. Caitong International Asset Management Co. Ltd lifted its position in Revvity by 25.3% during the first quarter. Caitong International Asset Management Co. Ltd now owns 694 shares of the company’s stock worth $73,000 after acquiring an additional 140 shares during the last quarter. Kilter Group LLC bought a new stake in shares of Revvity during the second quarter worth approximately $80,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Revvity by 25.9% in the second quarter. EverSource Wealth Advisors LLC now owns 900 shares of the company’s stock valued at $87,000 after purchasing an additional 185 shares during the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Revvity Trading Down 3.3%

RVTY opened at $100.53 on Friday. The stock has a market capitalization of $11.40 billion, a price-to-earnings ratio of 50.52, a P/E/G ratio of 3.43 and a beta of 1.06. The company has a quick ratio of 1.44, a current ratio of 1.75 and a debt-to-equity ratio of 0.36. Revvity Inc. has a twelve month low of $81.36 and a twelve month high of $128.29. The company has a 50-day simple moving average of $96.15 and a 200 day simple moving average of $93.34.

Revvity (NYSE:RVTY) last released its earnings results on Monday, October 27th. The company reported $1.18 EPS for the quarter, beating the consensus estimate of $1.14 by $0.04. Revvity had a net margin of 8.44% and a return on equity of 7.52%. The firm had revenue of $698.95 million for the quarter, compared to analyst estimates of $699.75 million. During the same period last year, the firm earned $1.28 EPS. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. Revvity has set its FY 2025 guidance at 4.900-5.000 EPS. Analysts predict that Revvity Inc. will post 4.94 EPS for the current fiscal year.

Revvity announced that its Board of Directors has authorized a share buyback plan on Monday, October 27th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 8.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Revvity Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 6th. Shareholders of record on Friday, January 16th will be given 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 payout ratio is currently 14.07%.

Analyst Ratings Changes

Several research firms recently weighed in on RVTY. Barclays lifted their price target on Revvity from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Guggenheim began coverage on shares of Revvity in a research report on Wednesday, October 15th. They issued a “neutral” rating for the company. 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 research report on Tuesday, October 28th. Weiss Ratings reissued a “sell (d)” rating on shares of Revvity in a report on Monday. Finally, Bank of America decreased their target price 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. Seven equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $113.08.

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.