Diamond Hill Capital Management Inc. Acquires New Holdings in Revvity Inc. $RVTY

Diamond Hill Capital Management Inc. purchased a new position in Revvity Inc. (NYSE:RVTY) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 401,666 shares of the company’s stock, valued at approximately $35,206,000. Diamond Hill Capital Management Inc. owned about 0.35% of Revvity as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. AQR Capital Management LLC boosted its holdings in shares of Revvity by 5.2% in the 1st quarter. AQR Capital Management LLC now owns 8,449 shares of the company’s stock valued at $883,000 after purchasing an additional 420 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Revvity by 6.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,776 shares of the company’s stock valued at $1,246,000 after purchasing an additional 744 shares during the period. Millennium Management LLC lifted its holdings in Revvity by 102.0% in the 1st quarter. Millennium Management LLC now owns 69,401 shares of the company’s stock worth $7,343,000 after buying an additional 35,048 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Revvity by 45.5% in the first quarter. Goldman Sachs Group Inc. now owns 607,104 shares of the company’s stock valued at $64,232,000 after purchasing an additional 189,871 shares during the last quarter. Finally, Focus Partners Wealth grew its position in shares of Revvity by 13.0% during the first quarter. Focus Partners Wealth now owns 7,028 shares of the company’s stock worth $744,000 after buying an additional 811 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Revvity in a research report on Monday, December 29th. Bank of America cut 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. The Goldman Sachs Group started coverage on Revvity in a research note on Tuesday, December 9th. They set a “neutral” rating and a $105.00 price objective for the company. Wells Fargo & Company boosted their target price on shares of Revvity from $107.00 to $110.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 3rd. Finally, Robert W. Baird set a $129.00 price objective on Revvity in a research report on Tuesday. Five investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $113.67.

Revvity Stock Up 2.1%

Shares of Revvity stock opened at $101.60 on Friday. The company has a market capitalization of $11.52 billion, a P/E ratio of 48.85, a price-to-earnings-growth ratio of 2.15 and a beta of 1.07. Revvity Inc. has a 1 year low of $81.36 and a 1 year 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 1.44. The business has a 50-day moving average of $103.80 and a two-hundred day moving average of $95.73.

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

Revvity Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, April 17th. Revvity’s dividend payout ratio (DPR) is presently 13.46%.

Revvity declared that its board has initiated a stock buyback plan on Monday, October 27th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 8.7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board 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.