Revvity, Inc. (NYSE:RVTY) Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Revvity, Inc. (NYSE:RVTY) by 2.4% during the fourth quarter, HoldingsChannel reports. The firm owned 13,148 shares of the company’s stock after purchasing an additional 305 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Revvity were worth $1,467,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in RVTY. Gladius Capital Management LP acquired a new position in Revvity during the third quarter worth approximately $32,000. Continuum Advisory LLC grew its stake in shares of Revvity by 2,972.7% during the 3rd quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock valued at $43,000 after buying an additional 327 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Revvity by 55.9% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock worth $43,000 after buying an additional 138 shares during the last quarter. Avior Wealth Management LLC raised its position in shares of Revvity by 7,980.0% in the 3rd quarter. Avior Wealth Management LLC now owns 404 shares of the company’s stock worth $52,000 after buying an additional 399 shares during the period. Finally, Eastern Bank acquired a new position in Revvity in the third quarter valued at $80,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

Revvity Stock Performance

NYSE:RVTY opened at $112.48 on Wednesday. The firm has a 50-day moving average of $117.43 and a two-hundred day moving average of $119.22. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.60 and a quick ratio of 3.03. The stock has a market cap of $13.69 billion, a P/E ratio of 50.90, a PEG ratio of 3.97 and a beta of 1.03. Revvity, Inc. has a 1-year low of $97.32 and a 1-year high of $129.50.

Revvity (NYSE:RVTY) last issued its quarterly earnings results on Friday, January 31st. The company reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.05. Revvity had a return on equity of 7.68% and a net margin of 9.81%. During the same period in the prior year, the company earned $1.25 earnings per share. On average, research analysts expect that Revvity, Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 18th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.25%. Revvity’s dividend payout ratio (DPR) is presently 12.67%.

Revvity announced that its Board of Directors has authorized a share buyback plan on Monday, November 4th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages have commented on RVTY. Raymond James restated an “outperform” rating and set a $145.00 price target (up from $140.00) on shares of Revvity in a research note on Monday, February 3rd. TD Cowen raised their price target on shares of Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Barclays boosted their price objective on shares of Revvity from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Bank of America raised shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 target price on the stock in a research note on Friday, December 13th. Finally, Leerink Partners upped their price target on shares of Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $136.25.

Insider Activity at Revvity

In other news, insider Tajinder S. Vohra sold 5,492 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total value of $641,520.52. Following the completion of the sale, the insider now owns 19,652 shares of the company’s stock, valued at approximately $2,295,550.12. The trade was a 21.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joel S. Goldberg sold 15,170 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $126.73, for a total transaction of $1,922,494.10. Following the transaction, the insider now directly owns 33,400 shares in the company, valued at $4,232,782. The trade was a 31.23 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by corporate insiders.

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.