King Luther Capital Management Corp Has $10.45 Million Stock Position in Revvity Inc. $RVTY

King Luther Capital Management Corp cut its holdings in shares of Revvity Inc. (NYSE:RVTY) by 34.3% in the 3rd quarter, Holdings Channel reports. The firm owned 119,216 shares of the company’s stock after selling 62,125 shares during the period. King Luther Capital Management Corp’s holdings in Revvity were worth $10,449,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. EdgePoint Investment Group Inc. boosted its stake in Revvity by 26.7% in the second quarter. EdgePoint Investment Group Inc. now owns 6,789,660 shares of the company’s stock valued at $656,696,000 after buying an additional 1,428,813 shares in the last quarter. Invesco Ltd. increased its holdings in Revvity by 25.8% in the 2nd quarter. Invesco Ltd. now owns 2,207,202 shares of the company’s stock worth $213,481,000 after purchasing an additional 452,343 shares in the last quarter. Primecap Management Co. CA raised its position in Revvity by 18.7% in the second quarter. Primecap Management Co. CA now owns 1,359,641 shares of the company’s stock valued at $131,504,000 after purchasing an additional 214,056 shares during the last quarter. Norges Bank acquired a new stake in shares of Revvity during the second quarter valued at about $124,574,000. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Revvity by 26.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,160,225 shares of the company’s stock worth $112,217,000 after purchasing an additional 243,689 shares during the last quarter. Institutional investors own 86.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Revvity from $100.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, February 3rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Revvity in a report on Monday, December 29th. Jefferies Financial Group boosted their price objective on shares of Revvity from $100.00 to $105.00 and gave the stock a “hold” rating in a research note on Monday, February 2nd. Bank of America downgraded Revvity from a “buy” rating to a “neutral” rating and set a $110.00 target price on the stock. in a report on Monday, December 15th. Finally, TD Cowen reissued a “hold” rating on shares of Revvity in a research note on Tuesday, February 3rd. Five investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $113.67.

Revvity Stock Performance

Shares of RVTY opened at $99.99 on Friday. The company has a current ratio of 1.68, a quick ratio of 1.40 and a debt-to-equity ratio of 0.36. The firm’s fifty day simple moving average is $103.21 and its two-hundred day simple moving average is $95.94. Revvity Inc. has a 12 month low of $81.36 and a 12 month high of $120.39. The stock has a market capitalization of $11.34 billion, a P/E ratio of 48.07, a price-to-earnings-growth ratio of 2.07 and a beta of 1.07.

Revvity (NYSE:RVTY) last announced its quarterly earnings data on Monday, February 2nd. The company reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.15. Revvity had a return on equity of 7.92% and a net margin of 8.45%.The company had revenue of $772.06 million for the quarter, compared to the consensus estimate of $759.81 million. During the same period in the previous year, the business earned $1.42 EPS. The firm’s 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. As a group, analysts predict that Revvity Inc. will post 4.94 EPS for the current year.

Revvity announced that its board has authorized a stock repurchase plan on Monday, October 27th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 8.7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Revvity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Investors of record on Friday, April 17th 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 is Friday, April 17th. Revvity’s payout ratio is presently 13.46%.

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.