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

New York Life Investment Management LLC increased its holdings in shares of Revvity Inc. (NYSE:RVTY) by 72.7% during the 3rd quarter, Holdings Channel.com reports. The fund 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 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Jefferies Financial Group lifted their price objective on Revvity from $100.00 to $105.00 and gave the company a “hold” rating in a report on Monday, February 2nd. Evercore increased their target price on shares of Revvity from $112.00 to $118.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 3rd. Robert W. Baird set a $129.00 price target on shares of Revvity in a research report on Tuesday, February 3rd. Bank of America lowered shares of Revvity from a “buy” rating to a “neutral” rating and set a $110.00 price objective for the company. in a report on Monday, December 15th. Finally, TD Cowen reissued a “hold” rating on shares of Revvity in a report on Tuesday, February 3rd. Five investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $113.67.

Revvity Trading Down 5.6%

RVTY opened at $95.39 on Friday. Revvity Inc. has a 1-year low of $81.36 and a 1-year high of $120.39. The stock has a market capitalization of $10.82 billion, a PE ratio of 45.86, a PEG ratio of 2.14 and a beta of 1.07. The company has a current ratio of 1.68, a quick ratio of 1.40 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average price of $103.66 and a two-hundred day moving average price of $95.75.

Revvity (NYSE:RVTY) last announced its earnings results on Monday, February 2nd. The company reported $1.70 earnings per share (EPS) for the quarter, topping 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 company had revenue of $772.06 million for the quarter, compared to analyst estimates of $759.81 million. During the same period in the prior year, the business earned $1.42 earnings per share. Revvity’s quarterly revenue was up 5.9% on a year-over-year basis. Revvity has set its FY 2026 guidance at 5.350-5.450 EPS. As a group, equities analysts anticipate that Revvity Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Friday, April 17th 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 of this dividend is Friday, April 17th. Revvity’s dividend payout ratio (DPR) is 13.46%.

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

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.