Bank of New York Mellon Corp Sells 21,026 Shares of Revvity Inc. $RVTY

Bank of New York Mellon Corp lowered its position in Revvity Inc. (NYSE:RVTY - Free Report) by 3.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 637,406 shares of the company's stock after selling 21,026 shares during the quarter. Bank of New York Mellon Corp owned about 0.57% of Revvity worth $55,843,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its position in Revvity by 127.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,751,612 shares of the company's stock worth $171,921,000 after purchasing an additional 980,142 shares during the period. Norges Bank purchased a new position in shares of Revvity during the fourth quarter valued at approximately $80,382,000. Morgan Stanley raised its holdings in shares of 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 buying an additional 650,083 shares during the period. Janus Henderson Group PLC lifted its stake 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 acquiring an additional 533,912 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake 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 worth $252,727,000 after acquiring an additional 486,159 shares during the last quarter. Institutional investors own 86.65% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on RVTY shares. JPMorgan Chase & Co. cut their price target 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. Sanford C. Bernstein began coverage on shares of Revvity in a report on Friday, June 26th. They set a "market perform" rating and a $115.00 price objective for the company. Barclays boosted their price objective on shares of Revvity from $95.00 to $105.00 and gave the company an "equal weight" rating in a research report on Thursday, May 7th. The Goldman Sachs Group lowered their price target on Revvity from $110.00 to $95.00 and set a "neutral" rating for the company in a report on Tuesday, April 14th. Finally, Zacks Research downgraded Revvity from a "hold" rating to a "strong sell" rating in a report on Monday, July 6th. Four equities 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. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $108.92.

Revvity Stock Up 2.4%

Shares of Revvity stock opened at $113.21 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.72 and a quick ratio of 1.41. The stock has a market cap of $12.63 billion, a price-to-earnings ratio of 54.17, a PEG ratio of 2.18 and a beta of 1.09. The firm's 50-day moving average is $104.57 and its two-hundred day moving average is $99.53. Revvity Inc. has a 1 year low of $81.22 and a 1 year high of $118.30.

Revvity (NYSE:RVTY - Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.04. Revvity had a net margin of 8.26% and a return on equity of 8.00%. The firm had revenue of $711.12 million during the quarter, compared to analysts' expectations of $704.07 million. During the same quarter in the prior year, the company earned $1.01 EPS. The company's 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. As a group, research analysts expect that Revvity Inc. will post 5.25 earnings per share for the current fiscal year.

Revvity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 17th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Friday, July 17th. Revvity's dividend payout ratio (DPR) is 13.40%.

Revvity Company 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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