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

Sumitomo Mitsui Trust Group Inc. raised its position in Revvity, Inc. (NYSE:RVTY - Free Report) by 2.3% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 306,537 shares of the company's stock after purchasing an additional 6,814 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.25% of Revvity worth $34,213,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RVTY. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Revvity by 686.3% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,604 shares of the company's stock valued at $205,000 after purchasing an additional 1,400 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in shares of Revvity by 2.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 9,088 shares of the company's stock worth $1,161,000 after acquiring an additional 193 shares during the last quarter. CX Institutional increased its stake in shares of Revvity by 1.1% in the 3rd quarter. CX Institutional now owns 7,984 shares of the company's stock worth $1,020,000 after acquiring an additional 86 shares during the last quarter. Creative Planning increased its stake in shares of Revvity by 2.3% in the 3rd quarter. Creative Planning now owns 20,308 shares of the company's stock worth $2,594,000 after acquiring an additional 451 shares during the last quarter. Finally, Vontobel Holding Ltd. acquired a new stake in shares of Revvity in the 3rd quarter worth $277,000. Hedge funds and other institutional investors own 86.65% of the company's stock.

Analysts Set New Price Targets

RVTY has been the subject of a number of recent research reports. Bank of America raised Revvity from a "neutral" rating to a "buy" rating and set a $138.00 target price for the company in a research note on Friday, December 13th. Robert W. Baird raised their target price on Revvity from $136.00 to $138.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 5th. Barclays raised their target price on Revvity from $135.00 to $140.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Sanford C. Bernstein downgraded Revvity from an "outperform" rating to a "market perform" rating and set a $130.00 target price for the company. in a research note on Friday, January 10th. Finally, TD Cowen raised their price objective on Revvity from $141.00 to $144.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. 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. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $136.25.

Revvity Stock Down 0.5 %

Shares of RVTY traded down $0.54 during midday trading on Friday, hitting $112.34. The company had a trading volume of 793,480 shares, compared to its average volume of 913,091. The company's 50-day simple moving average is $117.15 and its 200-day simple moving average is $118.95. 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 firm has a market capitalization of $13.67 billion, a P/E ratio of 50.83, a P/E/G 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 - Get Free Report) last announced 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 previous year, the firm posted $1.25 earnings per share. As a group, sell-side analysts expect that Revvity, Inc. will post 4.94 EPS for the current year.

Revvity Announces Dividend

The company also recently declared 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. This represents a $0.28 annualized dividend and a yield of 0.25%. The ex-dividend date of this dividend is Thursday, April 17th. Revvity's dividend payout ratio (DPR) is 12.67%.

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

Insider Activity

In other 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 transaction of $641,520.52. Following the completion of the sale, the insider now owns 19,652 shares in the company, valued at $2,295,550.12. This represents a 21.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Joel S. Goldberg sold 15,170 shares of the 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 owns 33,400 shares of the company's stock, valued at $4,232,782. The trade was a 31.23 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company's stock.

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.