Legal & General Group Plc Acquires 8,407 Shares of Revvity Inc. $RVTY

by · The Cerbat Gem

Legal & General Group Plc raised its holdings in shares of Revvity Inc. (NYSE:RVTY – Free Report) by 1.3% in the second quarter, Holdings Channel reports. The institutional investor owned 670,190 shares of the company’s stock after buying an additional 8,407 shares during the quarter. Legal & General Group Plc’s holdings in Revvity were worth $64,821,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of RVTY. Family Legacy Financial Solutions LLC acquired a new position in Revvity during the 2nd quarter valued at $5,351,000. Czech National Bank increased its holdings in shares of Revvity by 3.1% during the 2nd quarter. Czech National Bank now owns 28,811 shares of the company’s stock worth $2,787,000 after purchasing an additional 858 shares during the period. Aviva PLC increased its holdings in shares of Revvity by 5.0% during the 2nd quarter. Aviva PLC now owns 89,527 shares of the company’s stock worth $8,659,000 after purchasing an additional 4,303 shares during the period. LPL Financial LLC raised its position in shares of Revvity by 9.9% during the first quarter. LPL Financial LLC now owns 29,982 shares of the company’s stock valued at $3,172,000 after buying an additional 2,702 shares during the last quarter. Finally, Patton Fund Management Inc. bought a new stake in shares of Revvity in the second quarter valued at about $226,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

Revvity Price Performance

Revvity stock opened at $105.65 on Wednesday. The business has a 50 day simple moving average of $92.17 and a 200 day simple moving average of $92.44. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.75 and a quick ratio of 2.75. The company has a market capitalization of $11.98 billion, a PE ratio of 53.09, a price-to-earnings-growth ratio of 3.15 and a beta of 1.01. Revvity Inc. has a one year low of $81.36 and a one year high of $128.29.

Revvity (NYSE:RVTY – Get Free Report) last released its quarterly earnings data on Monday, October 27th. The company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.04. The firm had revenue of $698.95 million during the quarter, compared to analyst estimates of $699.75 million. Revvity had a return on equity of 7.52% and a net margin of 8.44%.The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.28 earnings per share. Revvity has set its FY 2025 guidance at 4.900-5.000 EPS. On average, sell-side analysts forecast that Revvity Inc. will post 4.94 EPS for the current fiscal year.

Revvity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 6th. Investors of record on Friday, January 16th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, January 16th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.3%. Revvity’s dividend payout ratio (DPR) is 14.07%.

Revvity declared that its board has approved a share buyback plan on Monday, October 27th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 8.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Bank of America lowered their price target on Revvity from $110.00 to $99.00 and set a “buy” rating on the stock in a research note on Monday, September 22nd. Wall Street Zen lowered Revvity from a “buy” rating to a “hold” rating in a report on Sunday, August 3rd. Guggenheim assumed coverage on Revvity in a research report on Wednesday, October 15th. They set a “neutral” rating on the stock. Barclays upped their target price on Revvity from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Tuesday, October 28th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Revvity in a research note on Wednesday, November 19th. Eight investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.75.

Check Out Our Latest Research Report on RVTY

Revvity Profile

(Free Report)

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.

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