EdgePoint Investment Group Inc. Grows Stock Position in Revvity Inc. $RVTY

EdgePoint Investment Group Inc. raised its position in shares of Revvity Inc. (NYSE:RVTY) by 3.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,800,863 shares of the company’s stock after purchasing an additional 265,204 shares during the quarter. Revvity accounts for about 6.2% of EdgePoint Investment Group Inc.’s investment portfolio, making the stock its 6th largest position. EdgePoint Investment Group Inc. owned approximately 7.89% of Revvity worth $771,044,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. The Manufacturers Life Insurance Company raised its position in shares of Revvity by 7.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 348,660 shares of the company’s stock valued at $30,546,000 after purchasing an additional 23,509 shares during the period. Quantinno Capital Management LP boosted its holdings in Revvity by 449.7% in the 1st quarter. Quantinno Capital Management LP now owns 307,511 shares of the company’s stock worth $26,941,000 after buying an additional 251,573 shares during the period. SummitTX Capital L.P. purchased a new stake in Revvity in the 1st quarter worth $1,009,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Revvity by 58.9% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 7,122 shares of the company’s stock valued at $624,000 after acquiring an additional 2,641 shares during the period. Finally, Public Employees Retirement System of Ohio raised its holdings in Revvity by 33.4% during the first quarter. Public Employees Retirement System of Ohio now owns 98,237 shares of the company’s stock valued at $8,607,000 after acquiring an additional 24,591 shares during the period. 86.65% of the stock is currently owned by institutional investors.

Revvity Price Performance

NYSE:RVTY opened at $108.04 on Tuesday. The business’s 50-day moving average is $105.15 and its 200 day moving average is $99.61. Revvity Inc. has a 12 month low of $81.22 and a 12 month high of $118.30. The company has a market capitalization of $12.05 billion, a P/E ratio of 51.69, a P/E/G ratio of 2.17 and a beta of 1.09. The company has a current ratio of 1.72, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37.

Revvity (NYSE:RVTY) last released its quarterly earnings results on Tuesday, May 5th. The company reported $1.06 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.04. The business had revenue of $711.12 million during the quarter, compared to analysts’ expectations of $704.07 million. Revvity had a return on equity of 8.00% and a net margin of 8.26%.The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.01 EPS. Revvity has set its FY 2026 guidance at 5.200-5.300 EPS. On average, equities research analysts forecast that Revvity Inc. will post 5.25 earnings per share for the current fiscal year.

Revvity Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on RVTY shares. Robert W. Baird set a $117.00 price objective on Revvity in a research note on Wednesday, May 6th. Zacks Research downgraded Revvity from a “hold” rating to a “strong sell” rating in a research note on Monday, July 6th. TD Cowen reissued a “buy” rating on shares of Revvity in a report on Wednesday, July 15th. Sanford C. Bernstein assumed coverage on Revvity in a research note on Friday, June 26th. They issued a “market perform” rating and a $115.00 price target for the company. Finally, JPMorgan Chase & Co. cut their price objective on shares of Revvity from $96.00 to $90.00 and set a “neutral” rating for the company in a report on Wednesday, May 6th. Four analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $108.92.

About Revvity

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.