Mitsubishi UFJ Trust & Banking Corp Sells 4,750 Shares of Revvity Inc. $RVTY

Mitsubishi UFJ Trust & Banking Corp decreased its stake in Revvity Inc. (NYSE:RVTY) by 8.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 49,083 shares of the company’s stock after selling 4,750 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Revvity were worth $4,302,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RVTY. CYBER HORNET ETFs LLC acquired a new position in shares of Revvity during the second quarter worth $32,000. MUFG Securities EMEA plc acquired a new position in Revvity in the 2nd quarter worth about $34,000. CVA Family Office LLC boosted its stake in shares of Revvity by 79.0% during the second quarter. CVA Family Office LLC now owns 410 shares of the company’s stock valued at $40,000 after purchasing an additional 181 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of Revvity during the second quarter worth about $49,000. Finally, Quent Capital LLC acquired a new position in shares of Revvity in the third quarter valued at approximately $71,000. Institutional investors own 86.65% of the company’s stock.

Revvity Stock Performance

Shares of RVTY opened at $108.52 on Friday. The company has a current ratio of 1.75, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36. The firm’s fifty day simple moving average is $103.75 and its two-hundred day simple moving average is $95.37. Revvity Inc. has a 12 month low of $81.36 and a 12 month high of $128.29. The stock has a market capitalization of $12.30 billion, a P/E ratio of 54.53, a price-to-earnings-growth ratio of 3.39 and a beta of 1.05.

Revvity (NYSE:RVTY) last announced its quarterly earnings data on Monday, October 27th. The company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. Revvity had a return on equity of 7.52% and a net margin of 8.44%.The company had revenue of $698.95 million for the quarter, compared to the consensus estimate of $699.75 million. During the same period in the previous year, the business earned $1.28 EPS. The firm’s revenue was up 2.2% compared to the same quarter last year. As a group, analysts predict that Revvity Inc. will post 4.94 EPS for the current year.

Revvity announced that its board has authorized a stock repurchase plan on Monday, October 27th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 8.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Revvity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 8th. Shareholders of record on Friday, April 17th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, April 17th. Revvity’s payout ratio is presently 14.07%.

Analysts Set New Price Targets

Several equities research analysts recently commented on RVTY shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Revvity in a research report on Monday, December 29th. Robert W. Baird boosted their price objective on shares of Revvity from $122.00 to $123.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 28th. The Goldman Sachs Group started coverage on Revvity in a research report on Tuesday, December 9th. They set a “neutral” rating and a $105.00 target price for the company. Wells Fargo & Company upped their price target on Revvity from $102.00 to $107.00 and gave the company an “equal weight” rating in a research report on Monday, December 15th. Finally, Guggenheim started coverage on Revvity in a research note on Wednesday, October 15th. They issued a “neutral” rating for the company. Six equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $113.91.

About Revvity

Revvity, Inc is a global provider of technology-enabled solutions for the life sciences, diagnostics and applied markets. The company develops and supplies a range of products and services, including reagents and consumables, laboratory instruments, workflow automation, software analytics and technical support. Its portfolio supports applications in drug discovery, genomics, cell biology research, environmental and food safety testing, industrial quality control and clinical diagnostics.

Tracing its heritage to Perkin-Elmer, founded in 1937, Revvity began trading on the New York Stock Exchange under the ticker symbol RVTY in January 2024 following a corporate rebranding.