Revvity, Inc. (NYSE:RVTY) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama cut its holdings in Revvity, Inc. (NYSE:RVTY) by 0.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 26,984 shares of the company’s stock after selling 234 shares during the period. Retirement Systems of Alabama’s holdings in Revvity were worth $3,447,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Janus Henderson Group PLC lifted its holdings in Revvity by 1.7% in the third quarter. Janus Henderson Group PLC now owns 6,335,302 shares of the company’s stock worth $809,332,000 after acquiring an additional 108,401 shares during the last quarter. State Street Corp raised its position in shares of Revvity by 0.3% during the 3rd quarter. State Street Corp now owns 5,180,169 shares of the company’s stock worth $661,767,000 after purchasing an additional 17,832 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Revvity by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,863,793 shares of the company’s stock worth $364,569,000 after purchasing an additional 25,078 shares during the last quarter. EdgePoint Investment Group Inc. boosted its position in Revvity by 34.6% during 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 period. Finally, Dimensional Fund Advisors LP grew its stake in Revvity by 5.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,149,122 shares of the company’s stock worth $120,506,000 after buying an additional 57,656 shares during the last quarter. Institutional investors own 86.65% of the company’s stock.

Revvity Trading Up 1.3 %

Shares of NYSE RVTY opened at $110.54 on Friday. The company has a quick ratio of 2.97, a current ratio of 3.56 and a debt-to-equity ratio of 0.40. Revvity, Inc. has a 12 month low of $97.32 and a 12 month high of $129.50. The company has a market cap of $13.45 billion, a price-to-earnings ratio of 53.40, a P/E/G ratio of 3.59 and a beta of 1.03. The business has a fifty day simple moving average of $117.36 and a 200-day simple moving average of $116.43.

Revvity (NYSE:RVTY) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.15. The company had revenue of $684.10 million during the quarter, compared to analyst estimates of $679.66 million. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.18 earnings per share. Sell-side analysts predict that Revvity, Inc. will post 4.85 EPS for the current year.

Revvity Dividend Announcement

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

Revvity declared that its Board of Directors has authorized a share repurchase plan on Monday, November 4th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to reacquire up to 6.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

RVTY has been the subject of several analyst reports. Leerink Partners boosted their price target on shares of Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Bank of America raised shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 target price for the company in a research note on Friday, December 13th. Sanford C. Bernstein cut their price target on Revvity from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Robert W. Baird lifted their target price on Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Finally, TD Cowen raised 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. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Revvity currently has an average rating of “Moderate Buy” and a consensus price target of $132.47.

Insiders Place Their Bets

In other Revvity news, insider Tajinder S. Vohra sold 2,154 shares of the firm’s 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 completion of the sale, the insider now directly owns 19,652 shares in the company, valued at approximately $2,392,237.96. This trade represents a 9.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

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.