Maryland State Retirement & Pension System Sells 460 Shares of Revvity, Inc. (NYSE:RVTY)

Maryland State Retirement & Pension System lowered its position in Revvity, Inc. (NYSE:RVTY) by 6.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 6,568 shares of the company’s stock after selling 460 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Revvity were worth $733,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of RVTY. Janus Henderson Group PLC increased its position in Revvity by 1.7% during the 3rd quarter. Janus Henderson Group PLC now owns 6,335,302 shares of the company’s stock valued at $809,332,000 after buying an additional 108,401 shares in the last quarter. State Street Corp increased its holdings in shares of Revvity by 0.3% during the third quarter. State Street Corp now owns 5,180,169 shares of the company’s stock valued at $661,767,000 after acquiring an additional 17,832 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Revvity by 0.9% during the third quarter. Geode Capital Management LLC now owns 2,863,793 shares of the company’s stock valued at $364,569,000 after acquiring an additional 25,078 shares in the last quarter. EdgePoint Investment Group Inc. raised its position in shares of Revvity by 34.6% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 2,685,775 shares of the company’s stock valued at $343,108,000 after purchasing an additional 690,534 shares during the last quarter. Finally, RGM Capital LLC boosted its stake in Revvity by 3.2% in the 3rd quarter. RGM Capital LLC now owns 980,858 shares of the company’s stock worth $125,305,000 after purchasing an additional 30,000 shares in the last quarter. Institutional investors own 86.65% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on RVTY shares. Bank of America raised shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price target for the company in a report on Friday, December 13th. Barclays raised their target price on Revvity from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. 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 research note on Friday, January 10th. KeyCorp raised their price objective on Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Raymond James reaffirmed an “outperform” rating and set a $145.00 target price (up previously from $140.00) on shares of Revvity in a report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $136.25.

Insider Activity at Revvity

In related news, insider Joel S. Goldberg sold 15,170 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $126.73, for a total value of $1,922,494.10. Following the transaction, the insider now directly owns 33,400 shares of the company’s stock, valued at approximately $4,232,782. This trade represents a 31.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Tajinder S. Vohra sold 5,492 shares of Revvity stock in a transaction dated Tuesday, January 7th. The stock was 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. The trade was a 21.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is owned by corporate insiders.

Revvity Price Performance

NYSE:RVTY opened at $108.60 on Tuesday. The company has a 50 day moving average price of $116.15 and a 200-day moving average price of $117.48. Revvity, Inc. has a 1-year low of $97.32 and a 1-year high of $129.50. The firm has a market cap of $13.05 billion, a price-to-earnings ratio of 49.14, a price-to-earnings-growth ratio of 3.82 and a beta of 1.06. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.60 and a quick ratio of 3.03.

Revvity (NYSE:RVTY) last posted its earnings results 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 return on equity of 7.68% and a net margin of 9.81%. During the same quarter in the previous year, the firm posted $1.25 EPS. Equities research analysts forecast that Revvity, Inc. will post 4.94 EPS for the current year.

Revvity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 18th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.26%. The ex-dividend date of this dividend is Thursday, April 17th. Revvity’s payout ratio is 12.67%.

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.