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

Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Revvity Inc. (NYSE:RVTY) by 6.8% during the first quarter, HoldingsChannel reports. The firm owned 4,488 shares of the company’s stock after purchasing an additional 286 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Revvity were worth $475,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Raymond James Financial Inc. acquired a new stake in shares of Revvity during the 4th quarter worth $2,248,000. Mariner LLC increased its holdings in shares of Revvity by 9.8% during the 4th quarter. Mariner LLC now owns 7,746 shares of the company’s stock worth $865,000 after buying an additional 689 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of Revvity by 4.6% during the 4th quarter. Marshall Wace LLP now owns 3,556 shares of the company’s stock worth $397,000 after buying an additional 156 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of Revvity by 18.5% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 86,081 shares of the company’s stock worth $9,606,000 after buying an additional 13,428 shares during the last quarter. Finally, Capital International Sarl increased its holdings in shares of Revvity by 1.8% during the 4th quarter. Capital International Sarl now owns 12,024 shares of the company’s stock worth $1,342,000 after buying an additional 216 shares during the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Revvity Stock Performance

NYSE:RVTY opened at $90.91 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.33 and a quick ratio of 2.75. The firm has a 50-day moving average of $94.94 and a two-hundred day moving average of $100.20. The stock has a market cap of $10.55 billion, a P/E ratio of 38.52, a PEG ratio of 2.40 and a beta of 0.91. Revvity Inc. has a 1-year low of $85.12 and a 1-year high of $129.50.

Revvity (NYSE:RVTY) last posted its quarterly earnings data on Monday, July 28th. The company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. Revvity had a net margin of 10.19% and a return on equity of 7.66%. The company had revenue of $720.28 million during the quarter, compared to analysts’ expectations of $711.26 million. During the same period in the prior year, the company posted $1.22 EPS. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, research analysts expect that Revvity Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 7th. Stockholders of record on Friday, October 17th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, October 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.3%. Revvity’s dividend payout ratio (DPR) is presently 11.86%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on RVTY shares. JPMorgan Chase & Co. dropped their price objective on Revvity from $120.00 to $100.00 and set a “neutral” rating for the company in a report on Tuesday, April 29th. Bank of America lowered their price target on Revvity from $116.00 to $110.00 and set a “buy” rating for the company in a report on Thursday, June 26th. Wall Street Zen downgraded Revvity from a “buy” rating to a “hold” rating in a report on Sunday, August 3rd. Evercore ISI lowered their price target on Revvity from $116.00 to $115.00 and set an “outperform” rating for the company in a report on Tuesday, July 8th. Finally, UBS Group upgraded Revvity from a “neutral” rating to a “buy” rating and lowered their price target for the company from $145.00 to $115.00 in a report on Thursday, May 1st. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $120.07.

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.