State of New Jersey Common Pension Fund D Sells 24,528 Shares of Revvity, Inc. (NYSE:RVTY)

State of New Jersey Common Pension Fund D trimmed its holdings in shares of Revvity, Inc. (NYSE:RVTY - Free Report) by 35.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,241 shares of the company's stock after selling 24,528 shares during the period. State of New Jersey Common Pension Fund D's holdings in Revvity were worth $4,744,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Nomura Asset Management Co. Ltd. acquired a new position in shares of Revvity during the fourth quarter worth approximately $3,593,000. Principal Financial Group Inc. bought a new position in Revvity in the 4th quarter valued at $15,213,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Revvity in the 4th quarter valued at $1,160,000. Commerce Bank bought a new stake in shares of Revvity during the fourth quarter worth $1,136,000. Finally, UniSuper Management Pty Ltd lifted its stake in shares of Revvity by 505.2% during the first quarter. UniSuper Management Pty Ltd now owns 9,864 shares of the company's stock valued at $1,036,000 after acquiring an additional 8,234 shares during the period. Institutional investors own 86.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Leerink Partnrs upgraded Revvity to a "strong-buy" rating in a research report on Monday, July 8th. TD Cowen lifted their price target on shares of Revvity from $130.00 to $141.00 and gave the stock a "buy" rating in a research report on Tuesday, July 30th. Leerink Partners initiated coverage on shares of Revvity in a report on Monday, July 8th. They issued an "outperform" rating and a $125.00 price objective on the stock. Jefferies Financial Group lifted their target price on shares of Revvity from $115.00 to $125.00 and gave the stock a "hold" rating in a report on Monday, July 29th. Finally, Bank of America increased their price target on Revvity from $118.00 to $127.00 and gave the company a "neutral" rating in a research note on Tuesday, July 30th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $126.00.

Insiders Place Their Bets

In related news, insider Joel S. Goldberg sold 3,500 shares of the firm's stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $117.86, for a total value of $412,510.00. Following the completion of the transaction, the insider now owns 33,400 shares of the company's stock, valued at $3,936,524. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.60% of the company's stock.

Revvity Stock Down 0.1 %

Shares of RVTY stock traded down $0.09 during trading hours on Tuesday, hitting $122.71. 533,186 shares of the company were exchanged, compared to its average volume of 835,878. Revvity, Inc. has a 52 week low of $79.50 and a 52 week high of $128.15. The company has a current ratio of 2.27, a quick ratio of 1.98 and a debt-to-equity ratio of 0.40. The business has a 50 day moving average of $117.73 and a two-hundred day moving average of $110.15. The company has a market capitalization of $15.14 billion, a PE ratio of 100.69, a PEG ratio of 2.87 and a beta of 1.05.

Revvity (NYSE:RVTY - Get Free Report) last released its earnings results on Monday, July 29th. The company reported $1.22 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.12 by $0.10. The firm had revenue of $691.70 million during the quarter, compared to analysts' expectations of $690.33 million. Revvity had a return on equity of 7.34% and a net margin of 6.26%. The company's revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.21 EPS. Analysts anticipate that Revvity, Inc. will post 4.75 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 18th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date is Friday, October 18th. Revvity's dividend payout ratio is presently 23.14%.

Revvity Company 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.