Legal & General Group Plc Acquires Shares of 282,116 Revvity Inc. $RVTY

Legal & General Group Plc bought a new stake in Revvity Inc. (NYSE:RVTY) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 282,116 shares of the company’s stock, valued at approximately $31,388,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. BlackRock Inc. acquired a new position in Revvity in the second quarter valued at $852,070,000. Norges Bank acquired a new stake in shares of Revvity during the fourth quarter worth about $80,382,000. Bank of New York Mellon Corp purchased a new position in shares of Revvity during the second quarter worth about $78,766,000. Morgan Stanley grew its holdings in shares of Revvity by 29.6% during the fourth quarter. Morgan Stanley now owns 2,844,464 shares of the company’s stock worth $275,202,000 after buying an additional 650,083 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in Revvity by 7.0% in the 4th quarter. Janus Henderson Group PLC now owns 8,161,171 shares of the company’s stock valued at $789,595,000 after acquiring an additional 533,912 shares during the period. 86.65% of the stock is owned by hedge funds and other institutional investors.

Revvity Price Performance

Shares of NYSE:RVTY opened at $128.88 on Friday. Revvity Inc. has a 52 week low of $81.22 and a 52 week high of $130.07. The company has a 50-day moving average price of $114.09 and a 200 day moving average price of $101.21. The company has a market cap of $14.38 billion, a P/E ratio of 61.37, a PEG ratio of 2.36 and a beta of 1.07. The company has a quick ratio of 1.50, a current ratio of 1.80 and a debt-to-equity ratio of 0.36.

Revvity (NYSE:RVTY) last issued its earnings results on Tuesday, August 4th. The company reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.20. The business had revenue of $729.69 million during the quarter, compared to the consensus estimate of $702.96 million. Revvity had a return on equity of 8.34% and a net margin of 8.16%.The company’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.18 EPS. Revvity has set its FY 2026 guidance at 5.300-5.400 EPS. Research analysts predict that Revvity Inc. will post 5.36 earnings per share for the current year.

Revvity Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, October 23rd 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, October 23rd. Revvity’s dividend payout ratio is currently 13.33%.

Analysts Set New Price Targets

RVTY has been the subject of several analyst reports. TD Cowen reaffirmed a “buy” rating on shares of Revvity in a research note on Wednesday, July 15th. Robert W. Baird set a $117.00 price target on Revvity in a research note on Wednesday, May 6th. Weiss Ratings raised Revvity from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, July 30th. Sanford C. Bernstein initiated coverage on shares of Revvity in a research report on Friday, June 26th. They issued a “market perform” rating and a $115.00 price objective on the stock. Finally, Wall Street Zen lowered shares of Revvity from a “buy” rating to a “hold” rating in a research report on Sunday, August 16th. Three analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $108.36.

About Revvity

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.