Legal & General Group Plc Trims Stake in Revvity Inc. $RVTY

Legal & General Group Plc cut its position in shares of Revvity Inc. (NYSE:RVTY) by 42.6% during the 4th quarter, HoldingsChannel reports. The firm owned 262,609 shares of the company’s stock after selling 195,163 shares during the period. Legal & General Group Plc’s holdings in Revvity were worth $25,407,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of RVTY. New York Life Investment Management LLC boosted its stake in Revvity by 72.7% during the third quarter. New York Life Investment Management LLC now owns 27,520 shares of the company’s stock worth $2,412,000 after acquiring an additional 11,583 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Revvity by 15.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 511,360 shares of the company’s stock worth $44,821,000 after purchasing an additional 67,662 shares in the last quarter. Tudor Investment Corp ET AL purchased a new stake in shares of Revvity in the 3rd quarter worth approximately $15,128,000. First National Bank of Omaha purchased a new stake in shares of Revvity in the 3rd quarter worth approximately $6,432,000. Finally, Elo Mutual Pension Insurance Co raised its stake in Revvity by 46.2% during the third quarter. Elo Mutual Pension Insurance Co now owns 19,199 shares of the company’s stock valued at $1,683,000 after buying an additional 6,066 shares during the last quarter. Institutional investors own 86.65% of the company’s stock.

Revvity Stock Up 0.3%

NYSE RVTY opened at $104.88 on Monday. The stock has a market cap of $11.70 billion, a PE ratio of 50.18, a P/E/G ratio of 2.25 and a beta of 1.11. The stock’s 50 day moving average is $92.03 and its 200 day moving average is $97.27. Revvity Inc. has a 12 month low of $81.22 and a 12 month high of $118.30. The company has a current ratio of 1.72, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37.

Revvity (NYSE:RVTY) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $1.02 by $0.04. Revvity had a net margin of 8.26% and a return on equity of 8.00%. The business had revenue of $711.12 million for the quarter, compared to analysts’ expectations of $704.07 million. During the same quarter in the previous year, the company earned $1.01 EPS. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. Revvity has set its FY 2026 guidance at 5.200-5.300 EPS. Research analysts predict that Revvity Inc. will post 5.32 EPS for the current fiscal year.

Revvity Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 17th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Friday, July 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.3%. Revvity’s payout ratio is presently 13.40%.

Wall Street Analyst Weigh In

RVTY has been the subject of several analyst reports. Robert W. Baird set a $117.00 price target on Revvity in a report on Wednesday, May 6th. Barclays increased their price objective on Revvity from $95.00 to $105.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. The Goldman Sachs Group lowered their target price on shares of Revvity from $110.00 to $95.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. Weiss Ratings downgraded Revvity from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, May 13th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Revvity from $96.00 to $90.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 6th. Four investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $107.73.

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.