EdgePoint Investment Group Inc. Has $656.70 Million Holdings in Revvity Inc. $RVTY

EdgePoint Investment Group Inc. lifted its stake in shares of Revvity Inc. (NYSE:RVTY) by 26.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,789,660 shares of the company’s stock after purchasing an additional 1,428,813 shares during the quarter. Revvity accounts for about 5.0% of EdgePoint Investment Group Inc.’s portfolio, making the stock its 9th largest position. EdgePoint Investment Group Inc. owned about 0.06% of Revvity worth $656,696,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Curi Capital LLC acquired a new stake in Revvity in the second quarter valued at approximately $361,000. BNP Paribas Financial Markets lifted its stake in shares of Revvity by 44.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 257,287 shares of the company’s stock valued at $24,885,000 after acquiring an additional 79,741 shares during the last quarter. Brevan Howard Capital Management LP acquired a new stake in shares of Revvity during the 2nd quarter valued at $1,755,000. Balyasny Asset Management L.P. bought a new stake in Revvity during the 2nd quarter worth $30,106,000. Finally, California State Teachers Retirement System increased its holdings in Revvity by 4.1% in the 2nd quarter. California State Teachers Retirement System now owns 207,442 shares of the company’s stock worth $20,064,000 after purchasing an additional 8,200 shares in the last quarter. Institutional investors own 86.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on RVTY shares. Bank of America cut their price target on Revvity from $110.00 to $99.00 and set a “buy” rating on the stock in a research note on Monday, September 22nd. Barclays boosted their target price on shares of Revvity from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Revvity in a research note on Monday. Robert W. Baird lifted their price target on shares of Revvity from $122.00 to $123.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. Finally, Guggenheim started coverage on Revvity in a report on Wednesday, October 15th. They issued a “neutral” rating for the company. Seven analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $113.08.

Revvity Stock Down 3.3%

Shares of NYSE RVTY opened at $100.53 on Friday. The company’s 50 day moving average price is $96.15 and its 200-day moving average price is $93.34. 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. The company has a market capitalization of $11.40 billion, a P/E ratio of 50.52, a price-to-earnings-growth ratio of 3.43 and a beta of 1.06.

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

Revvity announced that its board has approved a stock repurchase program on Monday, October 27th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire 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.

Revvity Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 6th. Stockholders of record on Friday, January 16th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, January 16th. Revvity’s payout ratio is currently 14.07%.

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.