282,116 Shares in Revvity Inc. $RVTY Purchased by Legal & General Group Plc

Key Points

• Legal & General Group Plc acquired 282,116 Revvity shares worth approximately $31.4 million in the second quarter, while institutional investors collectively own 86.65% of the company.
• Revvity exceeded quarterly expectations, reporting $1.41 in adjusted earnings per share versus the $1.21 consensus and $729.69 million in revenue, although sales declined 1.3% year over year.
• The stock traded near its 52-week high at $128.88, but analysts maintained a consensus “Hold” rating with an average price target of $108.36; Revvity also declared a $0.07 quarterly dividend.

Legal & General Group Plc acquired a new position in shares of Revvity Inc. (NYSE:RVTY - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 282,116 shares of the company's stock, valued at approximately $31,388,000. Legal & General Group Plc owned approximately 0.25% of Revvity as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp acquired a new stake in shares of Revvity in the 2nd quarter worth $78,766,000. Corient Private Wealth LLC lifted its holdings in shares of Revvity by 985.0% during the fourth quarter. Corient Private Wealth LLC now owns 126,568 shares of the company's stock worth $12,245,000 after purchasing an additional 114,903 shares during the period. California State Teachers Retirement System boosted its holdings in shares of Revvity by 19.8% in the 1st quarter. California State Teachers Retirement System now owns 133,809 shares of the company's stock valued at $11,723,000 after acquiring an additional 22,075 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in Revvity by 6.3% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 426,899 shares of the company's stock valued at $41,302,000 after purchasing an additional 25,233 shares during the last quarter. Finally, Tocqueville Asset Management L.P. purchased a new stake in shares of Revvity in the second quarter worth about $4,791,000. 86.65% of the stock is owned by institutional investors.

Revvity Trading Down 0.6%

NYSE RVTY opened at $128.88 on Friday. 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 one year low of $81.22 and a one year high of $130.07. The firm has a market cap of $14.38 billion, a price-to-earnings ratio of 61.37, a PEG ratio of 2.36 and a beta of 1.07. The firm has a 50 day simple moving average of $114.09 and a 200-day simple moving average of $101.21.

Revvity (NYSE:RVTY - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $1.41 earnings per share for the quarter, topping analysts' consensus estimates of $1.21 by $0.20. Revvity had a return on equity of 8.34% and a net margin of 8.16%.The business had revenue of $729.69 million for the quarter, compared to analyst estimates of $702.96 million. During the same quarter in the prior year, the company earned $1.18 earnings per share. The company's revenue was down 1.3% on a year-over-year basis. Revvity has set its FY 2026 guidance at 5.300-5.400 EPS. Equities research analysts anticipate that Revvity Inc. will post 5.36 EPS for the current fiscal year.

Revvity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 23rd will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.2%. The ex-dividend date is Friday, October 23rd. Revvity's payout ratio is 13.33%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RVTY. Robert W. Baird set a $117.00 price target on shares of Revvity in a report on Wednesday, May 6th. Wolfe Research initiated coverage on Revvity in a research note on Tuesday, June 2nd. They issued a "peer perform" rating on the stock. Barclays boosted their price target on shares of Revvity from $95.00 to $105.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 7th. Weiss Ratings raised Revvity from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, July 30th. Finally, Wall Street Zen cut shares of Revvity from a "buy" rating to a "hold" rating in a research note on Sunday, August 16th. Three equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $108.36.

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.

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