Westside Investment Management Inc. Acquires 1,257 Shares of Revvity Inc. $RVTY

Westside Investment Management Inc. raised its holdings in shares of Revvity Inc. (NYSE:RVTY) by 8.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,620 shares of the company’s stock after acquiring an additional 1,257 shares during the period. Westside Investment Management Inc.’s holdings in Revvity were worth $1,511,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. HB Wealth Management LLC grew its position in Revvity by 4.8% during the first quarter. HB Wealth Management LLC now owns 2,494 shares of the company’s stock valued at $264,000 after acquiring an additional 114 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position in 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 acquiring an additional 140 shares during the last quarter. Banque Transatlantique SA grew its position in Revvity by 19.4% during the first quarter. Banque Transatlantique SA now owns 925 shares of the company’s stock valued at $90,000 after acquiring an additional 150 shares during the last quarter. Signaturefd LLC grew its position in Revvity by 9.7% during the first quarter. Signaturefd LLC now owns 1,830 shares of the company’s stock valued at $194,000 after acquiring an additional 162 shares during the last quarter. Finally, CVA Family Office LLC grew its position in Revvity by 79.0% during the second quarter. CVA Family Office LLC now owns 410 shares of the company’s stock valued at $40,000 after acquiring an additional 181 shares during the last quarter. 86.65% of the stock is currently owned by institutional investors.

Revvity Stock Performance

NYSE:RVTY opened at $93.68 on Monday. The stock has a market cap of $10.87 billion, a P/E ratio of 47.07, a price-to-earnings-growth ratio of 3.15 and a beta of 0.98. The firm’s fifty day simple moving average is $89.72 and its 200 day simple moving average is $92.29. Revvity Inc. has a twelve month low of $81.36 and a twelve month high of $129.50. The company has a quick ratio of 2.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.36.

Revvity (NYSE:RVTY) last released its quarterly earnings results on Monday, October 27th. The company reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.04. The business had revenue of $698.95 million for the quarter, compared to analysts’ expectations of $699.75 million. Revvity had a net margin of 8.44% and a return on equity of 7.52%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.28 earnings per share. Revvity has set its FY 2025 guidance at 4.900-5.000 EPS. As a group, research analysts predict that Revvity Inc. will post 4.94 EPS for the current year.

Revvity Dividend Announcement

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

Revvity declared that its Board of Directors has approved a stock repurchase plan on Monday, October 27th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire up to 8.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on RVTY shares. Weiss Ratings cut shares of Revvity from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, October 8th. Barclays raised their target price on shares of Revvity from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Raymond James Financial restated an “outperform” rating and issued a $115.00 target price (down previously from $120.00) on shares of Revvity in a report on Tuesday, July 29th. Bank of America cut their target price 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. Finally, Stifel Nicolaus cut their target price on shares of Revvity from $120.00 to $110.00 and set a “hold” rating on the stock in a report on Tuesday, July 29th. Nine equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $117.00.

About Revvity

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.