Bank of Nova Scotia Acquires New Position in Revvity Inc. $RVTY

Bank of Nova Scotia acquired a new stake in Revvity Inc. (NYSE:RVTY) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 20,742 shares of the company’s stock, valued at approximately $2,308,000.

Other institutional investors have also added to or reduced their stakes in the company. EdgePoint Investment Group Inc. increased its stake in Revvity by 3.1% in the 1st quarter. EdgePoint Investment Group Inc. now owns 8,800,863 shares of the company’s stock worth $771,044,000 after purchasing an additional 265,204 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Revvity by 5.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,606,637 shares of the company’s stock worth $832,693,000 after purchasing an additional 434,570 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Revvity by 2.3% in the first quarter. Janus Henderson Group PLC now owns 8,348,127 shares of the company’s stock worth $731,386,000 after buying an additional 186,956 shares during the period. BlackRock Inc. bought a new stake in Revvity during the 2nd quarter valued at $852,070,000. Finally, Dimensional Fund Advisors LP raised its holdings in Revvity by 11.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,917,953 shares of the company’s stock valued at $255,623,000 after buying an additional 305,837 shares during the last quarter. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Revvity Stock Up 1.2%

Shares of Revvity stock opened at $126.31 on Thursday. The company has a current ratio of 1.80, a quick ratio of 1.50 and a debt-to-equity ratio of 0.36. Revvity Inc. has a 12-month low of $81.22 and a 12-month high of $126.90. The company has a market cap of $14.09 billion, a P/E ratio of 60.15, a PEG ratio of 2.27 and a beta of 1.07. The company’s fifty day simple moving average is $112.94 and its two-hundred day simple moving average is $100.82.

Revvity (NYSE:RVTY) last posted its earnings results on Tuesday, August 4th. The company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.21 by $0.20. The firm had revenue of $729.69 million during the quarter, compared to analysts’ expectations of $702.96 million. Revvity had a net margin of 8.16% and a return on equity of 8.34%. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period last year, the company posted $1.18 EPS. Revvity has set its FY 2026 guidance at 5.300-5.400 EPS. Research analysts anticipate that Revvity Inc. will post 5.36 EPS for the current year.

Revvity Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 23rd will be issued a $0.07 dividend. The ex-dividend date is Friday, October 23rd. This represents a $0.28 annualized dividend and a yield of 0.2%. Revvity’s dividend payout ratio (DPR) is 13.33%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Wall Street Zen cut shares of Revvity from a “buy” rating to a “hold” rating in a research report on Sunday, August 16th. Barclays increased their target price on shares of Revvity from $95.00 to $105.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. JPMorgan Chase & Co. cut their target price on Revvity from $96.00 to $90.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 6th. Stifel Nicolaus reduced their price target on Revvity from $110.00 to $100.00 and set a “hold” rating on the stock in a report on Wednesday, May 6th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Revvity in a research report on Wednesday, July 15th. Three analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Revvity currently has a consensus rating of “Hold” and an average price target of $108.36.

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.