Bank of New York Mellon Corp Sells 76,253 Shares of Revvity Inc. $RVTY

Bank of New York Mellon Corp reduced its position in shares of Revvity Inc. (NYSE:RVTY) by 10.4% in the 4th quarter, HoldingsChannel reports. The firm owned 658,432 shares of the company’s stock after selling 76,253 shares during the period. Bank of New York Mellon Corp’s holdings in Revvity were worth $63,703,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in RVTY. EdgePoint Investment Group Inc. lifted its holdings in Revvity by 26.3% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 8,574,280 shares of the company’s stock valued at $751,536,000 after purchasing an additional 1,784,620 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Revvity by 127.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,751,612 shares of the company’s stock worth $171,921,000 after acquiring an additional 980,142 shares during the last quarter. Norges Bank bought a new position in shares of Revvity in the fourth quarter worth about $80,382,000. Dimensional Fund Advisors LP raised its stake in shares of Revvity by 39.0% in the third quarter. Dimensional Fund Advisors LP now owns 2,125,957 shares of the company’s stock worth $186,307,000 after acquiring an additional 596,436 shares during the last quarter. Finally, Neuberger Berman Group LLC raised its stake in shares of Revvity by 4,598.9% in the third quarter. Neuberger Berman Group LLC now owns 460,447 shares of the company’s stock worth $40,358,000 after acquiring an additional 450,648 shares during the last quarter. 86.65% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on RVTY shares. TD Cowen boosted their target price on shares of Revvity from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Wall Street Zen downgraded shares of Revvity from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Wolfe Research started coverage on shares of Revvity in a research note on Tuesday, June 2nd. They issued a “peer perform” rating for the company. Robert W. Baird set a $117.00 target price on shares of Revvity in a research note on Wednesday, May 6th. Finally, The Goldman Sachs Group dropped their target price on shares of Revvity from $110.00 to $95.00 and set a “neutral” rating for the company in a research note on Tuesday, April 14th. Four equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $107.73.

Revvity Stock Up 3.8%

Shares of NYSE:RVTY opened at $104.09 on Wednesday. Revvity Inc. has a one year low of $81.22 and a one year high of $118.30. The company has a 50 day moving average of $94.07 and a 200-day moving average of $97.67. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.72 and a quick ratio of 1.41. The stock has a market cap of $11.61 billion, a price-to-earnings ratio of 49.81, a P/E/G ratio of 2.19 and a beta of 1.11.

Revvity (NYSE:RVTY) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $1.06 EPS for the quarter, topping the consensus estimate of $1.02 by $0.04. Revvity had a net margin of 8.26% and a return on equity of 8.00%. The company had revenue of $711.12 million during the quarter, compared to analysts’ expectations of $704.07 million. During the same quarter in the previous year, the company earned $1.01 EPS. Revvity’s revenue was up 7.0% on a year-over-year basis. Revvity has set its FY 2026 guidance at 5.200-5.300 EPS. On average, sell-side analysts forecast that Revvity Inc. will post 5.25 earnings per share for the current year.

Revvity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Friday, July 17th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, July 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.3%. Revvity’s payout ratio is currently 13.40%.

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.