Ensign Peak Advisors Inc Sells 6,900 Shares of Revvity Inc. $RVTY

Ensign Peak Advisors Inc lowered its stake in Revvity Inc. (NYSE:RVTY) by 17.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 32,066 shares of the company’s stock after selling 6,900 shares during the period. Ensign Peak Advisors Inc’s holdings in Revvity were worth $3,101,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RVTY. T. Rowe Price Investment Management Inc. grew its holdings in Revvity by 8.5% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 22,515,711 shares of the company’s stock worth $2,382,163,000 after acquiring an additional 1,754,403 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Revvity by 0.6% during the first quarter. Vanguard Group Inc. now owns 14,382,849 shares of the company’s stock worth $1,521,705,000 after purchasing an additional 92,638 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Revvity by 25.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,563,911 shares of the company’s stock worth $1,011,863,000 after purchasing an additional 1,932,314 shares during the last quarter. EdgePoint Investment Group Inc. increased its holdings in Revvity by 32.1% in the first quarter. EdgePoint Investment Group Inc. now owns 5,360,847 shares of the company’s stock valued at $567,178,000 after purchasing an additional 1,302,616 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Revvity by 1.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,444,645 shares of the company’s stock valued at $364,443,000 after purchasing an additional 62,307 shares during the period. Institutional investors own 86.65% of the company’s stock.

Revvity Price Performance

Shares of RVTY opened at $104.76 on Thursday. The business’s fifty day moving average is $92.55 and its 200 day moving average is $92.53. Revvity Inc. has a 12-month low of $81.36 and a 12-month high of $128.29. The company has a quick ratio of 2.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.36. The stock has a market cap of $11.88 billion, a P/E ratio of 52.64, a P/E/G ratio of 3.15 and a beta of 1.01.

Revvity (NYSE:RVTY) last posted 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 company had revenue of $698.95 million for the quarter, compared to analyst estimates of $699.75 million. Revvity had a net margin of 8.44% and a return on equity of 7.52%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.28 EPS. Revvity has set its FY 2025 guidance at 4.900-5.000 EPS. Sell-side analysts anticipate that Revvity Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Dividend Announcement

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

Revvity announced that its Board of Directors has approved a stock repurchase program on Monday, October 27th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 8.7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on RVTY shares. Guggenheim started coverage on Revvity in a research report on Wednesday, October 15th. They issued a “neutral” rating on the stock. Bank of America reduced their target price on Revvity from $110.00 to $99.00 and set a “buy” rating on the stock in a report on Monday, September 22nd. Wall Street Zen lowered shares of Revvity from a “buy” rating to a “hold” rating in a report on Sunday, August 3rd. Evercore ISI reaffirmed an “outperform” rating and issued a $108.00 price objective on shares of Revvity in a research note on Monday, October 27th. Finally, Barclays increased their price objective on shares of Revvity from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Eight equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $114.75.

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.