Revvity Inc. $RVTY Shares Purchased by Tributary Capital Management LLC

Tributary Capital Management LLC boosted its position in Revvity Inc. (NYSE:RVTY) by 61.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 19,192 shares of the company’s stock after acquiring an additional 7,285 shares during the period. Tributary Capital Management LLC’s holdings in Revvity were worth $1,682,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in RVTY. Family Legacy Financial Solutions LLC acquired a new stake in Revvity in the 2nd quarter valued at $5,351,000. Amundi boosted its position in shares of Revvity by 157.0% in the second quarter. Amundi now owns 519,987 shares of the company’s stock worth $52,467,000 after buying an additional 317,643 shares during the period. Invesco Ltd. boosted its position in shares of Revvity by 25.8% in the second quarter. Invesco Ltd. now owns 2,207,202 shares of the company’s stock worth $213,481,000 after buying an additional 452,343 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Revvity by 24.4% in the second quarter. Russell Investments Group Ltd. now owns 66,771 shares of the company’s stock valued at $6,491,000 after buying an additional 13,078 shares in the last quarter. Finally, Aviva PLC raised its holdings in shares of Revvity by 5.0% during the 2nd quarter. Aviva PLC now owns 89,527 shares of the company’s stock valued at $8,659,000 after buying an additional 4,303 shares during the period. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on RVTY shares. Robert W. Baird upped their price target on Revvity from $122.00 to $123.00 and gave the stock an “outperform” rating in a report on Tuesday, October 28th. Weiss Ratings reissued a “sell (d)” rating on shares of Revvity in a research report on Monday, December 29th. Wells Fargo & Company upped their target price on shares of Revvity from $102.00 to $107.00 and gave the company an “equal weight” rating in a research note on Monday, December 15th. Guggenheim assumed coverage on shares of Revvity in a research note on Wednesday, October 15th. They set a “neutral” rating on the stock. Finally, Bank of America lowered shares of Revvity from a “buy” rating to a “neutral” rating and set a $110.00 price objective on the stock. in a report on Monday, December 15th. Six equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $115.25.

Revvity Trading Down 1.8%

Shares of NYSE RVTY opened at $103.13 on Thursday. 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 stock’s 50 day moving average price is $97.65 and its two-hundred day moving average price is $93.97. Revvity Inc. has a 52-week low of $81.36 and a 52-week high of $128.29. The stock has a market capitalization of $11.69 billion, a P/E ratio of 51.82, a PEG ratio of 3.21 and a beta of 1.05.

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

Revvity Announces Dividend

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

Revvity announced that its Board of Directors has authorized a share repurchase program on Monday, October 27th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 8.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

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.