Allspring Global Investments Holdings LLC Purchases 507,674 Shares of Revvity Inc. $RVTY

Key Points

• Allspring Global Investments increased its stake in Revvity by 29% in the first quarter, buying 507,674 additional shares and bringing its holdings to 2.26 million shares worth about $198.6 million.
• Revvity reported better-than-expected quarterly results, with EPS of $1.06 versus the $1.02 consensus and revenue of $711.1 million, up 7% year over year.
• The company declared a quarterly dividend of $0.07 per share, while analysts currently rate the stock a consensus Hold with an average price target of $108.92.

Allspring Global Investments Holdings LLC grew its position in Revvity Inc. (NYSE:RVTY - Free Report) by 29.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,259,286 shares of the company's stock after buying an additional 507,674 shares during the period. Allspring Global Investments Holdings LLC owned 2.02% of Revvity worth $198,636,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its position in Revvity by 5.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,606,637 shares of the company's stock worth $832,693,000 after purchasing an additional 434,570 shares during the period. Janus Henderson Group PLC grew its position in shares of Revvity by 7.0% during the 4th quarter. Janus Henderson Group PLC now owns 8,161,171 shares of the company's stock worth $789,595,000 after buying an additional 533,912 shares during the period. Morgan Stanley grew its position in shares of Revvity by 29.6% during the 4th quarter. Morgan Stanley now owns 2,844,464 shares of the company's stock worth $275,202,000 after buying an additional 650,083 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Revvity by 22.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,612,116 shares of the company's stock worth $252,727,000 after buying an additional 486,159 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of Revvity by 15.7% during the third quarter. Invesco Ltd. now owns 2,553,515 shares of the company's stock worth $223,816,000 after buying an additional 346,313 shares during the last quarter. Institutional investors own 86.65% of the company's stock.

Revvity Stock Up 0.3%

NYSE:RVTY opened at $111.65 on Friday. The stock has a 50-day simple moving average of $103.38 and a 200 day simple moving average of $99.08. Revvity Inc. has a 52-week low of $81.22 and a 52-week high of $118.30. The company has a market cap of $12.46 billion, a PE ratio of 53.42, a PEG ratio of 2.19 and a beta of 1.09. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 1.72.

Revvity (NYSE:RVTY - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $1.02 by $0.04. Revvity had a return on equity of 8.00% and a net margin of 8.26%.The firm had revenue of $711.12 million for the quarter, compared to analysts' expectations of $704.07 million. During the same quarter in the previous year, the business posted $1.01 EPS. The business's quarterly revenue was up 7.0% compared to the same quarter last year. Revvity has set its FY 2026 guidance at 5.200-5.300 EPS. On average, sell-side analysts expect that Revvity Inc. will post 5.25 EPS for the current fiscal year.

Revvity Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 7th. Stockholders of record on Friday, July 17th will be paid 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, July 17th. Revvity's dividend payout ratio is currently 13.40%.

Analyst Ratings Changes

Several equities analysts recently weighed in on RVTY shares. JPMorgan Chase & Co. cut their price objective on shares of Revvity from $96.00 to $90.00 and set a "neutral" rating on the stock in a report on Wednesday, May 6th. TD Cowen reiterated a "buy" rating on shares of Revvity in a research report on Wednesday. Weiss Ratings raised Revvity from a "sell (d)" rating to a "sell (d+)" rating in a research note on Wednesday, June 24th. Stifel Nicolaus reduced their price target on Revvity from $110.00 to $100.00 and set a "hold" rating on the stock in a research report on Wednesday, May 6th. Finally, Robert W. Baird set a $117.00 price objective on Revvity in a research note on Wednesday, May 6th. Four research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $108.92.

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.

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