Federated Hermes Inc. Cuts Stake in Revvity Inc. $RVTY

Federated Hermes Inc. cut its stake in Revvity Inc. (NYSE:RVTY) by 9.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 213,182 shares of the company’s stock after selling 22,482 shares during the period. Federated Hermes Inc.’s holdings in Revvity were worth $20,619,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Cetera Investment Advisers raised its stake in Revvity by 34.4% during the first quarter. Cetera Investment Advisers now owns 7,774 shares of the company’s stock worth $823,000 after purchasing an additional 1,988 shares during the period. LPL Financial LLC increased its holdings in shares of Revvity by 9.9% during the 1st quarter. LPL Financial LLC now owns 29,982 shares of the company’s stock worth $3,172,000 after buying an additional 2,702 shares during the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of Revvity in the 1st quarter worth $44,000. Charles Schwab Investment Management Inc. boosted its holdings in Revvity by 2.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 866,689 shares of the company’s stock valued at $91,696,000 after acquiring an additional 23,544 shares during the last quarter. Finally, Citigroup Inc. grew its position in Revvity by 7.2% during the first quarter. Citigroup Inc. now owns 120,238 shares of the company’s stock valued at $12,721,000 after acquiring an additional 8,071 shares during the period. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Revvity Trading Down 0.9%

NYSE RVTY opened at $98.85 on Wednesday. The stock has a market cap of $11.21 billion, a P/E ratio of 49.67, a PEG ratio of 3.30 and a beta of 1.06. The company’s fifty day simple moving average is $95.54 and its 200-day simple moving average is $93.12. The company has a current ratio of 1.75, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36. Revvity Inc. has a 52 week low of $81.36 and a 52 week high of $128.29.

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. Equities research analysts predict that Revvity Inc. will post 4.94 EPS for the current fiscal year.

Revvity announced that its Board of Directors has authorized a share repurchase plan on Monday, October 27th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 8.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Revvity Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 6th. Investors of record on Friday, January 16th will be paid a $0.07 dividend. The ex-dividend date is Friday, January 16th. This represents a $0.28 annualized dividend and a dividend yield of 0.3%. Revvity’s payout ratio is 14.07%.

Analyst Ratings Changes

A number of equities analysts have recently commented on RVTY shares. Weiss Ratings restated a “sell (d)” rating on shares of Revvity in a report on Monday. Barclays increased their target price on shares of Revvity from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. 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. Robert W. Baird boosted their price objective on shares of Revvity from $122.00 to $123.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 28th. Finally, The Goldman Sachs Group initiated coverage on shares of Revvity in a research note on Tuesday. They issued a “neutral” rating and a $105.00 target price on the stock. Seven investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $113.08.

Revvity Company 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.