Revvity Inc. $RVTY Stock Bought by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group increased its Revvity stake by 35.4% in the third quarter, adding 17,629 shares to bring its holdings to 67,485 shares, worth about $10.3 million.
• Revvity reported quarterly EPS of $1.38, beating estimates of $1.30, while revenue of $728.9 million topped forecasts and rose 4.3% year over year.
• Analysts’ overall rating was Hold, with a consensus price target of $133.86; company insiders sold 9,045 shares worth approximately $1.28 million over the prior 90 days.

Sumitomo Mitsui Trust Group Inc. increased its holdings in Revvity Inc. (NYSE:RVTY - Free Report) by 35.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 67,485 shares of the company's stock after buying an additional 17,629 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.06% of Revvity worth $10,318,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of RVTY. Ascentis Independent Advisors acquired a new stake in shares of Revvity during the 1st quarter worth approximately $29,000. Pillar Financial Advisors LLC acquired a new position in Revvity during the 3rd quarter valued at about $29,000. Global Retirement Partners LLC bought a new position in shares of Revvity in the second quarter valued at approximately $51,000. Summit Securities Group LLC raised its holdings in Revvity by 294.6% during the first quarter. Summit Securities Group LLC now owns 663 shares of the company's stock worth $58,000 after purchasing an additional 495 shares in the last quarter. Finally, Root Financial Partners LLC acquired a new stake in Revvity in the third quarter worth approximately $64,000. Institutional investors own 86.65% of the company's stock.

Insider Transactions at Revvity

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

Revvity Stock Performance

Shares of Revvity stock traded up $4.49 during midday trading on Friday, hitting $155.32. The company had a trading volume of 1,683,252 shares, 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 business's 50 day simple moving average is $147.60 and its two-hundred day simple moving average is $113.25. The stock has a market cap of $17.33 billion, a PE ratio of 68.73, a P/E/G ratio of 2.76 and a beta of 1.08. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.80 and a quick ratio of 1.50.

Revvity (NYSE:RVTY - Get Free Report) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported $1.38 earnings per share for the quarter, beating analysts' consensus estimates of $1.30 by $0.08. Revvity had a net margin of 8.16% and a return on equity of 8.34%. The firm had revenue of $728.90 million during the quarter, compared to the consensus estimate of $694.73 million. During the same period in the prior year, the firm earned $1.18 EPS. The business's revenue was up 4.3% on a year-over-year basis. As a group, equities analysts predict that Revvity Inc. will post 5.42 EPS for the current fiscal year.

Revvity Announces Dividend

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

Analyst Ratings Changes

A number of analysts have recently commented on the company. Barclays boosted their price objective on Revvity from $160.00 to $175.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Weiss Ratings upgraded shares of Revvity from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, October 8th. Evercore reaffirmed an "outperform" rating on shares of Revvity in a report on Wednesday, August 5th. Zacks Research raised Revvity from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 4th. Finally, JPMorgan Chase & Co. raised their price target on Revvity from $155.00 to $160.00 and gave the stock a "neutral" rating in a research note on Wednesday. Six analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat, Revvity has an average rating of "Hold" and a consensus price target of $133.86.

About Revvity

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.

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