Resona Asset Management Co. Ltd. Invests $3.91 Million in Revvity, Inc. (NYSE:RVTY)

Resona Asset Management Co. Ltd. purchased a new position in Revvity, Inc. (NYSE:RVTY) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 35,053 shares of the company’s stock, valued at approximately $3,914,000.

Several other institutional investors have also bought and sold shares of RVTY. Vanguard Group Inc. raised its stake in shares of Revvity by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 14,290,211 shares of the company’s stock valued at $1,594,930,000 after buying an additional 156,679 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Revvity by 2.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,382,338 shares of the company’s stock worth $384,234,000 after acquiring an additional 69,034 shares during the last quarter. Geode Capital Management LLC raised its stake in Revvity by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 2,901,459 shares of the company’s stock valued at $322,958,000 after acquiring an additional 37,666 shares during the period. Norges Bank purchased a new stake in Revvity during the fourth quarter valued at about $127,801,000. Finally, Primecap Management Co. CA boosted its position in Revvity by 2.0% during the fourth quarter. Primecap Management Co. CA now owns 951,885 shares of the company’s stock worth $106,240,000 after purchasing an additional 18,580 shares during the period. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Revvity Trading Down 4.8 %

Shares of RVTY opened at $91.58 on Wednesday. Revvity, Inc. has a 1-year low of $90.26 and a 1-year high of $129.50. The company has a market capitalization of $11.00 billion, a P/E ratio of 41.44, a P/E/G ratio of 3.82 and a beta of 1.07. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.60 and a quick ratio of 3.03. The firm’s 50 day simple moving average is $111.30 and its 200 day simple moving average is $115.83.

Revvity (NYSE:RVTY) last posted its quarterly earnings data on Friday, January 31st. The company reported $1.42 earnings per share for the quarter, beating the consensus estimate 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 quarter in the previous year, the company posted $1.25 EPS. Sell-side analysts forecast that Revvity, Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 18th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.31%. Revvity’s dividend payout ratio (DPR) is presently 12.67%.

Insider Activity at Revvity

In related news, insider Joel S. Goldberg sold 15,170 shares of the 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 transaction, the insider now owns 33,400 shares of the company’s stock, valued at approximately $4,232,782. This trade represents a 31.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.68% of the stock is currently owned by insiders.

Analyst Ratings Changes

RVTY has been the topic of several research reports. Barclays boosted their price target on shares of Revvity from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Sanford C. Bernstein lowered Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price target for the company. in a report on Friday, January 10th. KeyCorp lifted their price target on Revvity from $132.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Raymond James reissued an “outperform” rating and set a $145.00 price objective (up previously from $140.00) on shares of Revvity in a report on Monday, February 3rd. Finally, 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 report on Friday, December 13th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Revvity currently has a consensus rating of “Moderate Buy” and an average target price of $136.25.

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.