Revvity, Inc. (NYSE:RVTY) Shares Purchased by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Revvity, Inc. (NYSE:RVTY) by 6.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,202 shares of the company’s stock after purchasing an additional 260 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Revvity were worth $469,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Custom Index Systems LLC raised its holdings in Revvity by 15.1% in the 4th quarter. Custom Index Systems LLC now owns 6,522 shares of the company’s stock valued at $728,000 after acquiring an additional 855 shares during the last quarter. Caprock Group LLC acquired a new position in Revvity in the 4th quarter valued at $229,000. Forsta AP Fonden raised its holdings in Revvity by 1.1% in the 4th quarter. Forsta AP Fonden now owns 27,300 shares of the company’s stock valued at $3,047,000 after acquiring an additional 300 shares during the last quarter. KBC Group NV raised its holdings in Revvity by 2.6% in the 4th quarter. KBC Group NV now owns 34,522 shares of the company’s stock valued at $3,853,000 after acquiring an additional 879 shares during the last quarter. Finally, Tributary Capital Management LLC raised its holdings in Revvity by 45.5% in the 4th quarter. Tributary Capital Management LLC now owns 12,173 shares of the company’s stock valued at $1,359,000 after acquiring an additional 3,808 shares during the last quarter. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on RVTY. Sanford C. Bernstein downgraded Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price target for the company. in a report on Friday, January 10th. Bank of America upgraded Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price target for the company in a report on Friday, December 13th. Raymond James reissued an “outperform” rating and set a $145.00 price objective (up from $140.00) on shares of Revvity in a research note on Monday. Leerink Partners boosted their price objective on shares of Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, KeyCorp boosted their price objective on shares of Revvity from $132.00 to $145.00 and gave the company an “overweight” rating in a research note on Monday. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $136.25.

Revvity Stock Down 0.4 %

Shares of Revvity stock opened at $123.16 on Wednesday. The company has a fifty day moving average price of $117.06 and a 200 day moving average price of $118.90. The company has a current ratio of 3.60, a quick ratio of 3.03 and a debt-to-equity ratio of 0.41. Revvity, Inc. has a twelve month low of $97.32 and a twelve month high of $129.50. The stock has a market cap of $14.99 billion, a price-to-earnings ratio of 55.73, a price-to-earnings-growth ratio of 4.17 and a beta of 1.03.

Revvity (NYSE:RVTY) last announced its quarterly earnings results on Friday, January 31st. The company reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.05. Revvity had a net margin of 9.81% and a return on equity of 7.68%. During the same quarter in the previous year, the business posted $1.25 earnings per share. Equities research analysts forecast that Revvity, Inc. will post 4.97 earnings per share for the current fiscal year.

Revvity Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 18th will be given a $0.07 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.23%. Revvity’s payout ratio is currently 12.67%.

Revvity announced that its Board of Directors has initiated a share repurchase plan on Monday, November 4th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 6.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Revvity

In other news, insider Tajinder S. Vohra sold 5,492 shares of the company’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total value of $641,520.52. Following the sale, the insider now owns 19,652 shares in the company, valued at approximately $2,295,550.12. This represents a 21.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Joel S. Goldberg sold 15,170 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $126.73, for a total transaction of $1,922,494.10. Following the completion of the sale, the insider now owns 33,400 shares in the company, valued at approximately $4,232,782. This trade represents a 31.23 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by corporate insiders.

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.