PNC Financial Services Group Inc. Has $2.74 Million Stake in Revvity Inc. $RVTY

PNC Financial Services Group Inc. lowered its holdings in shares of Revvity Inc. (NYSE:RVTY) by 20.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,198 shares of the company’s stock after selling 7,883 shares during the period. PNC Financial Services Group Inc.’s holdings in Revvity were worth $2,735,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. EdgePoint Investment Group Inc. lifted its holdings in shares of Revvity by 26.7% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 6,789,660 shares of the company’s stock worth $656,696,000 after acquiring an additional 1,428,813 shares during the period. Norges Bank bought a new position in Revvity during the second quarter worth about $124,574,000. Allspring Global Investments Holdings LLC lifted its stake in Revvity by 14,741.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 771,470 shares of the company’s stock worth $70,790,000 after purchasing an additional 766,272 shares during the period. Invesco Ltd. boosted its holdings 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 purchasing an additional 452,343 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. bought a new stake in shares of Revvity in the 3rd quarter valued at approximately $35,206,000. Institutional investors own 86.65% of the company’s stock.

Revvity Stock Performance

Revvity stock opened at $100.37 on Friday. The stock has a 50-day simple moving average of $103.21 and a 200 day simple moving average of $96.07. The stock has a market capitalization of $11.38 billion, a price-to-earnings ratio of 48.25, a P/E/G ratio of 2.13 and a beta of 1.07. The company has a quick ratio of 1.40, a current ratio of 1.68 and a debt-to-equity ratio of 0.36. Revvity Inc. has a 12-month low of $81.36 and a 12-month high of $120.39.

Revvity (NYSE:RVTY) last posted its quarterly earnings data on Monday, February 2nd. The company reported $1.70 earnings per share for the quarter, beating the consensus estimate of $1.55 by $0.15. Revvity had a net margin of 8.45% and a return on equity of 7.92%. The firm had revenue of $772.06 million during the quarter, compared to analysts’ expectations of $759.81 million. During the same quarter last year, the company posted $1.42 EPS. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. Revvity has set its FY 2026 guidance at 5.350-5.450 EPS. On average, research analysts anticipate that Revvity Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity announced that its board has authorized a share repurchase program on Monday, October 27th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire up to 8.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Revvity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Friday, April 17th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, April 17th. This represents a $0.28 annualized dividend and a yield of 0.3%. Revvity’s dividend payout ratio is currently 13.46%.

Analyst Upgrades and Downgrades

Several research firms recently commented on RVTY. JPMorgan Chase & Co. raised their target price on Revvity from $100.00 to $105.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 3rd. The Goldman Sachs Group initiated coverage on Revvity in a report on Tuesday, December 9th. They set a “neutral” rating and a $105.00 price objective for the company. TD Cowen reaffirmed a “hold” rating on shares of Revvity in a report on Tuesday, February 3rd. Wells Fargo & Company lifted their price target on shares of Revvity from $107.00 to $110.00 and gave the company an “equal weight” rating in a report on Tuesday, February 3rd. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Revvity in a research report on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $113.67.

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.