Prudential PLC Acquires 11,799 Shares of Revvity Inc. $RVTY

Prudential PLC lifted its holdings in shares of Revvity Inc. (NYSE:RVTY) by 67.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,351 shares of the company’s stock after purchasing an additional 11,799 shares during the period. Prudential PLC’s holdings in Revvity were worth $2,839,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. UMB Bank n.a. lifted its holdings in Revvity by 138.8% during the 2nd quarter. UMB Bank n.a. now owns 406 shares of the company’s stock worth $39,000 after buying an additional 236 shares during the period. CVA Family Office LLC increased its stake in shares of Revvity by 79.0% in the second quarter. CVA Family Office LLC now owns 410 shares of the company’s stock valued at $40,000 after buying an additional 181 shares during the period. New Age Alpha Advisors LLC bought a new position in shares of Revvity during the first quarter worth about $44,000. Caitong International Asset Management Co. Ltd lifted its stake in shares of Revvity by 25.3% in the first quarter. Caitong International Asset Management Co. Ltd now owns 694 shares of the company’s stock worth $73,000 after acquiring an additional 140 shares during the period. Finally, Cary Street Partners Investment Advisory LLC bought a new stake in Revvity in the first quarter valued at approximately $75,000. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Stifel Nicolaus lowered their price target on shares of Revvity from $120.00 to $110.00 and set a “hold” rating for the company in a report on Tuesday, July 29th. Robert W. Baird lifted their target price on shares of Revvity from $122.00 to $123.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 28th. Bank of America dropped their target price on shares of Revvity from $110.00 to $99.00 and set a “buy” rating on the stock in a report on Monday, September 22nd. Evercore ISI reiterated an “outperform” rating and set a $108.00 price target on shares of Revvity in a report on Monday, October 27th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $115.00 price objective (down from $120.00) on shares of Revvity in a research report on Tuesday, July 29th. Eight investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $114.75.

Revvity Stock Up 4.3%

Shares of NYSE RVTY opened at $98.10 on Friday. 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 firm has a market cap of $11.12 billion, a PE ratio of 49.30, a P/E/G ratio of 3.15 and a beta of 1.01. The company’s fifty day simple moving average is $91.43 and its 200 day simple moving average is $92.28. Revvity Inc. has a 12-month low of $81.36 and a 12-month high of $128.29.

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

Revvity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 6th. Investors of record on Friday, January 16th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, January 16th. Revvity’s dividend payout ratio is 14.07%.

Revvity announced that its Board of Directors has approved a share buyback plan on Monday, October 27th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to buy up to 8.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board 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.