Nomura Asset Management Co. Ltd. Grows Stock Holdings in Revvity Inc. $RVTY

Nomura Asset Management Co. Ltd. increased its stake in Revvity Inc. (NYSE:RVTY) by 10.1% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 40,402 shares of the company’s stock after buying an additional 3,717 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Revvity were worth $3,908,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Cetera Investment Advisers grew its stake in shares of Revvity by 28.6% in the second quarter. Cetera Investment Advisers now owns 10,001 shares of the company’s stock worth $967,000 after acquiring an additional 2,227 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Revvity by 3.9% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 28,908 shares of the company’s stock worth $2,796,000 after buying an additional 1,076 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Revvity by 26.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,160,225 shares of the company’s stock worth $112,217,000 after buying an additional 243,689 shares in the last quarter. Police & Firemen s Retirement System of New Jersey grew its holdings in shares of Revvity by 4.0% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 18,516 shares of the company’s stock valued at $1,791,000 after buying an additional 708 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Revvity by 10.6% during the second quarter. PNC Financial Services Group Inc. now owns 39,081 shares of the company’s stock valued at $3,780,000 after acquiring an additional 3,758 shares in the last quarter. Institutional investors own 86.65% of the company’s stock.

Analyst Ratings Changes

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

Revvity Stock Performance

RVTY stock opened at $98.10 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.75 and a quick ratio of 2.75. Revvity Inc. has a 1 year low of $81.36 and a 1 year high of $128.29. The company has a market cap of $11.12 billion, a P/E ratio of 49.30, a price-to-earnings-growth ratio of 3.15 and a beta of 1.01. The stock’s fifty day moving average price is $91.43 and its 200-day moving average price is $92.27.

Revvity (NYSE:RVTY) last posted its earnings results on Monday, October 27th. The company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. The company had revenue of $698.95 million for the quarter, compared to the consensus estimate of $699.75 million. Revvity had a return on equity of 7.52% and a net margin of 8.44%.Revvity’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.28 earnings per share. Revvity has set its FY 2025 guidance at 4.900-5.000 EPS. On average, equities analysts forecast that Revvity Inc. will post 4.94 earnings per share for the current year.

Revvity Dividend Announcement

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

Revvity announced that its Board of Directors has initiated a stock repurchase plan on Monday, October 27th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase up to 8.7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

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.