Bank of Montreal Can Boosts Holdings in Revvity Inc. $RVTY

Bank of Montreal Can grew its stake in shares of Revvity Inc. (NYSE:RVTY) by 1.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 128,907 shares of the company’s stock after purchasing an additional 1,299 shares during the period. Bank of Montreal Can owned approximately 0.11% of Revvity worth $12,468,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. boosted its position in Revvity by 138.8% during the 2nd quarter. UMB Bank n.a. now owns 406 shares of the company’s stock valued at $39,000 after acquiring an additional 236 shares in the last quarter. CVA Family Office LLC lifted its stake in shares of Revvity by 79.0% in the 2nd quarter. CVA Family Office LLC now owns 410 shares of the company’s stock valued at $40,000 after purchasing an additional 181 shares during the period. New Age Alpha Advisors LLC bought a new stake in shares of Revvity during the first quarter valued at approximately $44,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Revvity by 25.3% during the first quarter. Caitong International Asset Management Co. Ltd now owns 694 shares of the company’s stock valued at $73,000 after purchasing an additional 140 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC bought a new position in Revvity in the first quarter worth $75,000. 86.65% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Raymond James Financial restated an “outperform” rating and set a $115.00 target price (down previously from $120.00) on shares of Revvity in a report on Tuesday, July 29th. Wall Street Zen cut shares of Revvity from a “buy” rating to a “hold” rating in a research report on Sunday, August 3rd. Bank of America cut their price objective on shares of Revvity from $110.00 to $99.00 and set a “buy” rating on the stock in a report on Monday, September 22nd. Barclays lifted their target price on shares of Revvity from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Finally, Guggenheim began coverage on Revvity in a research report on Wednesday, October 15th. They issued a “neutral” rating on the stock. Eight equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $114.75.

Revvity Stock Performance

RVTY stock opened at $90.69 on Friday. The stock’s 50 day simple moving average is $89.84 and its 200 day simple moving average is $92.29. The company has a current ratio of 1.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.36. Revvity Inc. has a 12-month low of $81.36 and a 12-month high of $128.29. The stock has a market capitalization of $10.28 billion, a PE ratio of 45.57, a price-to-earnings-growth ratio of 3.15 and a beta of 1.01.

Revvity (NYSE:RVTY) last posted its quarterly earnings results on Monday, October 27th. The company reported $1.18 earnings per share 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 analysts’ expectations of $699.75 million. Revvity had a return on equity of 7.52% and a net margin of 8.44%.The company’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.28 earnings per share. Revvity has set its FY 2025 guidance at 4.900-5.000 EPS. As a group, research analysts forecast that Revvity Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity announced that its Board of Directors has initiated a share repurchase plan on Monday, October 27th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 8.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

Revvity Dividend Announcement

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

Revvity Company Profile

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.