Rakuten Investment Management Inc. Makes New $636,000 Investment in Revvity Inc. $RVTY

Rakuten Investment Management Inc. bought a new position in Revvity Inc. (NYSE:RVTY) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 7,031 shares of the company’s stock, valued at approximately $636,000.

Other institutional investors have also made changes to their positions in the company. First National Advisers LLC lifted its position in shares of Revvity by 0.8% in the 3rd quarter. First National Advisers LLC now owns 15,023 shares of the company’s stock valued at $1,317,000 after acquiring an additional 125 shares in the last quarter. NorthCrest Asset Manangement LLC raised its stake in Revvity by 2.5% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 7,514 shares of the company’s stock valued at $685,000 after purchasing an additional 180 shares during the period. CVA Family Office LLC lifted its holdings in shares of Revvity by 79.0% in the second quarter. CVA Family Office LLC now owns 410 shares of the company’s stock valued at $40,000 after purchasing an additional 181 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings 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 in the last quarter. Finally, Leslie Global Wealth LLC boosted its position in shares of Revvity by 9.3% in the second quarter. Leslie Global Wealth LLC now owns 2,195 shares of the company’s stock worth $212,000 after buying an additional 186 shares during the period. 86.65% of the stock is owned by hedge funds and other institutional investors.

Revvity Trading Down 0.9%

NYSE:RVTY opened at $116.64 on Friday. The company has a market capitalization of $13.22 billion, a P/E ratio of 58.61, a P/E/G ratio of 3.57 and a beta of 1.05. The stock’s 50 day moving average price is $102.18 and its 200 day moving average price is $95.02. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.44 and a current ratio of 1.75. Revvity Inc. has a 52 week low of $81.36 and a 52 week high of $128.29.

Revvity (NYSE:RVTY) last posted its earnings results on Monday, October 27th. The company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. The firm 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 company’s 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 earnings per share. Revvity has set its FY 2025 guidance at 4.900-5.000 EPS. On average, research analysts forecast that Revvity Inc. will post 4.94 EPS for the current fiscal year.

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on RVTY shares. Wells Fargo & Company upped their price target on Revvity from $102.00 to $107.00 and gave the company an “equal weight” rating in a research report on Monday, December 15th. Bank of America downgraded Revvity from a “buy” rating to a “neutral” rating and set a $110.00 target price on the stock. in a report on Monday, December 15th. Barclays raised their price target on shares of Revvity from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, December 15th. 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 objective on the stock. Finally, Guggenheim initiated coverage on shares of Revvity in a research report on Wednesday, October 15th. They issued a “neutral” rating for the company. Six research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Revvity presently has a consensus rating of “Hold” and a consensus price target 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.