SummitTX Capital L.P. Acquires Shares of 11,512 Revvity Inc. $RVTY

SummitTX Capital L.P. bought a new stake in shares of Revvity Inc. (NYSE:RVTY) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 11,512 shares of the company’s stock, valued at approximately $1,009,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tudor Investment Corp ET AL bought a new stake in shares of Revvity in the 3rd quarter worth approximately $15,128,000. KBC Group NV lifted its stake in Revvity by 115.4% in the fourth quarter. KBC Group NV now owns 39,522 shares of the company’s stock valued at $3,824,000 after buying an additional 21,174 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in shares of Revvity by 985.0% during the fourth quarter. Corient Private Wealth LLC now owns 126,568 shares of the company’s stock valued at $12,245,000 after acquiring an additional 114,903 shares during the period. Diamond Hill Capital Management Inc. boosted its holdings in shares of Revvity by 6.3% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 426,899 shares of the company’s stock valued at $41,302,000 after acquiring an additional 25,233 shares during the period. Finally, Catalyst Funds Management Pty Ltd bought a new position in shares of Revvity during the fourth quarter worth about $1,596,000. 86.65% of the stock is owned by hedge funds and other institutional investors.

Revvity Price Performance

Shares of NYSE RVTY opened at $113.76 on Friday. The stock has a market cap of $12.69 billion, a P/E ratio of 54.43, a P/E/G ratio of 2.23 and a beta of 1.09. The firm’s 50-day simple moving average is $106.19 and its 200 day simple moving average is $99.82. Revvity Inc. has a fifty-two week low of $81.22 and a fifty-two week high of $118.30. The company has a quick ratio of 1.41, a current ratio of 1.72 and a debt-to-equity ratio of 0.37.

Revvity (NYSE:RVTY) last announced its earnings results on Tuesday, May 5th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.04. The firm had revenue of $711.12 million during the quarter, compared to analyst estimates of $704.07 million. Revvity had a net margin of 8.26% and a return on equity of 8.00%. Revvity’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.01 EPS. Revvity has set its FY 2026 guidance at 5.200-5.300 EPS. Equities analysts expect that Revvity Inc. will post 5.25 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Wolfe Research started coverage on shares of Revvity in a research report on Tuesday, June 2nd. They issued a “peer perform” rating on the stock. Stifel Nicolaus decreased their target price on shares of Revvity from $110.00 to $100.00 and set a “hold” rating for the company in a research report on Wednesday, May 6th. Wall Street Zen lowered shares of Revvity from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Zacks Research cut Revvity from a “hold” rating to a “strong sell” rating in a report on Monday, July 6th. Finally, JPMorgan Chase & Co. reduced their price objective on Revvity from $96.00 to $90.00 and set a “neutral” rating for the company in a research report on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Revvity currently has a consensus rating of “Hold” and an average target price of $108.36.

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.