State of New Jersey Common Pension Fund D Has $4.74 Million Stock Holdings in Revvity, Inc. (NYSE:RVTY)

State of New Jersey Common Pension Fund D cut its stake in Revvity, Inc. (NYSE:RVTY) by 35.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Czech National Bank increased its position in Revvity by 0.5% during the 1st quarter. Czech National Bank now owns 21,713 shares of the company’s stock worth $2,280,000 after buying an additional 99 shares during the period. TriaGen Wealth Management LLC increased its holdings in Revvity by 2.3% in the second quarter. TriaGen Wealth Management LLC now owns 4,767 shares of the company’s stock worth $500,000 after purchasing an additional 107 shares in the last quarter. Guinness Asset Management LTD grew its stake in Revvity by 3.3% in the second quarter. Guinness Asset Management LTD now owns 3,587 shares of the company’s stock valued at $376,000 after acquiring an additional 116 shares during the period. Inspire Investing LLC boosted its position in shares of Revvity by 2.9% during the first quarter. Inspire Investing LLC now owns 4,190 shares of the company’s stock valued at $440,000 after buying an additional 117 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Revvity by 3.6% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,899 shares of the company’s stock valued at $409,000 after buying an additional 135 shares during the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on RVTY shares. Bank of America boosted their target price on Revvity from $118.00 to $127.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Leerink Partnrs upgraded Revvity to a “strong-buy” rating in a report on Monday, July 8th. Citigroup increased their target price on Revvity from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. increased their target price on Revvity from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Finally, Barclays raised their price objective on Revvity from $115.00 to $125.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $126.00.

Insider Buying and Selling

In related news, insider Joel S. Goldberg sold 3,500 shares of Revvity stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $117.86, for a total transaction of $412,510.00. Following the sale, the insider now owns 33,400 shares of the company’s stock, valued at approximately $3,936,524. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.60% of the stock is currently owned by insiders.

Revvity Trading Up 0.6 %

Shares of RVTY opened at $122.76 on Tuesday. 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 firm’s 50-day moving average is $117.73 and its two-hundred day moving average is $110.15. Revvity, Inc. has a twelve month low of $79.50 and a twelve month high of $128.15. The firm has a market capitalization of $15.15 billion, a P/E ratio of 101.45, a PEG ratio of 2.87 and a beta of 1.05.

Revvity (NYSE:RVTY) last announced 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 for the quarter, compared to analyst estimates of $690.33 million. Revvity had a net margin of 6.26% and a return on equity of 7.34%. Revvity’s revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.21 earnings per share. On average, research analysts predict that Revvity, Inc. will post 4.75 earnings per share for the current fiscal year.

Revvity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 18th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.23%. The ex-dividend date of this dividend is Friday, October 18th. Revvity’s dividend payout ratio (DPR) is 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.