Revvity Inc. $RVTY Stock: Allspring Global Investments Holdings LLC Boosts Holdings

Key Points

• Allspring Global Investments increased its Revvity stake by 0.9% in the third quarter, adding 21,124 shares to hold about 2.25 million shares worth $335.2 million. Institutional investors collectively own 86.65% of the company.
• Revvity reported quarterly EPS of $1.38, beating the $1.30 consensus estimate, while revenue of $728.9 million topped forecasts and rose 4.3% year over year.
• Analysts’ consensus rating is Hold, with an average price target of $133.86. Revvity also declared a quarterly dividend of $0.07 per share, equivalent to a 0.2% yield.

Allspring Global Investments Holdings LLC grew its position in shares of Revvity Inc. (NYSE:RVTY - Free Report) by 0.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,248,998 shares of the company's stock after purchasing an additional 21,124 shares during the period. Allspring Global Investments Holdings LLC owned approximately 2.02% of Revvity worth $335,236,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. EdgePoint Investment Group Inc. increased its stake in Revvity by 3.1% during the first quarter. EdgePoint Investment Group Inc. now owns 8,800,863 shares of the company's stock worth $771,044,000 after purchasing an additional 265,204 shares during the period. Jupiter Topco LLC acquired a new position in shares of Revvity in the second quarter valued at approximately $961,017,000. Janus Henderson Group PLC grew its holdings in shares of Revvity by 2.3% in the first quarter. Janus Henderson Group PLC now owns 8,348,127 shares of the company's stock valued at $731,386,000 after purchasing an additional 186,956 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Revvity in the second quarter valued at approximately $852,070,000. Finally, State Street Corp increased its stake in Revvity by 0.8% during the 2nd quarter. State Street Corp now owns 4,342,739 shares of the company's stock worth $483,173,000 after buying an additional 32,426 shares during the period. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Revvity Price Performance

Revvity stock opened at $155.32 on Monday. The company has a current ratio of 2.65, a quick ratio of 2.10 and a debt-to-equity ratio of 0.36. The company has a fifty day simple moving average of $147.60 and a 200-day simple moving average of $113.25. The stock has a market cap of $17.33 billion, a P/E ratio of 68.73, a price-to-earnings-growth ratio of 2.72 and a beta of 1.08. Revvity Inc. has a 12-month low of $81.22 and a 12-month high of $171.74.

Revvity (NYSE:RVTY - Get Free Report) last posted its earnings results on Tuesday, November 3rd. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.30 by $0.08. Revvity had a return on equity of 8.64% and a net margin of 8.61%. The firm had revenue of $728.90 million for the quarter, compared to analyst estimates of $694.73 million. During the same quarter in the prior year, the company posted $1.18 earnings per share. Revvity's revenue for the quarter was up 4.3% compared to the same quarter last year. Equities analysts expect that Revvity Inc. will post 5.42 EPS for the current fiscal year.

Revvity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 12th. Shareholders of record on Friday, January 22nd will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Friday, January 22nd. Revvity's payout ratio is 12.39%.

Insider Activity

In other news, insider Maxwell Krakowiak sold 1,631 shares of the firm's stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $144.53, for a total transaction of $235,728.43. Following the sale, the insider owned 14,781 shares of the company's stock, valued at approximately $2,136,297.93. This trade represents a 9.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tajinder S. Vohra sold 7,330 shares of the firm's stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $140.88, for a total value of $1,032,650.40. Following the sale, the insider directly owned 6,635 shares in the company, valued at $934,738.80. This trade represents a 52.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 9,045 shares of company stock valued at $1,281,439. Insiders own 0.85% of the company's stock.

Analyst Upgrades and Downgrades

RVTY has been the subject of several recent research reports. KeyCorp raised their price target on shares of Revvity from $125.00 to $165.00 and gave the company an "overweight" rating in a research report on Friday, September 4th. Royal Bank Of Canada upped their price objective on Revvity from $135.00 to $172.00 and gave the stock a "sector perform" rating in a research report on Wednesday, November 4th. Bank of America reiterated a "neutral" rating on shares of Revvity in a research note on Wednesday. Cfra upgraded Revvity from a "hold" rating to a "buy" rating in a research note on Wednesday, November 4th. Finally, Wall Street Zen lowered Revvity from a "buy" rating to a "hold" rating in a report on Sunday, August 16th. Six investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $133.86.

Revvity Profile

Revvity, Inc develops and supplies products and services for life sciences research and clinical diagnostics. Its offerings include instruments, reagents, software and related services used by pharmaceutical and biotechnology companies, academic and government research institutions, hospitals and clinical laboratories.

The company's work spans areas such as drug discovery and development, genetic testing, newborn screening and other diagnostic applications. Its technologies help researchers and healthcare providers analyze biological samples and generate information used in research and patient care.

Revvity adopted its current name in 2023, following a restructuring of PerkinElmer that left the life sciences and diagnostics businesses under the Revvity name.

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