Sumitomo Mitsui Trust Holdings Inc. Makes New $33.57 Million Investment in Revvity, Inc. (NYSE:RVTY)

Sumitomo Mitsui Trust Holdings Inc. bought a new stake in Revvity, Inc. (NYSE:RVTYFree Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 307,094 shares of the company’s stock, valued at approximately $33,568,000. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.25% of Revvity at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Mn Services Vermogensbeheer B.V. acquired a new position in shares of Revvity in the 4th quarter valued at $6,340,000. Louisiana State Employees Retirement System acquired a new position in shares of Revvity in the 4th quarter valued at $820,000. MV Capital Management Inc. acquired a new position in shares of Revvity in the 4th quarter valued at $60,000. Simplicity Solutions LLC acquired a new position in shares of Revvity in the 4th quarter valued at $205,000. Finally, Byrne Asset Management LLC acquired a new position in shares of Revvity in the 4th quarter valued at $1,112,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on RVTY shares. Raymond James upped their price target on shares of Revvity from $106.00 to $127.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Stifel Nicolaus upped their price target on shares of Revvity from $95.00 to $110.00 and gave the company a “hold” rating in a research report on Friday, February 2nd. UBS Group downgraded shares of Revvity from a “buy” rating to a “neutral” rating and upped their price target for the company from $105.00 to $125.00 in a research report on Tuesday, January 16th. Evercore ISI upgraded shares of Revvity from an “in-line” rating to an “outperform” rating and upped their price target for the company from $88.00 to $125.00 in a research report on Thursday, January 4th. Finally, KeyCorp upped their price target on shares of Revvity from $110.00 to $126.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $118.91.

Check Out Our Latest Analysis on RVTY

Insider Activity

In other news, insider Prahlad R. Singh sold 21,217 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $104.28, for a total value of $2,212,508.76. Following the completion of the transaction, the insider now owns 92,801 shares in the company, valued at approximately $9,677,288.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.60% of the company’s stock.

Revvity Stock Performance

Shares of RVTY opened at $100.86 on Friday. The company has a 50-day simple moving average of $104.78 and a 200-day simple moving average of $101.60. The company has a quick ratio of 1.77, a current ratio of 2.07 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $12.46 billion, a PE ratio of 18.34, a P/E/G ratio of 2.59 and a beta of 1.09. Revvity, Inc. has a 52-week low of $79.50 and a 52-week high of $135.67.

Revvity (NYSE:RVTYGet Free Report) last announced its quarterly earnings results on Thursday, February 1st. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.10. The business had revenue of $695.90 million during the quarter. Revvity had a net margin of 25.20% and a return on equity of 7.41%. Equities research analysts predict that Revvity, Inc. will post 4.65 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 19th will be issued a $0.07 dividend. The ex-dividend date is Thursday, April 18th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.28%. Revvity’s dividend payout ratio is presently 5.09%.

About Revvity

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Revvity (NYSE:RVTY)

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