Cibc World Market Inc. Purchases New Stake in Revvity Inc. $RVTY

Cibc World Market Inc. acquired a new position in shares of Revvity Inc. (NYSE:RVTY) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 8,986 shares of the company’s stock, valued at approximately $788,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. First National Advisers LLC grew its position in shares of Revvity by 0.8% during the 3rd quarter. First National Advisers LLC now owns 15,023 shares of the company’s stock valued at $1,317,000 after acquiring an additional 125 shares during the period. FWG Holdings LLC raised its holdings in shares of Revvity by 2.8% in the 3rd quarter. FWG Holdings LLC now owns 6,215 shares of the company’s stock worth $592,000 after purchasing an additional 167 shares during the period. NorthCrest Asset Manangement LLC lifted its stake in Revvity by 2.5% in the third quarter. NorthCrest Asset Manangement LLC now owns 7,514 shares of the company’s stock valued at $685,000 after purchasing an additional 180 shares during the last quarter. CVA Family Office LLC grew its holdings in Revvity by 79.0% during the second quarter. CVA Family Office LLC now owns 410 shares of the company’s stock valued at $40,000 after purchasing an additional 181 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in Revvity by 25.9% in the second quarter. EverSource Wealth Advisors LLC now owns 900 shares of the company’s stock worth $87,000 after buying an additional 185 shares during the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. upped their price target on Revvity from $100.00 to $105.00 and gave the company a “neutral” rating in a research report on Tuesday, February 3rd. Bank of America cut Revvity from a “buy” rating to a “neutral” rating and set a $110.00 price objective on the stock. in a research note on Monday, December 15th. Wells Fargo & Company increased their target price on shares of Revvity from $107.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 3rd. Barclays lifted their target price on shares of Revvity from $115.00 to $118.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 3rd. Finally, Jefferies Financial Group upped their price target on shares of Revvity from $100.00 to $105.00 and gave the company a “hold” rating in a research note on Monday, February 2nd. Five investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $113.67.

Revvity Trading Down 1.2%

Shares of RVTY opened at $94.90 on Wednesday. The business’s 50-day moving average price is $103.41 and its 200-day moving average price is $95.90. Revvity Inc. has a twelve month low of $81.36 and a twelve month high of $120.39. The stock has a market cap of $10.76 billion, a PE ratio of 45.63, a P/E/G ratio of 2.04 and a beta of 1.07. The company has a quick ratio of 1.40, a current ratio of 1.68 and a debt-to-equity ratio of 0.36.

Revvity (NYSE:RVTY) last released its quarterly earnings data on Monday, February 2nd. The company reported $1.70 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.15. The company had revenue of $772.06 million during the quarter, compared to analyst estimates of $759.81 million. Revvity had a net margin of 8.45% and a return on equity of 7.92%. Revvity’s revenue was up 5.9% compared to the same quarter last year. During the same period last year, the business earned $1.42 earnings per share. Revvity has set its FY 2026 guidance at 5.350-5.450 EPS. On average, equities analysts forecast that Revvity Inc. will post 4.94 EPS for the current fiscal year.

Revvity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 8th. Stockholders of record on Friday, April 17th will be given a dividend of $0.07 per share. 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 payout ratio is 13.46%.

Revvity declared that its board has authorized a stock buyback program on Monday, October 27th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 8.7% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Revvity 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.