Resona Asset Management Co. Ltd. Makes New Investment in Revvity, Inc. (NYSE:RVTY)

Resona Asset Management Co. Ltd. acquired a new stake in shares of Revvity, Inc. (NYSE:RVTY - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 35,053 shares of the company's stock, valued at approximately $3,914,000.

Other hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its position in 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 lifted its holdings in shares of Revvity by 4.6% during the fourth quarter. HB Wealth Management LLC now owns 2,380 shares of the company's stock valued at $266,000 after purchasing an additional 104 shares during the last quarter. Signaturefd LLC increased its stake in Revvity by 6.8% in the 4th quarter. Signaturefd LLC now owns 1,668 shares of the company's stock worth $186,000 after purchasing an additional 106 shares in the last quarter. Westside Investment Management Inc. raised its holdings in Revvity by 0.8% during the 4th 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 period. Finally, Coldstream Capital Management Inc. boosted its holdings in shares of Revvity by 5.1% in the third quarter. Coldstream Capital Management Inc. now owns 2,247 shares of the company's stock worth $286,000 after buying an additional 110 shares during the period. Institutional investors and hedge funds own 86.65% of the company's stock.

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Revvity Price Performance

Shares of Revvity stock traded up $1.15 during mid-day trading on Monday, reaching $96.01. 153,534 shares of the stock were exchanged, compared to its average volume of 883,006. The company has a market cap of $11.54 billion, a price-to-earnings ratio of 43.44, a price-to-earnings-growth ratio of 3.82 and a beta of 1.07. The firm has a 50-day simple moving average of $109.12 and a 200 day simple moving average of $115.09. The company has a current ratio of 3.60, a quick ratio of 3.03 and a debt-to-equity ratio of 0.41. Revvity, Inc. has a fifty-two week low of $89.61 and a fifty-two week high of $129.50.

Revvity (NYSE:RVTY - Get Free Report) last issued its quarterly earnings data on Friday, January 31st. The company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business posted $1.25 earnings per share. On average, sell-side analysts predict that Revvity, Inc. will post 4.94 EPS for the current fiscal year.

Revvity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders 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 annualized dividend and a dividend yield of 0.29%. Revvity's dividend payout ratio (DPR) is currently 12.67%.

Insider Transactions at Revvity

In other Revvity news, insider Joel S. Goldberg sold 15,170 shares of Revvity stock in a transaction on 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 owns 33,400 shares of the company's stock, valued at approximately $4,232,782. The trade was a 31.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.68% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on RVTY shares. Raymond James restated an "outperform" rating and set a $145.00 price target (up previously from $140.00) on shares of Revvity in a report on Monday, February 3rd. Barclays lowered their price target on Revvity from $140.00 to $110.00 and set an "overweight" rating on the stock in a report on Thursday. KeyCorp increased their target price on shares of Revvity from $132.00 to $145.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Finally, Sanford C. Bernstein cut Revvity from an "outperform" rating to a "market perform" rating and set a $130.00 price objective for the company. in a research report on Friday, January 10th. 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. Based on data from MarketBeat, Revvity currently has an average rating of "Moderate Buy" and an average target price of $133.75.

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.