Norges Bank Buys New Position in Revvity Inc. $RVTY

Norges Bank bought a new stake in shares of Revvity Inc. (NYSE:RVTY) in the fourth quarter, Holdings Channel reports. The firm bought 830,824 shares of the company’s stock, valued at approximately $80,382,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CYBER HORNET ETFs LLC purchased a new position in Revvity during the 2nd quarter valued at about $32,000. Cromwell Holdings LLC boosted its holdings in Revvity by 141.4% during the 4th quarter. Cromwell Holdings LLC now owns 338 shares of the company’s stock valued at $33,000 after acquiring an additional 198 shares during the period. MUFG Securities EMEA plc purchased a new position in Revvity during the 2nd quarter valued at about $34,000. Headlands Technologies LLC purchased a new position in Revvity during the 2nd quarter valued at about $49,000. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Revvity by 56.8% in the 3rd quarter. Smartleaf Asset Management LLC now owns 690 shares of the company’s stock valued at $58,000 after buying an additional 250 shares during the period. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Revvity Stock Performance

Shares of RVTY opened at $98.46 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 1.72. Revvity Inc. has a 1 year low of $81.22 and a 1 year high of $118.30. The stock has a market capitalization of $10.98 billion, a PE ratio of 47.11, a PEG ratio of 2.15 and a beta of 1.11. The stock has a 50-day simple moving average of $93.40 and a 200-day simple moving average of $97.49.

Revvity (NYSE:RVTY) last issued its earnings results on Tuesday, May 5th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.04. Revvity had a return on equity of 8.00% and a net margin of 8.26%.The business had revenue of $711.12 million for the quarter, compared to analyst estimates of $704.07 million. During the same quarter last year, the company earned $1.01 EPS. The business’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, analysts predict that Revvity Inc. will post 5.25 earnings per share for the current fiscal year.

Revvity Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Barclays lifted their price objective on Revvity from $95.00 to $105.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. Wall Street Zen cut Revvity from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. JPMorgan Chase & Co. decreased their price objective on Revvity from $96.00 to $90.00 and set a “neutral” rating for the company in a research note on Wednesday, May 6th. Wolfe Research assumed coverage on Revvity in a research note on Tuesday, June 2nd. They issued a “peer perform” rating for the company. Finally, Weiss Ratings cut Revvity from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 13th. Four research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $107.73.

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.