Sumitomo Mitsui Trust Group Inc. Buys 17,629 Shares of Revvity Inc. $RVTY

Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Revvity Inc. (NYSE:RVTY) by 35.4% in the third quarter, Holdings Channel reports. The fund owned 67,485 shares of the company’s stock after acquiring an additional 17,629 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Revvity were worth $10,318,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Apollon Wealth Management LLC grew its holdings in shares of Revvity by 2.7% in the 3rd quarter. Apollon Wealth Management LLC now owns 2,778 shares of the company’s stock worth $425,000 after purchasing an additional 73 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Revvity by 5.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,074 shares of the company’s stock valued at $231,000 after purchasing an additional 106 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Revvity by 17.0% in the first quarter. EverSource Wealth Advisors LLC now owns 749 shares of the company’s stock valued at $66,000 after buying an additional 109 shares in the last quarter. Angeles Wealth Management LLC boosted its position in Revvity by 2.0% in the second quarter. Angeles Wealth Management LLC now owns 5,804 shares of the company’s stock valued at $646,000 after buying an additional 112 shares in the last quarter. Finally, Tema ETFs LLC boosted its position in Revvity by 8.1% in the second quarter. Tema ETFs LLC now owns 1,946 shares of the company’s stock valued at $217,000 after buying an additional 145 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

Revvity Price Performance

NYSE RVTY traded up $4.49 on Friday, hitting $155.32. 1,683,252 shares of the company were exchanged, compared to its average volume of 1,785,214. Revvity Inc. has a 1-year low of $81.22 and a 1-year high of $171.74. The firm has a 50 day moving average of $147.60 and a two-hundred day moving average of $113.25. The company has a current ratio of 1.80, a quick ratio of 1.50 and a debt-to-equity ratio of 0.36. The company has a market cap of $17.33 billion, a P/E ratio of 68.73, a P/E/G ratio of 2.76 and a beta of 1.08.

Revvity (NYSE:RVTY) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.08. The firm had revenue of $728.90 million during the quarter, compared to analysts’ expectations of $694.73 million. Revvity had a net margin of 8.16% and a return on equity of 8.34%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.18 EPS. On average, equities analysts predict that Revvity Inc. will post 5.42 EPS for the current year.

Revvity Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 12th. Investors of record on Friday, January 22nd will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.2%. The ex-dividend date is Friday, January 22nd. Revvity’s payout ratio is 12.39%.

Wall Street Analyst Weigh In

RVTY has been the subject of several recent analyst reports. Bank of America reaffirmed a “neutral” rating on shares of Revvity in a report on Wednesday. Barclays boosted their target price on Revvity from $160.00 to $175.00 and gave the stock an “equal weight” rating in a report on Wednesday. UBS Group assumed coverage on Revvity in a research report on Wednesday, September 9th. They set a “neutral” rating and a $140.00 price target on the stock. Wall Street Zen cut Revvity from a “buy” rating to a “hold” rating in a report on Sunday, August 16th. Finally, Zacks Research raised Revvity from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Six investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $133.86.

Insider Buying and Selling at Revvity

In other news, insider Maxwell Krakowiak sold 1,631 shares of Revvity stock in a transaction on Monday, September 21st. The stock was sold at an average price of $144.53, for a total value of $235,728.43. Following the completion of the sale, the insider directly owned 14,781 shares of the company’s stock, valued at approximately $2,136,297.93. This trade represents a 9.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tajinder S. Vohra sold 7,330 shares of the business’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $140.88, for a total value of $1,032,650.40. Following the sale, the insider owned 6,635 shares of the company’s stock, valued at approximately $934,738.80. The trade was a 52.49% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 9,045 shares of company stock worth $1,281,439. Company insiders own 0.85% of the company’s stock.

Revvity Profile

Revvity, Inc provides technology, products and services for the life sciences and diagnostics markets. The company supports pharmaceutical and biotechnology research, clinical laboratories and other healthcare organizations with tools used in drug discovery, biological research, disease detection and laboratory testing.

Its offerings include laboratory instruments, reagents, consumables, software and workflow solutions. Key areas include genomics, proteomics, cellular analysis, imaging, screening, automation and reproductive health, as well as newborn screening and other diagnostic applications.