PNC Financial Services Group Inc. Increases Stock Position in Revvity Inc. $RVTY

PNC Financial Services Group Inc. lifted its holdings in shares of Revvity Inc. (NYSE:RVTY) by 18.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,079 shares of the company’s stock after acquiring an additional 5,881 shares during the period. PNC Financial Services Group Inc.’s holdings in Revvity were worth $3,587,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Byrne Asset Management LLC grew its position in shares of Revvity by 0.9% during the fourth quarter. Byrne Asset Management LLC now owns 11,138 shares of the company’s stock worth $1,078,000 after acquiring an additional 100 shares during the last quarter. Allworth Financial LP grew its position in shares of Revvity by 8.9% during the fourth quarter. Allworth Financial LP now owns 1,275 shares of the company’s stock worth $123,000 after acquiring an additional 104 shares during the last quarter. Trust Point Inc. grew its position in shares of Revvity by 3.8% during the fourth quarter. Trust Point Inc. now owns 3,215 shares of the company’s stock worth $311,000 after acquiring an additional 117 shares during the last quarter. HighTower Advisors LLC grew its position in shares of Revvity by 2.6% during the fourth quarter. HighTower Advisors LLC now owns 5,141 shares of the company’s stock worth $497,000 after acquiring an additional 129 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its position in shares of Revvity by 26.2% during the fourth quarter. Farther Finance Advisors LLC now owns 698 shares of the company’s stock worth $68,000 after acquiring an additional 145 shares during the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on RVTY shares. Weiss Ratings lowered shares of Revvity from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, May 13th. Stifel Nicolaus lowered their target price on shares of Revvity from $110.00 to $100.00 and set a “hold” rating on the stock in a research report on Wednesday, May 6th. JPMorgan Chase & Co. lowered their target price on shares of Revvity from $96.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 6th. Evercore raised their target price on shares of Revvity from $112.00 to $118.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 3rd. Finally, Robert W. Baird set a $117.00 price objective on shares of Revvity in a research report on Wednesday, May 6th. Four investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $107.73.

Revvity Stock Performance

NYSE:RVTY opened at $96.93 on Tuesday. The firm’s fifty day moving average price is $90.94 and its 200 day moving average price is $97.03. Revvity Inc. has a 1-year low of $81.22 and a 1-year high of $118.30. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.72 and a quick ratio of 1.41. The firm has a market cap of $10.81 billion, a price-to-earnings ratio of 46.38, a price-to-earnings-growth ratio of 2.09 and a beta of 1.05.

Revvity (NYSE:RVTY) last posted its quarterly earnings data on Tuesday, May 5th. The company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.04. Revvity had a net margin of 8.26% and a return on equity of 8.00%. The firm had revenue of $711.12 million for the quarter, compared to analyst estimates of $704.07 million. During the same period last year, the firm posted $1.01 EPS. Revvity’s quarterly revenue was up 7.0% on a year-over-year basis. Revvity has set its FY 2026 guidance at 5.200-5.300 EPS. On average, sell-side analysts expect that Revvity Inc. will post 5.33 EPS for the current year.

Revvity Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 17th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, July 17th. Revvity’s dividend payout ratio (DPR) is 13.40%.

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.