Retirement Systems of Alabama Makes New $2.97 Million Investment in Revvity, Inc. (NYSE:RVTY)

Retirement Systems of Alabama bought a new stake in shares of Revvity, Inc. (NYSE:RVTY) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 27,198 shares of the company’s stock, valued at approximately $2,973,000.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. purchased a new stake in shares of Revvity in the 3rd quarter worth $1,579,487,000. Ceredex Value Advisors LLC bought a new position in Revvity during the 4th quarter worth about $108,353,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Revvity during the 4th quarter valued at about $33,568,000. Boston Trust Walden Corp bought a new stake in shares of Revvity in the 4th quarter valued at about $25,154,000. Finally, KBC Group NV purchased a new stake in shares of Revvity in the 3rd quarter worth approximately $25,301,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Revvity Trading Up 0.3 %

NYSE:RVTY opened at $103.17 on Wednesday. The company has a market capitalization of $12.74 billion, a P/E ratio of 85.27, a PEG ratio of 2.62 and a beta of 1.09. The company has a current ratio of 2.23, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. Revvity, Inc. has a 12 month low of $79.50 and a 12 month high of $131.96. The firm has a fifty day simple moving average of $104.48 and a 200-day simple moving average of $101.27.

Revvity (NYSE:RVTY) last issued its quarterly earnings results on Monday, April 29th. The company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.04. The company had revenue of $649.90 million during the quarter, compared to analysts’ expectations of $646.83 million. Revvity had a return on equity of 7.37% and a net margin of 5.49%. The firm’s revenue was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.01 EPS. On average, equities research analysts anticipate that Revvity, Inc. will post 4.66 earnings per share for the current year.

Revvity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 19th will be issued a $0.07 dividend. The ex-dividend date is Friday, July 19th. This represents a $0.28 annualized dividend and a yield of 0.27%. Revvity’s dividend payout ratio (DPR) is presently 23.14%.

Analyst Upgrades and Downgrades

RVTY has been the subject of a number of recent research reports. Barclays boosted their price objective on shares of Revvity from $92.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 25th. Robert W. Baird upped their price objective on Revvity from $126.00 to $127.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 30th. UBS Group lowered Revvity from a “buy” rating to a “neutral” rating and lifted their target price for the company from $105.00 to $125.00 in a research note on Tuesday, January 16th. Raymond James increased their price target on shares of Revvity from $106.00 to $127.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Finally, KeyCorp lifted their price objective on shares of Revvity from $110.00 to $126.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Revvity presently has an average rating of “Moderate Buy” and a consensus target price of $118.17.

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.