Revvity, Inc. (NYSE:RVTY) Shares Bought by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. raised its position in Revvity, Inc. (NYSE:RVTY) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 306,537 shares of the company’s stock after acquiring an additional 6,814 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Revvity were worth $34,213,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Empirical Finance LLC raised its holdings in shares of Revvity by 2.0% in the third quarter. Empirical Finance LLC now owns 4,237 shares of the company’s stock worth $541,000 after buying an additional 85 shares during the last quarter. CX Institutional raised its holdings in shares of Revvity by 1.1% in the third quarter. CX Institutional now owns 7,984 shares of the company’s stock worth $1,020,000 after buying an additional 86 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Revvity by 2.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,214 shares of the company’s stock worth $470,000 after buying an additional 100 shares during the last quarter. HB Wealth Management LLC raised its holdings in shares of Revvity by 4.6% in the fourth quarter. HB Wealth Management LLC now owns 2,380 shares of the company’s stock worth $266,000 after buying an additional 104 shares during the last quarter. Finally, Westside Investment Management Inc. raised its holdings in shares of Revvity by 0.8% in the fourth quarter. Westside Investment Management Inc. now owns 14,363 shares of the company’s stock worth $1,603,000 after buying an additional 108 shares during the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

RVTY has been the subject of a number of research analyst reports. KeyCorp raised their price target on shares of Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. TD Cowen raised their price target on shares of Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Leerink Partners raised their target price on shares of Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Robert W. Baird raised their target price on shares of Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Finally, Bank of America raised shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 target price for the company in a report on Friday, December 13th. Four 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $136.25.

Insider Activity

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

Revvity Stock Down 2.1 %

RVTY opened at $112.48 on Wednesday. Revvity, Inc. has a fifty-two week low of $97.32 and a fifty-two week high of $129.50. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.03 and a current ratio of 3.60. The company has a fifty day moving average of $117.43 and a two-hundred day moving average of $119.22. The stock has a market capitalization of $13.69 billion, a price-to-earnings ratio of 50.90, a PEG ratio of 3.97 and a beta of 1.03.

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

Revvity Announces Dividend

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

Revvity declared that its board has authorized a share repurchase program on Monday, November 4th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 6.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

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.