Primecap Management Co. CA Takes Position in Revvity Inc. $RVTY

Key Points

• Primecap Management initiated a position in Revvity by purchasing 853,150 shares valued at approximately $94.9 million, while institutional investors collectively own 86.65% of the company.
• Analyst sentiment remains cautious, with three Buy ratings and twelve Hold ratings producing a consensus “Hold” rating and an average price target of $108.36.
• Revvity exceeded quarterly expectations with adjusted EPS of $1.41 and revenue of $729.69 million, though revenue declined 1.3% year over year. The company also declared a quarterly dividend of $0.07 per share, yielding approximately 0.2%.

Primecap Management Co. CA purchased a new position in shares of Revvity Inc. (NYSE:RVTY - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 853,150 shares of the company's stock, valued at approximately $94,921,000. Primecap Management Co. CA owned approximately 0.76% of Revvity as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. bought a new position in Revvity in the 2nd quarter valued at approximately $852,070,000. Norges Bank acquired a new stake in Revvity in the fourth quarter valued at approximately $80,382,000. Bank of New York Mellon Corp bought a new stake in shares of Revvity during the second quarter worth $78,766,000. Morgan Stanley grew its stake in shares of Revvity by 29.6% during 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 last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of Revvity by 7.0% during the fourth quarter. Janus Henderson Group PLC now owns 8,161,171 shares of the company's stock worth $789,595,000 after buying an additional 533,912 shares in the last quarter. 86.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Sanford C. Bernstein started coverage on Revvity in a report on Friday, June 26th. They set a "market perform" rating and a $115.00 price objective on the stock. Wolfe Research started coverage on shares of Revvity in a research note on Tuesday, June 2nd. They issued a "peer perform" rating on the stock. Wall Street Zen downgraded Revvity from a "buy" rating to a "hold" rating in a report on Sunday, August 16th. Stifel Nicolaus lowered their target price on Revvity from $110.00 to $100.00 and set a "hold" rating for the company in a research report on Wednesday, May 6th. Finally, TD Cowen reaffirmed a "buy" rating on shares of Revvity in a research report on Wednesday, July 15th. Three analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, Revvity presently has a consensus rating of "Hold" and an average price target of $108.36.

Revvity Stock Up 1.5%

Revvity stock opened at $124.79 on Wednesday. The firm has a market cap of $13.93 billion, a price-to-earnings ratio of 59.42, a PEG ratio of 2.24 and a beta of 1.07. Revvity Inc. has a 52-week low of $81.22 and a 52-week high of $124.97. 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 50 day moving average price of $112.37 and a two-hundred day moving average price of $100.63.

Revvity (NYSE:RVTY - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $1.41 EPS for the quarter, beating analysts' consensus estimates of $1.21 by $0.20. Revvity had a net margin of 8.16% and a return on equity of 8.34%. The company had revenue of $729.69 million for the quarter, compared to analyst estimates of $702.96 million. During the same period in the prior year, the firm posted $1.18 EPS. The company's quarterly revenue was down 1.3% on a year-over-year basis. Revvity has set its FY 2026 guidance at 5.300-5.400 EPS. Equities analysts predict that Revvity Inc. will post 5.36 EPS for the current 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 given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, October 23rd. This represents a $0.28 dividend on an annualized basis and a yield of 0.2%. Revvity's dividend payout ratio is 13.33%.

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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