Revvity Inc. $RVTY Shares Bought by Northern Trust Corp

Key Points

• Northern Trust Corp increased its stake in Revvity Inc. by 3.1%, owning approximately 1,285,990 shares valued at $136.06 million as of its latest SEC filing.
• Several hedge funds, including Vanguard Group and Janus Henderson Group, have also adjusted their holdings in Revvity, indicating significant institutional interest with 86.65% of the stock owned by institutional investors.
• Wall Street analysts have mixed opinions on Revvity, with price targets being lowered by firms like JPMorgan Chase and Stifel Nicolaus, while others, such as UBS Group, upgraded the stock to a “buy” rating.

Northern Trust Corp increased its holdings in shares of Revvity Inc. (NYSE:RVTY - Free Report) by 3.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,285,990 shares of the company's stock after purchasing an additional 38,458 shares during the quarter. Northern Trust Corp owned 1.09% of Revvity worth $136,058,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of RVTY. Nomura Holdings Inc. purchased a new stake in Revvity during the fourth quarter worth approximately $447,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of Revvity by 3.8% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,139 shares of the company's stock valued at $544,000 after acquiring an additional 187 shares during the period. Ritholtz Wealth Management acquired a new position in shares of Revvity during the 1st quarter valued at $210,000. Amalgamated Bank boosted its position in Revvity by 1.0% during the 1st quarter. Amalgamated Bank now owns 23,777 shares of the company's stock worth $2,516,000 after purchasing an additional 227 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Revvity by 11.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,415 shares of the company's stock valued at $1,417,000 after purchasing an additional 1,343 shares in the last quarter. Hedge funds and other institutional investors own 86.65% of the company's stock.

Revvity Stock Down 0.5%

Shares of Revvity stock traded down $0.45 on Thursday, hitting $88.14. 171,281 shares of the company's stock traded hands, compared to its average volume of 1,177,515. Revvity Inc. has a 52-week low of $85.12 and a 52-week high of $129.50. The company has a quick ratio of 2.75, a current ratio of 3.33 and a debt-to-equity ratio of 0.43. The stock has a market cap of $10.23 billion, a P/E ratio of 37.31, a PEG ratio of 2.45 and a beta of 0.91. The firm's 50-day moving average is $94.31 and its 200 day moving average is $98.44.

Revvity (NYSE:RVTY - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.04. Revvity had a net margin of 10.19% and a return on equity of 7.66%. The firm had revenue of $720.28 million for the quarter, compared to analysts' expectations of $711.26 million. During the same period in the prior year, the company posted $1.22 earnings per share. The firm's quarterly revenue was up 4.1% on a year-over-year basis. Revvity has set its FY 2025 guidance at 4.850-4.950 EPS. Equities analysts anticipate that Revvity Inc. will post 4.94 earnings per share for the current year.

Revvity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, October 17th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, October 17th. Revvity's dividend payout ratio is 11.86%.

Wall Street Analyst Weigh In

RVTY has been the topic of a number of recent research reports. Raymond James Financial restated an "outperform" rating and set a $115.00 price objective (down previously from $120.00) on shares of Revvity in a research note on Tuesday, July 29th. Stifel Nicolaus reduced their price target on Revvity from $120.00 to $110.00 and set a "hold" rating on the stock in a research report on Tuesday, July 29th. UBS Group upgraded Revvity from a "neutral" rating to a "buy" rating and decreased their price target for the stock from $145.00 to $115.00 in a report on Thursday, May 1st. Wall Street Zen lowered shares of Revvity from a "buy" rating to a "hold" rating in a research note on Sunday, August 3rd. Finally, Bank of America reduced their target price on shares of Revvity from $116.00 to $110.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Revvity currently has a consensus rating of "Moderate Buy" and an average target price of $120.07.

About Revvity

Revvity, Inc provides health sciences solutions, technologies, and services in the Americas, Europe, and Asia, and internationally. The Life Sciences segment provides instruments, reagents, informatics, software, subscriptions, detection, imaging technologies, warranties, training, and services. Its Diagnostics segment provides instruments, reagents, assay platforms, and software products for the early detection of genetic disorders, such as pregnancy and early childhood, as well as infectious disease testing in the diagnostics market.