Kentucky Retirement Systems Sells 706 Shares of Revvity, Inc. (NYSE:RVTY)

Kentucky Retirement Systems lowered its holdings in Revvity, Inc. (NYSE:RVTY) by 7.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,592 shares of the company’s stock after selling 706 shares during the period. Kentucky Retirement Systems’ holdings in Revvity were worth $1,098,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. UniSuper Management Pty Ltd boosted its position in Revvity by 505.2% in the first quarter. UniSuper Management Pty Ltd now owns 9,864 shares of the company’s stock worth $1,036,000 after purchasing an additional 8,234 shares during the last quarter. Jane Street Group LLC boosted its position in Revvity by 516.4% in the first quarter. Jane Street Group LLC now owns 453,343 shares of the company’s stock worth $47,601,000 after purchasing an additional 379,802 shares during the last quarter. Quadrature Capital Ltd purchased a new position in Revvity in the first quarter worth $1,267,000. Assenagon Asset Management S.A. boosted its position in Revvity by 3,171.3% in the second quarter. Assenagon Asset Management S.A. now owns 87,180 shares of the company’s stock worth $9,142,000 after purchasing an additional 84,515 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in Revvity by 27.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 84,383 shares of the company’s stock worth $8,790,000 after purchasing an additional 18,367 shares during the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Revvity Price Performance

Shares of NYSE RVTY opened at $109.91 on Wednesday. The firm has a market capitalization of $13.38 billion, a P/E ratio of 53.10, a P/E/G ratio of 2.73 and a beta of 1.05. The company has a quick ratio of 2.97, a current ratio of 3.56 and a debt-to-equity ratio of 0.40. The stock’s 50-day simple moving average is $121.33 and its two-hundred day simple moving average is $115.50. Revvity, Inc. has a twelve month low of $86.30 and a twelve month high of $129.50.

Revvity (NYSE:RVTY) last announced its earnings results on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.15. The business had revenue of $684.10 million for the quarter, compared to analyst estimates of $679.66 million. Revvity had a return on equity of 7.42% and a net margin of 9.34%. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.18 EPS. As a group, equities analysts anticipate that Revvity, Inc. will post 4.85 EPS for the current fiscal year.

Revvity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.25%. Revvity’s dividend payout ratio is currently 13.53%.

Revvity declared that its Board of Directors has approved a stock repurchase plan on Monday, November 4th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 6.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

RVTY has been the topic of several research analyst reports. Wells Fargo & Company started coverage on Revvity in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 price objective on the stock. Sanford C. Bernstein dropped their price target on Revvity from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Jefferies Financial Group upped their price target on Revvity from $115.00 to $125.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Bank of America upped their price target on Revvity from $118.00 to $127.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Finally, TD Cowen upped their price target on Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $132.07.

Insiders Place Their Bets

In other news, insider Tajinder S. Vohra sold 2,154 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $121.73, for a total transaction of $262,206.42. Following the transaction, the insider now directly owns 19,652 shares in the company, valued at approximately $2,392,237.96. This represents a 9.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.60% of the company’s stock.

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.