Asset Management One Co. Ltd. Decreases Stock Position in Revvity, Inc. (NYSE:RVTY)

Asset Management One Co. Ltd. cut its holdings in Revvity, Inc. (NYSE:RVTY) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 48,595 shares of the company’s stock after selling 661 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Revvity were worth $5,442,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RVTY. Gladius Capital Management LP purchased a new stake in Revvity in the third quarter valued at about $32,000. Continuum Advisory LLC raised its stake in Revvity by 2,972.7% in the third quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock valued at $43,000 after buying an additional 327 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of Revvity by 55.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock worth $43,000 after purchasing an additional 138 shares during the last quarter. Avior Wealth Management LLC raised its stake in shares of Revvity by 7,980.0% in the third quarter. Avior Wealth Management LLC now owns 404 shares of the company’s stock worth $52,000 after purchasing an additional 399 shares during the last quarter. Finally, Eastern Bank purchased a new position in shares of Revvity in the third quarter worth about $80,000. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Revvity

In related news, insider Tajinder S. Vohra sold 5,492 shares of Revvity 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 transaction, the insider now owns 19,652 shares in the company, valued at approximately $2,295,550.12. This trade represents a 21.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Joel S. Goldberg sold 15,170 shares of Revvity stock in a transaction that occurred 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 transaction, the insider now owns 33,400 shares in the company, valued at approximately $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.

Analysts Set New Price Targets

RVTY has been the subject of several research analyst reports. Barclays raised their price objective on Revvity from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. KeyCorp raised their price objective on Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. 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 note on Friday, January 10th. Bank of America upgraded Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price objective for the company in a research note on Friday, December 13th. Finally, Robert W. Baird raised their target price on Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $136.25.

Revvity Stock Down 0.6 %

Shares of RVTY opened at $111.57 on Wednesday. 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 12 month low of $97.32 and a 12 month high of $129.50. The stock’s 50 day moving average is $116.99 and its two-hundred day moving average is $118.81. The firm has a market cap of $13.58 billion, a P/E ratio of 50.48, a PEG ratio of 3.97 and a beta of 1.03.

Revvity (NYSE:RVTY) last issued its quarterly earnings data on Friday, January 31st. The company reported $1.42 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 last year, the company earned $1.25 EPS. Analysts predict that Revvity, Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity declared that its Board of Directors has approved a share buyback program on Monday, November 4th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Revvity Announces Dividend

The company also recently declared 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. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date of this dividend is Thursday, April 17th. Revvity’s dividend payout ratio is presently 12.67%.

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.