Mitsubishi UFJ Trust & Banking Corp Lowers Stock Holdings in Revvity, Inc. (NYSE:RVTY)

Mitsubishi UFJ Trust & Banking Corp cut its position in Revvity, Inc. (NYSE:RVTY - Free Report) by 4.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 56,240 shares of the company's stock after selling 2,603 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp's holdings in Revvity were worth $6,277,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Revvity by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 14,290,211 shares of the company's stock worth $1,594,930,000 after acquiring an additional 156,679 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Revvity by 1.7% in the 3rd quarter. Janus Henderson Group PLC now owns 6,335,302 shares of the company's stock valued at $809,332,000 after purchasing an additional 108,401 shares during the last quarter. State Street Corp boosted its stake in Revvity by 0.3% in the 3rd quarter. State Street Corp now owns 5,180,169 shares of the company's stock worth $661,767,000 after purchasing an additional 17,832 shares in the last quarter. Geode Capital Management LLC grew its position in Revvity by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,863,793 shares of the company's stock worth $364,569,000 after purchasing an additional 25,078 shares during the last quarter. Finally, EdgePoint Investment Group Inc. increased its stake in Revvity by 34.6% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 2,685,775 shares of the company's stock valued at $343,108,000 after purchasing an additional 690,534 shares in the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

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Revvity Price Performance

RVTY stock traded down $5.10 during mid-day trading on Thursday, reaching $101.62. The company's stock had a trading volume of 452,117 shares, compared to its average volume of 874,118. The company has a current ratio of 3.60, a quick ratio of 3.03 and a debt-to-equity ratio of 0.41. The company's 50 day moving average is $114.20 and its two-hundred day moving average is $116.84. Revvity, Inc. has a fifty-two week low of $97.32 and a fifty-two week high of $129.50. The stock has a market cap of $12.21 billion, a PE ratio of 45.98, a P/E/G ratio of 3.82 and a beta of 1.06.

Revvity (NYSE:RVTY - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The company reported $1.42 EPS for the quarter, topping 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 quarter in the prior year, the business earned $1.25 EPS. Equities research analysts expect that Revvity, Inc. will post 4.94 EPS for the current year.

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 issued a $0.07 dividend. The ex-dividend date is Thursday, April 17th. This represents a $0.28 annualized dividend and a yield of 0.28%. Revvity's payout ratio is 12.67%.

Insider Activity

In other Revvity 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 transaction of $1,922,494.10. Following the completion of the sale, the insider now directly 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tajinder S. Vohra sold 5,492 shares of the business's stock in a transaction that occurred on 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 directly owns 19,652 shares in the company, valued at $2,295,550.12. This trade represents a 21.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Sanford C. Bernstein downgraded shares of Revvity from an "outperform" rating to a "market perform" rating and set a $130.00 price objective for the company. in a research note on Friday, January 10th. KeyCorp lifted their price target on Revvity from $132.00 to $145.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Raymond James reissued an "outperform" rating and issued a $145.00 price objective (up from $140.00) on shares of Revvity in a report on Monday, February 3rd. Barclays lifted their target price on Revvity from $135.00 to $140.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Finally, Bank of America upgraded shares of Revvity from a "neutral" rating to a "buy" rating and set a $138.00 price target on the stock in a report on Friday, December 13th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Revvity currently has an average rating of "Moderate Buy" and an average price target of $136.25.

Revvity 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.