Public Employees Retirement System of Ohio Makes New Investment in Revvity Inc. $RVTY

Public Employees Retirement System of Ohio acquired a new stake in shares of Revvity Inc. (NYSE:RVTY) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 34,562 shares of the company’s stock, valued at approximately $3,845,000.

A number of other hedge funds also recently made changes to their positions in the stock. Bank of New York Mellon Corp purchased a new stake in Revvity in the 2nd quarter worth $78,766,000. California State Teachers Retirement System grew its holdings in shares of Revvity by 19.8% in the first quarter. California State Teachers Retirement System now owns 133,809 shares of the company’s stock worth $11,723,000 after purchasing an additional 22,075 shares during the last quarter. Corient Private Wealth LLC grew its holdings in Revvity by 985.0% during the 4th quarter. Corient Private Wealth LLC now owns 126,568 shares of the company’s stock worth $12,245,000 after acquiring an additional 114,903 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its stake in shares of Revvity by 6.3% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 426,899 shares of the company’s stock worth $41,302,000 after purchasing an additional 25,233 shares during the last quarter. Finally, Tocqueville Asset Management L.P. acquired a new position in shares of Revvity during the second quarter valued at about $4,791,000. 86.65% of the stock is currently owned by institutional investors.

Revvity Stock Performance

NYSE RVTY opened at $130.77 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.50 and a current ratio of 1.80. The stock’s fifty day moving average is $116.07 and its two-hundred day moving average is $102.05. The firm has a market capitalization of $14.59 billion, a P/E ratio of 62.27, a price-to-earnings-growth ratio of 2.38 and a beta of 1.09. Revvity Inc. has a fifty-two week low of $81.22 and a fifty-two week high of $133.00.

Revvity (NYSE:RVTY) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.20. Revvity had a net margin of 8.16% and a return on equity of 8.34%. The firm had revenue of $729.69 million for the quarter, compared to analysts’ expectations of $702.96 million. During the same quarter in the previous year, the company posted $1.18 EPS. The company’s revenue was down 1.3% compared to the same quarter last year. Revvity has set its FY 2026 guidance at 5.300-5.400 EPS. On average, research analysts anticipate that Revvity Inc. will post 5.36 earnings per share for the current year.

Revvity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, October 23rd will be issued a dividend of $0.07 per share. The ex-dividend date is Friday, October 23rd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.2%. Revvity’s dividend payout ratio (DPR) is currently 13.33%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Royal Bank Of Canada assumed coverage on Revvity in a research report on Tuesday. They set a “sector perform” rating and a $135.00 price target on the stock. Zacks Research raised shares of Revvity from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Sanford C. Bernstein initiated coverage on Revvity in a research note on Friday, June 26th. They set a “market perform” rating and a $115.00 price objective for the company. Barclays lifted their price target on Revvity from $95.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Finally, Evercore reiterated an “outperform” rating on shares of Revvity in a research report on Wednesday, August 5th. Three research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $110.58.

Revvity Company 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.