The Manufacturers Life Insurance Company Has $30.55 Million Position in Revvity Inc. $RVTY

Key Points

• The Manufacturers Life Insurance Company increased its Revvity stake by 7.2% in the first quarter to 348,660 shares worth approximately $30.55 million. Institutional investors and hedge funds collectively own 86.65% of the company.
• Analyst sentiment remains cautious, with three Buy, eleven Hold and one Sell rating. The consensus rating is Hold, with an average price target of $108.36 after several firms reduced their targets.
• Revvity reported first-quarter earnings of $1.06 per share, beating estimates of $1.02, while revenue rose 7% year over year to $711.12 million. Shares opened at $112.79, near their 52-week high of $118.30.

The Manufacturers Life Insurance Company raised its stake in Revvity Inc. (NYSE:RVTY - Free Report) by 7.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 348,660 shares of the company's stock after buying an additional 23,509 shares during the period. The Manufacturers Life Insurance Company owned about 0.31% of Revvity worth $30,546,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quantinno Capital Management LP raised its position in shares of Revvity by 449.7% during the first quarter. Quantinno Capital Management LP now owns 307,511 shares of the company's stock worth $26,941,000 after acquiring an additional 251,573 shares during the last quarter. SummitTX Capital L.P. bought a new stake in Revvity in the first quarter valued at approximately $1,009,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Revvity by 58.9% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 7,122 shares of the company's stock valued at $624,000 after acquiring an additional 2,641 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in Revvity by 33.4% during the 1st quarter. Public Employees Retirement System of Ohio now owns 98,237 shares of the company's stock valued at $8,607,000 after purchasing an additional 24,591 shares during the period. Finally, Bank of Nova Scotia increased its position in Revvity by 436.4% during the 1st quarter. Bank of Nova Scotia now owns 58,546 shares of the company's stock valued at $5,129,000 after purchasing an additional 47,631 shares during the period. Institutional investors and hedge funds own 86.65% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. 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 report on Wednesday, May 6th. Wall Street Zen lowered shares of Revvity from a "buy" rating to a "hold" rating in a research note on Saturday, April 18th. The Goldman Sachs Group decreased their price objective 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. JPMorgan Chase & Co. lowered their target price on shares of Revvity from $96.00 to $90.00 and set a "neutral" rating for the company in a research note on Wednesday, May 6th. Finally, 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. Three analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $108.36.

Revvity Trading Down 0.7%

Shares of Revvity stock opened at $112.79 on Friday. The stock has a market capitalization of $12.58 billion, a PE ratio of 53.96, a price-to-earnings-growth ratio of 2.23 and a beta of 1.09. Revvity Inc. has a 52 week low of $81.22 and a 52 week high of $118.30. The stock has a 50 day moving average price of $106.51 and a two-hundred day moving average price of $99.91. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.41 and a current ratio of 1.72.

Revvity (NYSE:RVTY - Get Free Report) last issued its earnings results on Tuesday, May 5th. The company reported $1.06 earnings per share for the quarter, topping analysts' consensus estimates of $1.02 by $0.04. Revvity had a return on equity of 8.00% and a net margin of 8.26%.The company had revenue of $711.12 million for the quarter, compared to analyst estimates of $704.07 million. During the same period in the prior 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. As a group, equities analysts anticipate that Revvity Inc. will post 5.25 earnings per share for the current fiscal year.

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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