Mitsubishi UFJ Asset Management Co. Ltd. Raises Stock Position in Revvity Inc. (NYSE:RVTY)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Revvity Inc. by 1.8%, holding approximately 3.44 million shares valued at $364.44 million.
• Analysts have revised their price targets for Revvity, with Goldman Sachs lowering its target from $140 to $125, while several others have also adjusted their targets, indicating a consensus rating of "Moderate Buy".
• Revvity announced a quarterly dividend of $0.07 per share, expected to be paid on November 7th, representing an annual yield of 0.3%.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Revvity Inc. (NYSE:RVTY - Free Report) by 1.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,444,645 shares of the company's stock after buying an additional 62,307 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 2.92% of Revvity worth $364,443,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in RVTY. O Shaughnessy Asset Management LLC grew its stake in Revvity by 19.0% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 5,892 shares of the company's stock worth $658,000 after purchasing an additional 939 shares during the period. Wellington Management Group LLP grew its holdings in shares of Revvity by 13.2% in the fourth quarter. Wellington Management Group LLP now owns 6,655 shares of the company's stock worth $743,000 after acquiring an additional 776 shares during the period. Resona Asset Management Co. Ltd. purchased a new position in shares of Revvity in the fourth quarter valued at about $3,914,000. Russell Investments Group Ltd. raised its position in Revvity by 11.2% during the fourth quarter. Russell Investments Group Ltd. now owns 46,387 shares of the company's stock valued at $5,172,000 after purchasing an additional 4,661 shares during the period. Finally, Federated Hermes Inc. grew its stake in Revvity by 13.7% in the fourth quarter. Federated Hermes Inc. now owns 229,524 shares of the company's stock worth $25,617,000 after purchasing an additional 27,684 shares in the last quarter. Institutional investors own 86.65% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Wall Street Zen downgraded shares of Revvity from a "buy" rating to a "hold" rating in a research note on Sunday, August 3rd. Stifel Nicolaus decreased their price target on Revvity from $120.00 to $110.00 and set a "hold" rating for the company in a research note on Tuesday, July 29th. JPMorgan Chase & Co. reduced their price target on shares of Revvity from $120.00 to $100.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. UBS Group upgraded shares of Revvity from a "neutral" rating to a "buy" rating and lowered their target price for the company from $145.00 to $115.00 in a research note on Thursday, May 1st. Finally, Robert W. Baird reduced their price objective on shares of Revvity from $127.00 to $125.00 and set an "outperform" rating for the company in a report on Tuesday, April 29th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $120.07.

Revvity Stock Down 0.7%

Shares of NYSE RVTY traded down $0.57 during midday trading on Monday, reaching $86.27. 280,980 shares of the company's stock were exchanged, compared to its average volume of 1,177,886. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.75 and a current ratio of 3.33. The stock has a market capitalization of $10.01 billion, a PE ratio of 36.50, a price-to-earnings-growth ratio of 2.33 and a beta of 0.91. Revvity Inc. has a 52-week low of $85.12 and a 52-week high of $129.50. The business's fifty day moving average price is $95.13 and its two-hundred day moving average price is $101.10.

Revvity (NYSE:RVTY - Get Free Report) last released its earnings results on Monday, July 28th. The company reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.04. The business had revenue of $720.28 million during the quarter, compared to analysts' expectations of $711.26 million. Revvity had a net margin of 10.19% and a return on equity of 7.66%. The firm's revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the company earned $1.22 earnings per share. Analysts forecast that Revvity Inc. will post 4.94 EPS for the current year.

Revvity Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, October 17th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, October 17th. Revvity's dividend payout ratio (DPR) is presently 11.86%.

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.