Sumitomo Mitsui DS Asset Management Company Ltd Has $343,000 Stock Position in Revvity Inc. $RVTY

Sumitomo Mitsui DS Asset Management Company Ltd reduced its position in Revvity Inc. (NYSE:RVTY) by 73.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,542 shares of the company’s stock after selling 9,864 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Revvity were worth $343,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in RVTY. EdgePoint Investment Group Inc. increased its stake in shares of Revvity by 26.3% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 8,574,280 shares of the company’s stock valued at $751,536,000 after buying an additional 1,784,620 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Revvity by 127.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,751,612 shares of the company’s stock valued at $171,921,000 after buying an additional 980,142 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Revvity by 39.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,125,957 shares of the company’s stock valued at $186,307,000 after buying an additional 596,436 shares during the period. Neuberger Berman Group LLC increased its stake in shares of Revvity by 4,598.9% in the 3rd quarter. Neuberger Berman Group LLC now owns 460,447 shares of the company’s stock valued at $40,358,000 after buying an additional 450,648 shares during the period. Finally, Diamond Hill Capital Management Inc. acquired a new stake in shares of Revvity in the 3rd quarter valued at $35,206,000. 86.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on RVTY shares. The Goldman Sachs Group lowered their target price on Revvity from $110.00 to $95.00 and set a “neutral” rating for the company in a research note on Tuesday, April 14th. Wells Fargo & Company lifted their target price on Revvity from $107.00 to $110.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 3rd. Weiss Ratings cut Revvity from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, March 18th. TD Cowen lifted their target price on Revvity from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Evercore lifted their price objective on Revvity from $112.00 to $118.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. Four research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $107.73.

Revvity Stock Performance

RVTY stock opened at $101.32 on Monday. The business’s 50-day moving average price is $90.30 and its two-hundred day moving average price is $96.90. The company has a current ratio of 1.72, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37. The firm has a market cap of $11.33 billion, a PE ratio of 48.48, a P/E/G ratio of 2.18 and a beta of 1.05. Revvity Inc. has a 1-year low of $81.22 and a 1-year high of $118.30.

Revvity (NYSE:RVTY) last posted its earnings results on Tuesday, May 5th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.04. The firm had revenue of $711.12 million for the quarter, compared to analyst estimates of $704.07 million. Revvity had a return on equity of 8.00% and a net margin of 8.26%.The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.01 earnings per share. Revvity has set its FY 2026 guidance at 5.200-5.300 EPS. As a group, research analysts forecast that Revvity Inc. will post 5.33 earnings per share for the current year.

Revvity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Shareholders of record on Friday, July 17th will be issued a dividend of $0.07 per share. The ex-dividend date is Friday, July 17th. This represents a $0.28 annualized dividend and a yield of 0.3%. Revvity’s payout ratio is currently 13.40%.

About Revvity

Revvity, Inc is a global provider of technology-enabled solutions for the life sciences, diagnostics and applied markets. The company develops and supplies a range of products and services, including reagents and consumables, laboratory instruments, workflow automation, software analytics and technical support. Its portfolio supports applications in drug discovery, genomics, cell biology research, environmental and food safety testing, industrial quality control and clinical diagnostics.

Tracing its heritage to Perkin-Elmer, founded in 1937, Revvity began trading on the New York Stock Exchange under the ticker symbol RVTY in January 2024 following a corporate rebranding.