New York State Teachers Retirement System Sells 5,511 Shares of Revvity, Inc. (NYSE:RVTY)

New York State Teachers Retirement System trimmed its position in Revvity, Inc. (NYSE:RVTY - Free Report) by 4.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 111,569 shares of the company's stock after selling 5,511 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of Revvity worth $12,452,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of RVTY. EdgePoint Investment Group Inc. raised its holdings in Revvity by 34.6% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 2,685,775 shares of the company's stock worth $343,108,000 after acquiring an additional 690,534 shares during the period. Southpoint Capital Advisors LP acquired a new stake in shares of Revvity in the third quarter valued at about $25,550,000. Janus Henderson Group PLC increased its stake in shares of 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 purchasing an additional 108,401 shares during the period. Holocene Advisors LP lifted its position in shares of Revvity by 14.6% during the 3rd quarter. Holocene Advisors LP now owns 725,917 shares of the company's stock worth $92,736,000 after purchasing an additional 92,240 shares during the last quarter. Finally, Contravisory Investment Management Inc. boosted its stake in Revvity by 1,715.9% during the 4th 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. 86.65% of the stock is owned by institutional investors.

Insider Buying and Selling 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 transaction, the insider now directly owns 19,652 shares of the company's stock, valued at $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 is available through the SEC website. Also, insider Joel S. Goldberg sold 15,170 shares of the firm's stock in a transaction 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 of the company's stock, valued at $4,232,782. This represents a 31.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.60% of the company's stock.

Analyst Upgrades and Downgrades

RVTY has been the topic of several recent analyst reports. Raymond James reaffirmed an "outperform" rating and issued a $145.00 price target (up from $140.00) on shares of Revvity in a research report on Monday, February 3rd. Robert W. Baird raised their price objective on shares of Revvity from $136.00 to $138.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 5th. KeyCorp upped their target price on shares of Revvity from $132.00 to $145.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Sanford C. Bernstein downgraded shares of Revvity from an "outperform" rating to a "market perform" rating and set a $130.00 price target for the company. in a report on Friday, January 10th. Finally, Barclays boosted their price objective on shares of Revvity from $135.00 to $140.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $136.25.

Revvity Price Performance

NYSE RVTY traded down $1.00 on Friday, reaching $113.72. The company's stock had a trading volume of 658,369 shares, compared to its average volume of 922,937. The firm has a market cap of $13.84 billion, a PE ratio of 51.46, a price-to-earnings-growth ratio of 3.83 and a beta of 1.03. The company has a current ratio of 3.60, a quick ratio of 3.03 and a debt-to-equity ratio of 0.41. Revvity, Inc. has a 52 week low of $97.32 and a 52 week high of $129.50. The business has a 50-day moving average price of $116.80 and a 200 day moving average price of $118.68.

Revvity (NYSE:RVTY - Get Free Report) last released its quarterly earnings data on Friday, January 31st. The company reported $1.42 earnings per share for the quarter, beating 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 period last year, the company posted $1.25 EPS. Sell-side analysts expect that Revvity, Inc. will post 4.94 EPS for the current year.

Revvity announced that its Board of Directors has approved a stock repurchase program on Monday, November 4th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 6.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

Revvity Dividend Announcement

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 paid a dividend of $0.07 per share. The ex-dividend date is Thursday, April 17th. This represents a $0.28 annualized dividend and a yield of 0.25%. Revvity's dividend payout ratio is currently 12.67%.

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.