BlackRock Inc. Makes New Investment in Revvity Inc. $RVTY

Key Points

• BlackRock acquired 7.66 million Revvity shares in the second quarter, valued at approximately $852.1 million and representing a 6.86% stake. Institutional investors collectively own 86.65% of the company.
• Revvity reported quarterly earnings of $1.41 per share, exceeding the $1.21 analyst consensus, while revenue of $729.7 million also surpassed estimates. However, revenue declined 1.3% year over year.
• Shares opened at $124.88, near their 12-month high, while analysts maintained an overall “Hold” rating with an average price target of $108.36. Revvity also announced a quarterly dividend of $0.07 per share, yielding 0.2%.

BlackRock Inc. purchased a new stake in shares of Revvity Inc. (NYSE:RVTY - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 7,658,369 shares of the company's stock, valued at approximately $852,070,000. BlackRock Inc. owned about 6.86% of Revvity as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. New Mexico Educational Retirement Board raised its holdings in shares of Revvity by 1.9% during the fourth quarter. New Mexico Educational Retirement Board now owns 5,416 shares of the company's stock valued at $524,000 after acquiring an additional 100 shares in the last quarter. Allworth Financial LP increased its position in Revvity by 8.9% during the 4th quarter. Allworth Financial LP now owns 1,275 shares of the company's stock valued at $123,000 after purchasing an additional 104 shares during the period. EverSource Wealth Advisors LLC increased its position in Revvity by 17.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 749 shares of the company's stock valued at $66,000 after purchasing an additional 109 shares during the period. HighTower Advisors LLC increased its position in Revvity by 2.6% during the 4th quarter. HighTower Advisors LLC now owns 5,141 shares of the company's stock valued at $497,000 after purchasing an additional 129 shares during the period. Finally, Cary Street Partners Financial LLC raised its holdings in Revvity by 1.6% in the 4th quarter. Cary Street Partners Financial LLC now owns 8,941 shares of the company's stock worth $865,000 after purchasing an additional 141 shares in the last quarter. Institutional investors own 86.65% of the company's stock.

Revvity Trading Up 0.6%

Revvity stock opened at $124.88 on Friday. Revvity Inc. has a 12-month low of $81.22 and a 12-month high of $124.97. The firm has a market capitalization of $13.94 billion, a price-to-earnings ratio of 59.47, a P/E/G ratio of 2.27 and a beta of 1.07. The firm has a 50 day moving average of $111.45 and a 200 day moving average of $100.37. The company has a current ratio of 1.80, a quick ratio of 1.50 and a debt-to-equity ratio of 0.36.

Revvity (NYSE:RVTY - Get Free Report) last released 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 firm had revenue of $729.69 million during the quarter, compared to analyst estimates of $702.96 million. During the same quarter in the prior year, the company posted $1.18 earnings per share. The business's quarterly revenue 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, research analysts predict that Revvity Inc. will post 5.36 earnings per share for the current year.

Revvity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 23rd will be paid 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, October 23rd. Revvity's payout ratio is presently 13.33%.

Analysts Set New Price Targets

Several equities analysts have commented on RVTY shares. Wall Street Zen lowered Revvity from a "buy" rating to a "hold" rating in a research report on Sunday, August 16th. Barclays upped their target price 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. Stifel Nicolaus lowered their price target on shares of Revvity from $110.00 to $100.00 and set a "hold" rating for the company in a research report on Wednesday, May 6th. Weiss Ratings raised shares of Revvity from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, July 30th. Finally, Evercore reaffirmed an "outperform" rating on shares of Revvity in a research note on Wednesday, August 5th. Three research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price 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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