Nisa Investment Advisors LLC Grows Stock Holdings in Revvity Inc. $RVTY

Nisa Investment Advisors LLC lifted its position in Revvity Inc. (NYSE:RVTY) by 11.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 80,636 shares of the company’s stock after buying an additional 8,116 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Revvity were worth $7,068,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. EdgePoint Investment Group Inc. grew its position in Revvity by 26.7% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 6,789,660 shares of the company’s stock valued at $656,696,000 after acquiring an additional 1,428,813 shares in the last quarter. Norges Bank purchased a new position in shares of Revvity in the second quarter valued at approximately $124,574,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Revvity by 14,741.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 771,470 shares of the company’s stock valued at $70,790,000 after purchasing an additional 766,272 shares in the last quarter. Invesco Ltd. increased its stake in Revvity by 25.8% during the 2nd quarter. Invesco Ltd. now owns 2,207,202 shares of the company’s stock worth $213,481,000 after buying an additional 452,343 shares during the period. Finally, Amundi lifted its holdings in Revvity by 157.0% during the 2nd quarter. Amundi now owns 519,987 shares of the company’s stock worth $52,467,000 after buying an additional 317,643 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

Revvity Stock Up 2.8%

Shares of NYSE RVTY opened at $104.57 on Friday. The business has a 50-day moving average of $98.08 and a two-hundred day moving average of $94.08. The company has a market capitalization of $11.86 billion, a price-to-earnings ratio of 52.55, a price-to-earnings-growth ratio of 3.19 and a beta of 1.05. Revvity Inc. has a 1 year low of $81.36 and a 1 year high of $128.29. 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 released its quarterly earnings data on Monday, October 27th. The company reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. Revvity had a return on equity of 7.52% and a net margin of 8.44%.The business had revenue of $698.95 million for the quarter, compared to the consensus estimate of $699.75 million. During the same quarter in the prior year, the business posted $1.28 EPS. The business’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, analysts forecast that Revvity Inc. will post 4.94 earnings per share for the current fiscal year.

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

Revvity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 6th. Shareholders of record on Friday, January 16th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, January 16th. This represents a $0.28 dividend on an annualized basis and a yield of 0.3%. Revvity’s dividend payout ratio (DPR) is presently 14.07%.

Wall Street Analyst Weigh In

RVTY has been the subject of several research reports. The Goldman Sachs Group began coverage on shares of Revvity in a research note on Tuesday, December 9th. They issued a “neutral” rating and a $105.00 price target for the company. Wells Fargo & Company boosted their target price on Revvity from $102.00 to $107.00 and gave the stock an “equal weight” rating in a research note on Monday, December 15th. Robert W. Baird upped their price target on Revvity from $122.00 to $123.00 and gave the stock an “outperform” rating in a 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. Finally, Bank of America downgraded 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. Six equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price 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.