Sumitomo Mitsui Trust Group Inc. Decreases Stock Position in Revvity Inc. (NYSE:RVTY)

Sumitomo Mitsui Trust Group Inc. decreased its holdings in shares of Revvity Inc. (NYSE:RVTY) by 1.2% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 302,938 shares of the company’s stock after selling 3,599 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Revvity were worth $32,051,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. T. Rowe Price Investment Management Inc. boosted its stake in Revvity by 16.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 20,761,308 shares of the company’s stock worth $2,317,170,000 after purchasing an additional 2,969,326 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Revvity by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 14,290,211 shares of the company’s stock worth $1,594,930,000 after buying an additional 156,679 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Revvity by 17.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,631,597 shares of the company’s stock valued at $851,764,000 after buying an additional 1,151,821 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Revvity by 0.4% in the 4th quarter. Janus Henderson Group PLC now owns 6,358,952 shares of the company’s stock valued at $709,725,000 after acquiring an additional 23,650 shares during the period. Finally, EdgePoint Investment Group Inc. raised its stake in Revvity by 51.1% in the 4th quarter. EdgePoint Investment Group Inc. now owns 4,058,231 shares of the company’s stock worth $452,939,000 after acquiring an additional 1,372,456 shares during the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Wells Fargo & Company dropped their price target on Revvity from $130.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 17th. Raymond James Financial reiterated an “outperform” rating and issued a $120.00 target price (down previously from $145.00) on shares of Revvity in a research report on Tuesday, April 29th. Robert W. Baird reduced their price target on shares of Revvity from $127.00 to $125.00 and set an “outperform” rating for the company in a research report on Tuesday, April 29th. Bank of America decreased their price objective on shares of Revvity from $116.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, June 26th. Finally, The Goldman Sachs Group reduced their target price on shares of Revvity from $140.00 to $125.00 and set a “buy” rating for the company in a report on Tuesday, April 29th. Four research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Revvity presently has a consensus rating of “Moderate Buy” and an average price target of $123.64.

Revvity Trading Up 1.9%

RVTY stock opened at $100.90 on Thursday. Revvity Inc. has a 52-week low of $87.70 and a 52-week high of $129.50. The company has a quick ratio of 2.99, a current ratio of 3.58 and a debt-to-equity ratio of 0.41. The firm has a market cap of $11.89 billion, a P/E ratio of 42.94, a PEG ratio of 2.50 and a beta of 0.98. The company’s 50-day simple moving average is $93.78 and its 200-day simple moving average is $105.09.

Revvity (NYSE:RVTY) last issued its quarterly earnings results on Monday, April 28th. The company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.05. Revvity had a return on equity of 7.73% and a net margin of 10.35%. The company had revenue of $664.76 million for the quarter, compared to the consensus estimate of $662.30 million. During the same quarter in the prior year, the business posted $0.98 earnings per share. Revvity’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, equities analysts forecast that Revvity Inc. will post 4.94 EPS for the current fiscal year.

Revvity Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Friday, July 18th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $0.28 dividend on an annualized basis and a yield of 0.28%. Revvity’s dividend payout ratio is currently 11.91%.

Revvity 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.