Bollard Group LLC Purchases Shares of 18,439 Revvity Inc. $RVTY

Bollard Group LLC acquired a new position in shares of Revvity Inc. (NYSE:RVTY) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 18,439 shares of the company’s stock, valued at approximately $1,783,000.

Other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Revvity by 25.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,563,911 shares of the company’s stock valued at $1,011,863,000 after purchasing an additional 1,932,314 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of Revvity by 8.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 22,515,711 shares of the company’s stock worth $2,382,163,000 after buying an additional 1,754,403 shares during the period. EdgePoint Investment Group Inc. boosted its holdings in Revvity by 32.1% in the first quarter. EdgePoint Investment Group Inc. now owns 5,360,847 shares of the company’s stock valued at $567,178,000 after acquiring an additional 1,302,616 shares during the last quarter. Norges Bank purchased a new stake in Revvity during the second quarter valued at about $124,574,000. Finally, Invesco Ltd. grew its position in Revvity by 25.8% during the second quarter. Invesco Ltd. now owns 2,207,202 shares of the company’s stock valued at $213,481,000 after acquiring an additional 452,343 shares during the period. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RVTY. Robert W. Baird lifted their price objective on Revvity from $122.00 to $123.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. Barclays lifted their price target on shares of Revvity from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Weiss Ratings reissued a “sell (d)” rating on shares of Revvity in a research report on Monday, December 1st. Guggenheim assumed coverage on shares of Revvity in a report on Wednesday, October 15th. They set a “neutral” rating on the stock. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $108.00 price target on shares of Revvity in a research report on Monday, October 27th. Eight equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Revvity presently has an average rating of “Moderate Buy” and a consensus target price of $114.75.

Revvity Trading Down 1.7%

RVTY opened at $100.81 on Friday. The firm’s 50 day moving average is $95.01 and its 200-day moving average is $92.97. Revvity Inc. has a 52-week low of $81.36 and a 52-week high of $128.29. The company has a quick ratio of 1.44, a current ratio of 1.75 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $11.43 billion, a P/E ratio of 50.66, a P/E/G ratio of 3.33 and a beta of 1.06.

Revvity (NYSE:RVTY) last released its quarterly earnings results on Monday, October 27th. The company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. Revvity had a net margin of 8.44% and a return on equity of 7.52%. The business had revenue of $698.95 million during the quarter, compared to analyst estimates of $699.75 million. During the same period last year, the business earned $1.28 EPS. The business’s revenue was up 2.2% on a year-over-year basis. Revvity has set its FY 2025 guidance at 4.900-5.000 EPS. Analysts expect that Revvity Inc. will post 4.94 EPS for the current fiscal year.

Revvity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 6th. Stockholders of record on Friday, January 16th 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 of this dividend is Friday, January 16th. Revvity’s payout ratio is presently 14.07%.

Revvity declared that its Board of Directors has approved a share repurchase plan on Monday, October 27th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to reacquire up to 8.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Revvity Profile

Revvity, Inc provides health sciences solutions, technologies, and services in the Americas, Europe, and Asia, and internationally. The Life Sciences segment provides instruments, reagents, informatics, software, subscriptions, detection, imaging technologies, warranties, training, and services. Its Diagnostics segment provides instruments, reagents, assay platforms, and software products for the early detection of genetic disorders, such as pregnancy and early childhood, as well as infectious disease testing in the diagnostics market.