Mitsubishi UFJ Asset Management Co. Ltd. Has $364.44 Million 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. raised its stake in Revvity Inc. (NYSE:RVTY - Free Report) by 1.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,444,645 shares of the company's stock after acquiring an additional 62,307 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 2.92% of Revvity worth $364,443,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. O Shaughnessy Asset Management LLC grew its stake in shares of Revvity by 19.0% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 5,892 shares of the company's stock valued at $658,000 after purchasing an additional 939 shares during the last quarter. Wellington Management Group LLP boosted its position in Revvity by 13.2% in the 4th quarter. Wellington Management Group LLP now owns 6,655 shares of the company's stock valued at $743,000 after buying an additional 776 shares during the last quarter. Resona Asset Management Co. Ltd. bought a new position in Revvity in the 4th quarter valued at $3,914,000. Russell Investments Group Ltd. increased its stake in shares of Revvity by 11.2% in the 4th quarter. Russell Investments Group Ltd. now owns 46,387 shares of the company's stock valued at $5,172,000 after buying an additional 4,661 shares during the period. Finally, Federated Hermes Inc. raised its position in shares of Revvity by 13.7% during the fourth quarter. Federated Hermes Inc. now owns 229,524 shares of the company's stock worth $25,617,000 after acquiring an additional 27,684 shares during the last quarter. 86.65% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on RVTY shares. The Goldman Sachs Group decreased their price target on Revvity from $140.00 to $125.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Raymond James Financial reissued an "outperform" rating and set a $115.00 price target (down from $120.00) on shares of Revvity in a research note on Tuesday, July 29th. Evercore ISI cut their price objective on shares of Revvity from $116.00 to $115.00 and set an "outperform" rating on the stock in a report on Tuesday, July 8th. Barclays dropped their target price on shares of Revvity from $140.00 to $110.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Finally, Stifel Nicolaus reduced their price target on Revvity from $120.00 to $110.00 and set a "hold" rating on the stock in a research report on Tuesday, July 29th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $120.07.

Revvity Stock Performance

RVTY stock opened at $85.92 on Thursday. Revvity Inc. has a 1-year low of $85.12 and a 1-year high of $129.50. The business's 50-day moving average price is $95.42 and its two-hundred day moving average price is $101.99. The firm has a market cap of $10.13 billion, a PE ratio of 36.41, a P/E/G ratio of 2.38 and a beta of 0.91. The company has a current ratio of 3.33, a quick ratio of 2.75 and a debt-to-equity ratio of 0.43.

Revvity (NYSE:RVTY - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The company reported $1.18 earnings per share (EPS) 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 analyst estimates of $711.26 million. Revvity had a return on equity of 7.66% and a net margin of 10.19%. Revvity's quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.22 EPS. As a group, research analysts forecast that Revvity Inc. will post 4.94 earnings per share for the current year.

Revvity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, October 17th will be issued a dividend of $0.07 per share. 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 is 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.

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