Commonwealth of Pennsylvania Public School Empls Retrmt SYS Trims Position in Revvity, Inc. (NYSE:RVTY)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its stake in Revvity, Inc. (NYSE:RVTY) by 3.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,877 shares of the company’s stock after selling 972 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Revvity were worth $2,888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in RVTY. Royal London Asset Management Ltd. boosted its holdings in shares of Revvity by 15.5% in the fourth quarter. Royal London Asset Management Ltd. now owns 50,437 shares of the company’s stock valued at $5,629,000 after purchasing an additional 6,770 shares during the period. Generali Investments Management Co LLC purchased a new stake in shares of Revvity in the 4th quarter worth $385,000. Primecap Management Co. CA grew its position in shares of Revvity by 2.0% during the 4th quarter. Primecap Management Co. CA now owns 951,885 shares of the company’s stock worth $106,240,000 after buying an additional 18,580 shares in the last quarter. Tocqueville Asset Management L.P. grew its position in shares of Revvity by 91.2% during the 4th quarter. Tocqueville Asset Management L.P. now owns 234,625 shares of the company’s stock worth $26,186,000 after buying an additional 111,937 shares in the last quarter. Finally, Signaturefd LLC increased its stake in shares of Revvity by 6.8% during the fourth quarter. Signaturefd LLC now owns 1,668 shares of the company’s stock valued at $186,000 after buying an additional 106 shares during the period. 86.65% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Joel S. Goldberg sold 15,170 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 33,400 shares in the company, valued at $4,232,782. This trade represents a 31.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Tajinder S. Vohra sold 5,492 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 19,652 shares in the company, valued at approximately $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 insiders.

Revvity Price Performance

Shares of NYSE RVTY opened at $108.60 on Tuesday. Revvity, Inc. has a fifty-two week low of $97.32 and a fifty-two week high of $129.50. The company has a market cap of $13.05 billion, a PE ratio of 49.14, a P/E/G ratio of 3.82 and a beta of 1.06. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.03 and a current ratio of 3.60. The business has a 50-day simple moving average of $116.15 and a two-hundred day simple moving average of $117.48.

Revvity (NYSE:RVTY) last released its earnings results on Friday, January 31st. The company reported $1.42 EPS for the quarter, topping 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 period in the previous year, the firm posted $1.25 earnings per share. As a group, equities analysts expect that Revvity, Inc. will post 4.94 EPS for the current fiscal year.

Revvity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 18th will be paid a $0.07 dividend. The ex-dividend date is Thursday, April 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.26%. Revvity’s dividend payout ratio (DPR) is 12.67%.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Barclays increased their target price on shares of Revvity from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Raymond James reiterated an “outperform” rating and set a $145.00 price objective (up from $140.00) on shares of Revvity in a research note on Monday, February 3rd. Bank of America raised shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price objective for the company in a research note on Friday, December 13th. KeyCorp upped their target price on Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Sanford C. Bernstein downgraded Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price target on the stock. in a report on Friday, January 10th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $136.25.

Revvity 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.