Mitsubishi UFJ Asset Management Co. Ltd. Sells 3,220,907 Shares of Revvity Inc. $RVTY

Mitsubishi UFJ Asset Management Co. Ltd. cut its position in shares of Revvity Inc. (NYSE:RVTY) by 93.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 223,738 shares of the company’s stock after selling 3,220,907 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.19% of Revvity worth $21,640,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in RVTY. UMB Bank n.a. raised its holdings in shares of Revvity by 138.8% in the second quarter. UMB Bank n.a. now owns 406 shares of the company’s stock valued at $39,000 after acquiring an additional 236 shares in the last quarter. CVA Family Office LLC raised its position in shares of Revvity by 79.0% in the 2nd quarter. CVA Family Office LLC now owns 410 shares of the company’s stock worth $40,000 after acquiring an additional 181 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Revvity during the 1st quarter worth $44,000. Caitong International Asset Management Co. Ltd boosted its position in Revvity by 25.3% during the first quarter. Caitong International Asset Management Co. Ltd now owns 694 shares of the company’s stock valued at $73,000 after purchasing an additional 140 shares in the last quarter. Finally, Cary Street Partners Investment Advisory LLC purchased a new position in Revvity in the first quarter valued at about $75,000. Institutional investors own 86.65% of the company’s stock.

Revvity Trading Up 2.3%

NYSE RVTY opened at $94.39 on Wednesday. Revvity Inc. has a 12-month low of $81.36 and a 12-month high of $128.29. The company has a fifty day simple moving average of $90.02 and a two-hundred day simple moving average of $92.26. The company has a current ratio of 1.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.36. The stock has a market cap of $10.70 billion, a P/E ratio of 47.43, a P/E/G ratio of 3.15 and a beta of 1.01.

Revvity (NYSE:RVTY) last issued its quarterly earnings results on Monday, October 27th. The company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. The company had revenue of $698.95 million during the quarter, compared to analysts’ expectations of $699.75 million. Revvity had a return on equity of 7.52% and a net margin of 8.44%.The firm’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.28 EPS. Revvity has set its FY 2025 guidance at 4.900-5.000 EPS. On average, analysts forecast that Revvity Inc. will post 4.94 earnings per share for the current year.

Revvity announced that its Board of Directors has approved a stock repurchase plan on Monday, October 27th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase up to 8.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Revvity Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 6th. Investors of record on Friday, January 16th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.3%. The ex-dividend date is Friday, January 16th. Revvity’s dividend payout ratio is 14.07%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Robert W. Baird increased their price target on shares of Revvity from $122.00 to $123.00 and gave the company an “outperform” rating in a research report on Tuesday, October 28th. Barclays increased their target price on shares of Revvity from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Raymond James Financial reaffirmed an “outperform” rating and issued a $115.00 price target (down from $120.00) on shares of Revvity in a report on Tuesday, July 29th. Bank of America decreased their price objective on Revvity from $110.00 to $99.00 and set a “buy” rating for the company in a report on Monday, September 22nd. Finally, Evercore ISI reissued an “outperform” rating and issued a $108.00 price objective on shares of Revvity in a research report on Monday, October 27th. Eight investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $114.75.

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.