New York State Common Retirement Fund lessened its position in Revvity, Inc. (NYSE:RVTY - Free Report) by 6.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,611 shares of the company's stock after selling 4,500 shares during the period. New York State Common Retirement Fund owned about 0.06% of Revvity worth $7,769,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in Revvity by 13.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 344,115 shares of the company's stock valued at $43,961,000 after buying an additional 41,497 shares during the period. Contravisory Investment Management Inc. grew its holdings in Revvity by 1,715.9% in the fourth quarter. Contravisory Investment Management Inc. now owns 69,186 shares of the company's stock valued at $7,722,000 after purchasing an additional 65,376 shares during the period. Bretton Capital Management LLC acquired a new position in Revvity during the third quarter worth approximately $1,405,000. FMR LLC increased its position in Revvity by 40.8% during the third quarter. FMR LLC now owns 155,556 shares of the company's stock worth $19,872,000 after purchasing an additional 45,040 shares during the last quarter. Finally, International Assets Investment Management LLC raised its stake in Revvity by 12,674.8% during the third quarter. International Assets Investment Management LLC now owns 13,669 shares of the company's stock worth $1,746,000 after purchasing an additional 13,562 shares during the period. Hedge funds and other institutional investors own 86.65% of the company's stock.
Insider Transactions at Revvity
In other news, insider Tajinder S. Vohra sold 5,492 shares of the business's stock in a transaction that occurred on 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 directly owns 19,652 shares in the company, valued at approximately $2,295,550.12. The trade was a 21.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joel S. Goldberg sold 15,170 shares of the company's stock in a transaction that occurred on 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 sale, the insider now directly owns 33,400 shares in the company, valued at approximately $4,232,782. This represents a 31.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.60% of the company's stock.
Revvity Stock Up 1.7 %
NYSE:RVTY traded up $1.83 on Friday, reaching $112.28. The stock had a trading volume of 1,309,481 shares, compared to its average volume of 915,228. The company has a 50-day moving average of $116.88 and a 200 day moving average of $118.47. The company has a current ratio of 3.60, a quick ratio of 3.03 and a debt-to-equity ratio of 0.41. The stock has a market cap of $13.66 billion, a P/E ratio of 50.81, a price-to-earnings-growth ratio of 3.82 and a beta of 1.03. Revvity, Inc. has a 12-month low of $97.32 and a 12-month high of $129.50.
Revvity (NYSE:RVTY - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate 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 prior year, the firm posted $1.25 EPS. On average, research analysts predict that Revvity, Inc. will post 4.94 earnings per share for the current year.
Revvity declared that its board has initiated a share buyback program on Monday, November 4th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 6.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.
Revvity Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Shareholders 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 yield of 0.25%. The ex-dividend date is Thursday, April 17th. Revvity's dividend payout ratio is currently 12.67%.
Wall Street Analyst Weigh In
RVTY has been the subject of a number of research analyst reports. Barclays upped 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. Sanford C. Bernstein lowered 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. TD Cowen lifted their price objective on Revvity from $141.00 to $144.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. KeyCorp raised their price target 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, 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. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $136.25.
Check Out Our Latest Report on Revvity
About Revvity
(
Free Report)
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.
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