Revvity Inc. $RVTY Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC cut its holdings in Revvity Inc. (NYSE:RVTY) by 24.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 24,828 shares of the company’s stock after selling 8,128 shares during the quarter. Voya Investment Management LLC’s holdings in Revvity were worth $2,176,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. RDA Financial Network increased its holdings in Revvity by 12.2% in the 3rd quarter. RDA Financial Network now owns 4,372 shares of the company’s stock worth $383,000 after buying an additional 476 shares during the period. Czech National Bank increased its holdings in shares of Revvity by 2.3% in the third quarter. Czech National Bank now owns 29,481 shares of the company’s stock valued at $2,584,000 after purchasing an additional 670 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Revvity by 80.9% during the third quarter. Assenagon Asset Management S.A. now owns 9,747 shares of the company’s stock worth $854,000 after buying an additional 4,359 shares in the last quarter. Valeo Financial Advisors LLC acquired a new position in Revvity during the second quarter worth $218,000. Finally, Osaic Holdings Inc. increased its stake in shares of Revvity by 24.5% in the 2nd quarter. Osaic Holdings Inc. now owns 12,073 shares of the company’s stock worth $1,171,000 after acquiring an additional 2,374 shares during the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

Revvity Stock Down 0.0%

Shares of RVTY stock opened at $96.77 on Monday. Revvity Inc. has a one year low of $81.36 and a one year high of $128.29. The stock has a market cap of $10.97 billion, a P/E ratio of 48.63, a price-to-earnings-growth ratio of 3.20 and a beta of 1.06. The stock has a fifty day moving average price of $97.19 and a 200 day moving average price of $93.70. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.75 and a quick ratio of 1.44.

Revvity (NYSE:RVTY) last posted its quarterly earnings data on Monday, October 27th. The company reported $1.18 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $699.75 million. During the same quarter in the previous year, the company posted $1.28 EPS. Revvity’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. Analysts predict that Revvity Inc. will post 4.94 earnings per share for the current year.

Revvity declared that its board has initiated a stock buyback program on Monday, October 27th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 8.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Revvity Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Bank of America cut shares of Revvity from a “buy” rating to a “neutral” rating and set a $110.00 price objective for the company. in a research report on Monday, December 15th. Robert W. Baird upped 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. The Goldman Sachs Group assumed coverage on Revvity in a research report on Tuesday, December 9th. They issued a “neutral” rating and a $105.00 target price on the stock. Wells Fargo & Company raised their price target 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. Finally, Barclays lifted their price target on Revvity from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Monday, December 15th. Six research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $115.25.

Revvity 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.