Bank of America Corp DE Acquires New Stake in Revvity Inc. $RVTY

Key Points

• Bank of America acquired 782,997 Revvity shares worth approximately $87.1 million in the second quarter, representing about 0.70% of the company. Institutional investors collectively own 86.65% of Revvity.
• Analyst sentiment is mixed, with four Buy ratings and fourteen Hold ratings; the consensus rating is Hold, with a $116.57 price target. Revvity shares recently opened at $143.60, near their 52-week high of $149.52.
• Revvity exceeded quarterly expectations, reporting $1.41 in adjusted EPS and $729.69 million in revenue, though revenue declined 1.3% year over year. The company also declared a quarterly dividend of $0.07 per share, yielding approximately 0.2%.

Bank of America Corp DE acquired a new position in shares of Revvity Inc. (NYSE:RVTY - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 782,997 shares of the company's stock, valued at approximately $87,116,000. Bank of America Corp DE owned approximately 0.70% of Revvity at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ascentis Independent Advisors acquired a new position in shares of Revvity in the first quarter valued at approximately $29,000. SJS Investment Consulting Inc. grew its stake in Revvity by 5,210.0% in the 1st quarter. SJS Investment Consulting Inc. now owns 531 shares of the company's stock worth $47,000 after acquiring an additional 521 shares during the period. Global Retirement Partners LLC purchased a new stake in Revvity in the 2nd quarter worth approximately $51,000. Summit Securities Group LLC raised its holdings in Revvity by 294.6% in the 1st quarter. Summit Securities Group LLC now owns 663 shares of the company's stock valued at $58,000 after acquiring an additional 495 shares during the last quarter. Finally, Contravisory Investment Management Inc. purchased a new position in shares of Revvity during the 1st quarter worth $66,000. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Revvity

In other news, insider Tajinder Vohra sold 7,330 shares of the firm's stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $140.88, for a total value of $1,032,650.40. Following the sale, the insider directly owned 6,635 shares of the company's stock, valued at approximately $934,738.80. This trade represents a 52.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.85% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RVTY. Royal Bank Of Canada initiated coverage on Revvity in a research report on Tuesday, September 1st. They set a "sector perform" rating and a $135.00 target price on the stock. Weiss Ratings raised shares of Revvity from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, July 30th. Wall Street Zen downgraded shares of Revvity from a "buy" rating to a "hold" rating in a report on Sunday, August 16th. UBS Group started coverage on shares of Revvity in a research report on Wednesday, September 9th. They set a "neutral" rating and a $140.00 price target for the company. Finally, TD Cowen reiterated a "buy" rating on shares of Revvity in a report on Wednesday, July 15th. Four analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat, Revvity presently has an average rating of "Hold" and a consensus price target of $116.57.

Revvity Stock Performance

Shares of NYSE RVTY opened at $143.60 on Friday. The business's 50-day simple moving average is $120.62 and its 200-day simple moving average is $104.72. Revvity Inc. has a 52 week low of $81.22 and a 52 week high of $149.52. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.50 and a current ratio of 1.80. The firm has a market cap of $16.02 billion, a price-to-earnings ratio of 68.38, a P/E/G ratio of 2.67 and a beta of 1.09.

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

Revvity Announces Dividend

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 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Friday, October 23rd. Revvity's dividend payout ratio is 13.33%.

Revvity Company Profile

Revvity, Inc is a life sciences and diagnostics company that provides technologies, products and services used by researchers, healthcare professionals and laboratories. Its offerings support applications across genomics, proteomics, cellular analysis, drug discovery, disease research and laboratory testing.

The company develops and supplies scientific instruments, reagents, consumables, software and workflow solutions. Its portfolio includes platforms for genetic and molecular analysis, imaging, high-throughput screening, biomarker research and single-cell analysis, as well as laboratory solutions used in areas such as reproductive health and newborn screening.

Revvity was established in 2023 following the separation of PerkinElmer's Applied, Food and Enterprise Services businesses from its Precision Diagnostics operations.

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