Revvity, Inc. (NYSE:RVTY) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama trimmed its stake in shares of Revvity, Inc. (NYSE:RVTY) by 2.4% in the 4th quarter, HoldingsChannel reports. The firm owned 26,349 shares of the company’s stock after selling 635 shares during the period. Retirement Systems of Alabama’s holdings in Revvity were worth $2,941,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. EdgePoint Investment Group Inc. lifted its holdings in 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 buying an additional 690,534 shares during the last quarter. Southpoint Capital Advisors LP purchased a new stake in Revvity during the 3rd quarter worth about $25,550,000. Janus Henderson Group PLC lifted its holdings in Revvity by 1.7% during the 3rd quarter. Janus Henderson Group PLC now owns 6,335,302 shares of the company’s stock worth $809,332,000 after buying an additional 108,401 shares during the last quarter. Holocene Advisors LP lifted its holdings in 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 buying an additional 92,240 shares during the last quarter. Finally, Contravisory Investment Management Inc. lifted its holdings in Revvity by 1,715.9% during the 4th quarter. Contravisory Investment Management Inc. now owns 69,186 shares of the company’s stock worth $7,722,000 after buying an additional 65,376 shares during the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Tajinder S. Vohra sold 5,492 shares of the company’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 sale, the insider now owns 19,652 shares in the company, valued at $2,295,550.12. This represents a 21.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 stock was sold at an average price of $126.73, for a total value of $1,922,494.10. Following the completion of the sale, the insider now owns 33,400 shares in the company, valued at approximately $4,232,782. This represents a 31.23 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Revvity Stock Performance

NYSE RVTY opened at $112.48 on Wednesday. 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 business’s 50 day moving average is $117.43 and its two-hundred day moving average is $119.22. Revvity, Inc. has a 12-month low of $97.32 and a 12-month high of $129.50. The stock has a market capitalization of $13.69 billion, a price-to-earnings ratio of 50.90, a PEG ratio of 3.97 and a beta of 1.03.

Revvity (NYSE:RVTY) last released its earnings results 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 previous year, the business posted $1.25 EPS. Research analysts expect that Revvity, Inc. will post 4.94 EPS for the current year.

Revvity announced that its board has initiated a share repurchase plan on Monday, November 4th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 6.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Revvity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 18th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date of this dividend is Thursday, April 17th. Revvity’s dividend payout ratio is currently 12.67%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Leerink Partners boosted their target price on Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. TD Cowen boosted their target price on Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. KeyCorp boosted their target price on Revvity from $132.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Bank of America raised Revvity from a “neutral” rating to a “buy” rating and set a $138.00 target price for the company in a report on Friday, December 13th. Finally, Robert W. Baird boosted their target price on Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Revvity currently has an average rating of “Moderate Buy” and an average price target 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.