Tokio Marine Asset Management Co. Ltd. Boosts Stock Position in Revvity, Inc. (NYSE:RVTY)

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

Several other large investors have also recently bought and sold shares of RVTY. Gladius Capital Management LP acquired a new position in Revvity in the third quarter valued at $32,000. Continuum Advisory LLC boosted its stake in Revvity by 2,972.7% in the third quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock valued at $43,000 after acquiring an additional 327 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in Revvity by 55.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock valued at $43,000 after acquiring an additional 138 shares in the last quarter. Avior Wealth Management LLC boosted its stake in Revvity by 7,980.0% in the third quarter. Avior Wealth Management LLC now owns 404 shares of the company’s stock valued at $52,000 after acquiring an additional 399 shares in the last quarter. Finally, Eastern Bank acquired a new position in Revvity in the third quarter valued at $80,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Revvity Price Performance

Shares of RVTY opened at $123.16 on Wednesday. Revvity, Inc. has a twelve month low of $97.32 and a twelve month high of $129.50. The stock’s 50 day moving average is $117.06 and its two-hundred day moving average is $118.90. The firm has a market capitalization of $14.99 billion, a PE ratio of 55.73, a P/E/G ratio of 4.17 and a beta of 1.03. 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 (NYSE:RVTY) last announced its quarterly earnings data on Friday, January 31st. The company reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.05. Revvity had a return on equity of 7.68% and a net margin of 9.81%. During the same period last year, the firm posted $1.25 EPS. Research analysts anticipate that Revvity, Inc. will post 4.97 earnings per share for the current year.

Revvity declared that its Board of Directors has initiated a stock buyback program on Monday, November 4th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase up to 6.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Revvity Announces Dividend

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

Insider Activity

In other news, insider Tajinder S. Vohra sold 5,492 shares of Revvity stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total transaction of $641,520.52. Following the completion of the sale, the insider now directly owns 19,652 shares in the company, valued at approximately $2,295,550.12. This trade represents a 21.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Joel S. Goldberg sold 15,170 shares of Revvity stock in a transaction that occurred on 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 sale, the insider now owns 33,400 shares of the company’s stock, valued at approximately $4,232,782. The trade was a 31.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

RVTY has been the subject of several research analyst reports. KeyCorp upped 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. Raymond James reissued an “outperform” rating and set a $145.00 price target (up previously from $140.00) on shares of Revvity in a report on Monday. TD Cowen raised their price target on Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Leerink Partners raised their price target on Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Robert W. Baird raised their price target on Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $136.25.

Revvity Company 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.