New York Life Investment Management LLC Acquires 11,583 Shares of Revvity Inc. $RVTY

New York Life Investment Management LLC grew its holdings in Revvity Inc. (NYSE:RVTY) by 72.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,520 shares of the company’s stock after acquiring an additional 11,583 shares during the period. New York Life Investment Management LLC’s holdings in Revvity were worth $2,412,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of RVTY. EdgePoint Investment Group Inc. lifted its stake in shares of Revvity by 26.7% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 6,789,660 shares of the company’s stock valued at $656,696,000 after purchasing an additional 1,428,813 shares during the last quarter. Norges Bank acquired a new stake in shares of Revvity in the second quarter worth about $124,574,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Revvity by 14,741.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 771,470 shares of the company’s stock valued at $70,790,000 after acquiring an additional 766,272 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Revvity by 25.8% during the 2nd quarter. Invesco Ltd. now owns 2,207,202 shares of the company’s stock valued at $213,481,000 after acquiring an additional 452,343 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. bought a new position in shares of Revvity in the 3rd quarter valued at approximately $35,206,000. Institutional investors own 86.65% of the company’s stock.

Analyst Upgrades and Downgrades

RVTY has been the topic of several analyst reports. The Goldman Sachs Group initiated coverage on Revvity in a report on Tuesday, December 9th. They set a “neutral” rating and a $105.00 price target on the stock. Jefferies Financial Group raised their target price on shares of Revvity from $100.00 to $105.00 and gave the company a “hold” rating in a research note on Monday, February 2nd. Weiss Ratings reissued a “sell (d)” rating on shares of Revvity in a research report on Monday, December 29th. JPMorgan Chase & Co. upped their price target on shares of Revvity from $100.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 3rd. Finally, Evercore lifted their price objective on Revvity from $112.00 to $118.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. Five research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $113.67.

Revvity Stock Performance

NYSE RVTY opened at $95.39 on Friday. The company’s fifty day moving average is $103.66 and its two-hundred day moving average is $95.75. Revvity Inc. has a 52-week low of $81.36 and a 52-week high of $120.39. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.68 and a quick ratio of 1.40. The firm has a market capitalization of $10.82 billion, a price-to-earnings ratio of 45.86, a P/E/G ratio of 2.14 and a beta of 1.07.

Revvity (NYSE:RVTY) last announced its quarterly earnings data on Monday, February 2nd. The company reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.15. Revvity had a net margin of 8.45% and a return on equity of 7.92%. The business had revenue of $772.06 million during the quarter, compared to analyst estimates of $759.81 million. During the same quarter in the prior year, the business earned $1.42 earnings per share. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. Revvity has set its FY 2026 guidance at 5.350-5.450 EPS. Equities research analysts forecast that Revvity Inc. will post 4.94 EPS for the current year.

Revvity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Friday, April 17th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, April 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.3%. Revvity’s payout ratio is currently 13.46%.

Revvity announced that its board has authorized a share buyback program on Monday, October 27th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 8.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

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.