Revvity, Inc. (NYSE:RVTY) Position Lowered by Kentucky Retirement Systems

Kentucky Retirement Systems decreased its stake in shares of Revvity, Inc. (NYSE:RVTY) by 1.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 8,476 shares of the company’s stock after selling 116 shares during the quarter. Kentucky Retirement Systems’ holdings in Revvity were worth $946,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Gladius Capital Management LP bought a new position in Revvity in the third quarter worth about $32,000. Continuum Advisory LLC lifted its holdings in Revvity by 2,972.7% in the third quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock worth $43,000 after acquiring an additional 327 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in Revvity by 55.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock worth $43,000 after acquiring an additional 138 shares during the last quarter. Avior Wealth Management LLC lifted its holdings in Revvity by 7,980.0% in the third quarter. Avior Wealth Management LLC now owns 404 shares of the company’s stock worth $52,000 after acquiring an additional 399 shares during the last quarter. Finally, Principal Securities Inc. lifted its holdings in Revvity by 54.9% in the fourth quarter. Principal Securities Inc. now owns 598 shares of the company’s stock worth $67,000 after acquiring an additional 212 shares during the last quarter. Institutional investors own 86.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RVTY. Sanford C. Bernstein cut shares of Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 target price on the stock. in a report on Friday, January 10th. KeyCorp lifted their price target on Revvity from $132.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. TD Cowen lifted their price target on Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Raymond James reaffirmed an “outperform” rating and set a $145.00 price target (up previously from $140.00) on shares of Revvity in a report on Monday, February 3rd. Finally, Barclays lifted their price target on Revvity from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Revvity presently has an average rating of “Moderate Buy” and a consensus price target of $136.25.

Insiders Place Their Bets

In other Revvity news, insider Joel S. Goldberg sold 15,170 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $126.73, for a total value of $1,922,494.10. Following the transaction, the insider now owns 33,400 shares of the company’s stock, valued at approximately $4,232,782. This represents a 31.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tajinder S. Vohra sold 5,492 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total value of $641,520.52. Following the completion of the transaction, the insider now directly owns 19,652 shares in the company, valued at $2,295,550.12. This represents a 21.84 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by company insiders.

Revvity Price Performance

NYSE RVTY opened at $114.95 on Tuesday. Revvity, Inc. has a 12 month low of $97.32 and a 12 month high of $129.50. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.60 and a quick ratio of 3.03. The firm has a market capitalization of $13.99 billion, a PE ratio of 52.01, a P/E/G ratio of 3.82 and a beta of 1.03. The company’s 50 day simple moving average is $116.76 and its 200 day simple moving average is $118.64.

Revvity (NYSE:RVTY) last posted its quarterly earnings data on Friday, January 31st. The company reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.05. Revvity had a net margin of 9.81% and a return on equity of 7.68%. During the same quarter last year, the firm earned $1.25 EPS. As a group, equities research analysts forecast that Revvity, Inc. will post 4.94 EPS for the current fiscal year.

Revvity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 18th will be paid a dividend of $0.07 per share. The ex-dividend date is Thursday, April 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.24%. Revvity’s dividend payout ratio is presently 12.67%.

Revvity declared that its board has initiated a stock buyback plan on Monday, November 4th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 6.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

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.