Hsbc Holdings PLC Trims Position in Revvity Inc. $RVTY

Key Points

• Hsbc Holdings PLC cut its stake in Revvity by 26.1% in the fourth quarter, selling 65,374 shares and leaving it with 184,648 shares valued at about $17.9 million.
• Revvity reported better-than-expected quarterly results, posting EPS of $1.06 versus estimates of $1.02 and revenue of $711.1 million, up 7% year over year.
• The company announced a quarterly dividend of $0.07 per share, while analysts currently hold a consensus “Hold” rating with an average price target of $108.92.

Hsbc Holdings PLC lowered its position in shares of Revvity Inc. (NYSE:RVTY - Free Report) by 26.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 184,648 shares of the company's stock after selling 65,374 shares during the quarter. Hsbc Holdings PLC owned approximately 0.17% of Revvity worth $17,904,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Byrne Asset Management LLC lifted its stake in shares of Revvity by 0.9% during the 4th quarter. Byrne Asset Management LLC now owns 11,138 shares of the company's stock worth $1,078,000 after purchasing an additional 100 shares during the period. New Mexico Educational Retirement Board increased its stake in Revvity by 1.9% in the fourth quarter. New Mexico Educational Retirement Board now owns 5,416 shares of the company's stock valued at $524,000 after purchasing an additional 100 shares during the last quarter. Allworth Financial LP lifted its position in Revvity by 8.9% during the fourth quarter. Allworth Financial LP now owns 1,275 shares of the company's stock worth $123,000 after buying an additional 104 shares during the period. Trust Point Inc. lifted its position in Revvity by 3.8% during the fourth quarter. Trust Point Inc. now owns 3,215 shares of the company's stock worth $311,000 after buying an additional 117 shares during the period. Finally, HighTower Advisors LLC boosted its stake in Revvity by 2.6% in the 4th quarter. HighTower Advisors LLC now owns 5,141 shares of the company's stock worth $497,000 after buying an additional 129 shares during the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

Revvity Stock Down 0.7%

RVTY opened at $112.15 on Wednesday. Revvity Inc. has a 1 year low of $81.22 and a 1 year high of $118.30. The firm has a 50 day moving average price of $100.42 and a 200 day moving average price of $98.36. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 1.72. The company has a market cap of $12.51 billion, a PE ratio of 53.66, a price-to-earnings-growth ratio of 2.47 and a beta of 1.09.

Revvity (NYSE:RVTY - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported $1.06 earnings per share (EPS) 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 company had revenue of $711.12 million during the quarter, compared to the consensus estimate of $704.07 million. During the same period in the previous year, the firm earned $1.01 earnings per share. Revvity's revenue for the quarter was up 7.0% on a year-over-year basis. Revvity has set its FY 2026 guidance at 5.200-5.300 EPS. Sell-side analysts expect that Revvity Inc. will post 5.25 earnings per share for the current year.

Revvity Announces Dividend

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

Analysts Set New Price Targets

Several analysts have commented on the company. Stifel Nicolaus lowered their price target on Revvity from $110.00 to $100.00 and set a "hold" rating for the company in a report on Wednesday, May 6th. Robert W. Baird set a $117.00 target price on shares of Revvity in a research report on Wednesday, May 6th. Barclays boosted their target price on shares of Revvity from $95.00 to $105.00 and gave the company an "equal weight" rating in a report on Thursday, May 7th. The Goldman Sachs Group dropped their price target on shares of Revvity from $110.00 to $95.00 and set a "neutral" rating for the company in a research report on Tuesday, April 14th. Finally, Sanford C. Bernstein started coverage on shares of Revvity in a research note on Friday, June 26th. They set a "market perform" rating and a $115.00 price target on the stock. Four investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price 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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