Sumitomo Mitsui Trust Group Inc. Trims Stake in Revvity Inc. $RVTY

Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of Revvity Inc. (NYSE:RVTY) by 10.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 271,026 shares of the company’s stock after selling 30,009 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of Revvity worth $23,755,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CYBER HORNET ETFs LLC acquired a new position in Revvity in the second quarter valued at about $32,000. MUFG Securities EMEA plc purchased a new stake in shares of Revvity in the 2nd quarter valued at approximately $34,000. UMB Bank n.a. lifted its holdings in shares of Revvity by 138.8% in the 2nd quarter. UMB Bank n.a. now owns 406 shares of the company’s stock worth $39,000 after acquiring an additional 236 shares during the last quarter. CVA Family Office LLC boosted its position in shares of Revvity by 79.0% during the 2nd quarter. CVA Family Office LLC now owns 410 shares of the company’s stock worth $40,000 after purchasing an additional 181 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in Revvity in the 2nd quarter valued at approximately $49,000. 86.65% of the stock is owned by institutional investors and hedge funds.

Revvity Price Performance

RVTY stock opened at $112.54 on Friday. The business’s 50-day moving average is $100.01 and its two-hundred day moving average is $94.55. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.75 and a quick ratio of 1.44. The firm has a market capitalization of $12.76 billion, a P/E ratio of 56.55, a P/E/G ratio of 3.53 and a beta of 1.05. Revvity Inc. has a 1 year low of $81.36 and a 1 year high of $128.29.

Revvity (NYSE:RVTY) last released its earnings results on Monday, October 27th. The company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. The firm had revenue of $698.95 million for the quarter, compared to analyst estimates of $699.75 million. Revvity had a net margin of 8.44% and a return on equity of 7.52%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.28 earnings per share. Revvity has set its FY 2025 guidance at 4.900-5.000 EPS. Analysts anticipate that Revvity Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity declared that its board has approved a stock repurchase plan on Monday, October 27th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 8.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Revvity Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 6th. Stockholders of record on Friday, January 16th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Friday, January 16th. Revvity’s dividend payout ratio (DPR) is presently 14.07%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Weiss Ratings restated a “sell (d)” rating on shares of Revvity in a research note on Monday, December 29th. Wells Fargo & Company boosted their price objective on Revvity from $102.00 to $107.00 and gave the company an “equal weight” rating in a report on Monday, December 15th. Barclays raised their target price on Revvity from $105.00 to $115.00 and gave the company an “overweight” rating in a report on Monday, December 15th. Evercore ISI reiterated an “outperform” rating on shares of Revvity in a research note on Monday, January 5th. Finally, Robert W. Baird raised their price objective on shares of Revvity from $122.00 to $123.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. Six equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $113.91.

Revvity Company Profile

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.