Royal Bank of Canada Boosts Stake in Revvity Inc. $RVTY

Royal Bank of Canada lifted its position in Revvity Inc. (NYSE:RVTY) by 10.7% in the 1st quarter, Holdings Channel reports. The fund owned 73,721 shares of the company’s stock after acquiring an additional 7,138 shares during the quarter. Royal Bank of Canada’s holdings in Revvity were worth $6,458,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in RVTY. Norges Bank bought a new stake in shares of Revvity during the fourth quarter valued at approximately $80,382,000. Morgan Stanley raised its holdings in Revvity by 29.6% in the fourth quarter. Morgan Stanley now owns 2,844,464 shares of the company’s stock worth $275,202,000 after purchasing an additional 650,083 shares in the last quarter. Janus Henderson Group PLC lifted its position in Revvity by 7.0% during the fourth quarter. Janus Henderson Group PLC now owns 8,161,171 shares of the company’s stock valued at $789,595,000 after buying an additional 533,912 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Revvity by 29.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,259,286 shares of the company’s stock valued at $198,636,000 after buying an additional 507,674 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Revvity by 22.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,612,116 shares of the company’s stock valued at $252,727,000 after buying an additional 486,159 shares in the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Revvity Stock Down 0.4%

NYSE:RVTY opened at $115.57 on Wednesday. The firm has a market cap of $12.89 billion, a P/E ratio of 55.03, a P/E/G ratio of 2.11 and a beta of 1.07. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.50 and a current ratio of 1.80. Revvity Inc. has a fifty-two week low of $81.22 and a fifty-two week high of $118.30. The firm has a 50-day simple moving average of $108.62 and a two-hundred day simple moving average of $99.96.

Revvity (NYSE:RVTY) last issued its earnings results on Tuesday, August 4th. The company reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.20. The business had revenue of $729.69 million during the quarter, compared to analysts’ expectations of $702.96 million. Revvity had a net margin of 8.16% and a return on equity of 8.34%. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.18 earnings per share. Revvity has set its FY 2026 guidance at 5.300-5.400 EPS. Analysts predict that Revvity Inc. will post 5.36 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 23rd will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Friday, October 23rd. Revvity’s payout ratio is presently 13.33%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RVTY. Evercore reaffirmed an “outperform” rating on shares of Revvity in a research report on Wednesday, August 5th. Robert W. Baird set a $117.00 price target on shares of Revvity in a research report on Wednesday, May 6th. The Goldman Sachs Group dropped their price objective on shares of Revvity from $110.00 to $95.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 14th. Wall Street Zen upgraded shares of Revvity from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Stifel Nicolaus decreased their target price on shares of Revvity from $110.00 to $100.00 and set a “hold” rating for the company in a research note on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, Revvity currently has an average rating of “Hold” and a consensus price target of $108.36.

About Revvity

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.