Sumitomo Mitsui DS Asset Management Company Ltd Grows Stock Position in Revvity, Inc. (NYSE:RVTY)

Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Revvity, Inc. (NYSE:RVTY) by 2.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 large investors also recently bought and sold shares of the stock. Gladius Capital Management LP purchased a new position in shares of Revvity in the 3rd quarter valued at about $32,000. Continuum Advisory LLC boosted its holdings in Revvity by 2,972.7% in the third quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock valued at $43,000 after purchasing an additional 327 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in Revvity by 55.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock valued at $43,000 after purchasing an additional 138 shares during the last quarter. Avior Wealth Management LLC increased its stake in Revvity by 7,980.0% in the third quarter. Avior Wealth Management LLC now owns 404 shares of the company’s stock valued at $52,000 after purchasing an additional 399 shares during the last quarter. Finally, Eastern Bank acquired a new stake in Revvity during the third quarter worth approximately $80,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Insider Buying and Selling at Revvity

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Raymond James reissued an “outperform” rating and issued a $145.00 price target (up from $140.00) on shares of Revvity in a research report on Monday, February 3rd. Robert W. Baird upped their target price on Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Leerink Partners lifted their price target on Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. KeyCorp increased their price objective on Revvity from $132.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, TD Cowen lifted their target price on shares of Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $136.25.

Revvity Stock Performance

NYSE:RVTY opened at $112.48 on Wednesday. The firm’s fifty day simple moving average is $117.43 and its 200-day simple moving average is $119.22. The company has a quick ratio of 3.03, a current ratio of 3.60 and a debt-to-equity ratio of 0.41. The stock has a market cap of $13.69 billion, a PE ratio of 50.90, a price-to-earnings-growth ratio of 3.97 and a beta of 1.03. Revvity, Inc. has a fifty-two week low of $97.32 and a fifty-two week high of $129.50.

Revvity (NYSE:RVTY) last issued its earnings results on Friday, January 31st. The company reported $1.42 earnings per share (EPS) 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 firm earned $1.25 earnings per share. Analysts expect that Revvity, Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity declared that its board has initiated a share buyback plan on Monday, November 4th that permits the company to repurchase $1.00 billion in outstanding 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 an indication that the company’s management believes its shares are undervalued.

Revvity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 18th will be given a dividend of $0.07 per share. The ex-dividend date is Thursday, April 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.25%. Revvity’s payout ratio is 12.67%.

Revvity Company Profile

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.