State of Alaska Department of Revenue Sells 480 Shares of Revvity, Inc. (NYSE:RVTY)

State of Alaska Department of Revenue lessened its stake in shares of Revvity, Inc. (NYSE:RVTY) by 3.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,877 shares of the company’s stock after selling 480 shares during the quarter. State of Alaska Department of Revenue’s holdings in Revvity were worth $1,548,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Janus Henderson Group PLC raised its position in Revvity by 1.7% in the 3rd quarter. Janus Henderson Group PLC now owns 6,335,302 shares of the company’s stock valued at $809,332,000 after purchasing an additional 108,401 shares during the last quarter. State Street Corp raised its position in Revvity by 0.3% in the 3rd quarter. State Street Corp now owns 5,180,169 shares of the company’s stock valued at $661,767,000 after purchasing an additional 17,832 shares during the last quarter. Geode Capital Management LLC raised its position in Revvity by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,863,793 shares of the company’s stock valued at $364,569,000 after purchasing an additional 25,078 shares during the last quarter. EdgePoint Investment Group Inc. raised its position in Revvity by 34.6% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 2,685,775 shares of the company’s stock valued at $343,108,000 after purchasing an additional 690,534 shares during the last quarter. Finally, RGM Capital LLC raised its position in Revvity by 3.2% in the 3rd quarter. RGM Capital LLC now owns 980,858 shares of the company’s stock valued at $125,305,000 after purchasing an additional 30,000 shares during the last quarter. Institutional investors own 86.65% of the company’s stock.

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 dated 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 directly owns 19,652 shares in the company, valued at $2,295,550.12. The trade was a 21.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Joel S. Goldberg sold 15,170 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now owns 33,400 shares in the company, valued at approximately $4,232,782. This trade represents a 31.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Leerink Partners lifted their price objective on Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. TD Cowen lifted their target price on Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Raymond James reissued an “outperform” rating and issued a $145.00 target price (up from $140.00) on shares of Revvity in a research note on Monday, February 3rd. Robert W. Baird lifted their target price on Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Finally, KeyCorp lifted their target price on Revvity from $132.00 to $145.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $136.25.

Revvity Stock Down 1.1 %

Shares of Revvity stock opened at $111.34 on Thursday. The company has a quick ratio of 3.03, a current ratio of 3.60 and a debt-to-equity ratio of 0.41. Revvity, Inc. has a 12 month low of $97.32 and a 12 month high of $129.50. The business has a fifty day simple moving average of $117.38 and a 200 day simple moving average of $119.20. The stock has a market cap of $13.55 billion, a PE ratio of 50.38, a price-to-earnings-growth ratio of 3.97 and a beta of 1.03.

Revvity (NYSE:RVTY) last announced its quarterly earnings data on Friday, January 31st. The company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates 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 firm earned $1.25 earnings per share. Research analysts predict that Revvity, Inc. will post 4.94 EPS for the current year.

Revvity announced that its board has initiated a stock repurchase program on Monday, November 4th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes 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 stock is undervalued.

Revvity Dividend Announcement

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

About Revvity

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.