California Public Employees Retirement System Sells 10,417 Shares of Revvity, Inc. (NYSE:RVTY)

California Public Employees Retirement System trimmed its holdings in shares of Revvity, Inc. (NYSE:RVTY - Free Report) by 4.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 247,779 shares of the company's stock after selling 10,417 shares during the quarter. California Public Employees Retirement System owned 0.20% of Revvity worth $27,655,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Revvity by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 14,290,211 shares of the company's stock valued at $1,594,930,000 after purchasing an additional 156,679 shares during the last quarter. State Street Corp grew its position in 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 buying an additional 17,832 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Revvity by 2.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,382,338 shares of the company's stock worth $384,234,000 after acquiring an additional 69,034 shares during the period. Geode Capital Management LLC grew its position in shares of Revvity by 0.9% during the 3rd 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 during the period. Finally, EdgePoint Investment Group Inc. increased its stake in shares of Revvity by 34.6% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 2,685,775 shares of the company's stock worth $343,108,000 after purchasing an additional 690,534 shares during the last quarter. 86.65% of the stock is currently owned by institutional investors.

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Insider Buying and Selling

In related news, insider Joel S. Goldberg sold 15,170 shares of the 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 $4,232,782. This represents a 31.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.68% of the stock is owned by company insiders.

Revvity Price Performance

NYSE RVTY traded up $0.87 on Tuesday, hitting $97.03. The stock had a trading volume of 186,303 shares, compared to its average volume of 884,369. The firm has a 50-day moving average of $112.62 and a 200-day moving average of $116.22. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.03 and a current ratio of 3.60. Revvity, Inc. has a 52-week low of $91.00 and a 52-week high of $129.50. The company has a market capitalization of $11.66 billion, a price-to-earnings ratio of 43.81, a price-to-earnings-growth ratio of 3.82 and a beta of 1.07.

Revvity (NYSE:RVTY - Get Free Report) last issued its quarterly earnings data on Friday, January 31st. The company reported $1.42 earnings per share (EPS) for the quarter, topping 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 period in the prior year, the firm earned $1.25 EPS. Equities analysts expect that Revvity, Inc. will post 4.94 EPS for the current year.

Revvity Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 18th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend is Thursday, April 17th. Revvity's payout ratio is 12.67%.

Analysts Set New Price Targets

RVTY has been the subject of several research reports. Raymond James reissued an "outperform" rating and set a $145.00 price objective (up from $140.00) on shares of Revvity in a report 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 for the company. in a research note on Friday, January 10th. Barclays lifted their price objective on Revvity from $135.00 to $140.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. KeyCorp upped their price objective on shares of Revvity from $132.00 to $145.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Finally, Bank of America raised shares of Revvity from a "neutral" rating to a "buy" rating and set a $138.00 price target on the stock in a research report on Friday, December 13th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average 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.