Revvity Inc. $RVTY Shares Sold by Martin Currie Ltd.

Martin Currie Ltd. cut its holdings in shares of Revvity Inc. (NYSE:RVTY) by 71.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,983 shares of the company’s stock after selling 7,511 shares during the period. Martin Currie Ltd.’s holdings in Revvity were worth $289,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of RVTY. Price T Rowe Associates Inc. MD increased its stake in Revvity by 25.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,563,911 shares of the company’s stock valued at $1,011,863,000 after buying an additional 1,932,314 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in shares of Revvity by 8.5% during the first 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 in the last quarter. EdgePoint Investment Group Inc. boosted its position in Revvity by 32.1% during 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 last quarter. Nuveen LLC purchased a new position in Revvity in the first quarter valued at about $28,060,000. Finally, Massachusetts Financial Services Co. MA increased its position in Revvity by 26.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,160,225 shares of the company’s stock worth $112,217,000 after purchasing an additional 243,689 shares during the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Barclays increased their price target on shares of Revvity from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Wall Street Zen cut Revvity from a “buy” rating to a “hold” rating in a research report on Sunday, August 3rd. Robert W. Baird increased their price target on Revvity from $122.00 to $123.00 and gave the company an “outperform” rating in a report on Tuesday, October 28th. Guggenheim assumed coverage on shares of Revvity in a research note on Wednesday, October 15th. They issued a “neutral” rating for the company. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Revvity in a research note on Wednesday. Eight equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $114.75.

Revvity Price Performance

Shares of NYSE:RVTY opened at $94.09 on Friday. The business’s 50 day moving average is $91.12 and its 200-day moving average is $92.23. The company has a current ratio of 1.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $10.67 billion, a PE ratio of 47.28, a PEG ratio of 3.15 and a beta of 1.01. Revvity Inc. has a 1-year low of $81.36 and a 1-year high of $128.29.

Revvity (NYSE:RVTY) last announced its quarterly earnings data 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 company 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 business’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.28 EPS. Revvity has set its FY 2025 guidance at 4.900-5.000 EPS. Sell-side analysts predict that Revvity Inc. will post 4.94 earnings per share for the current year.

Revvity announced that its Board of Directors has initiated a share repurchase program on Monday, October 27th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to buy up to 8.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Revvity Dividend Announcement

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