New York State Common Retirement Fund Reduces Stock Position in Revvity, Inc. (NYSE:RVTY)

New York State Common Retirement Fund trimmed its holdings in shares of Revvity, Inc. (NYSE:RVTY) by 6.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 69,611 shares of the company’s stock after selling 4,500 shares during the quarter. New York State Common Retirement Fund owned 0.06% of Revvity worth $7,769,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in RVTY. Empirical Finance LLC lifted its position in Revvity by 2.0% in the third quarter. Empirical Finance LLC now owns 4,237 shares of the company’s stock worth $541,000 after buying an additional 85 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Revvity by 2.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,214 shares of the company’s stock valued at $470,000 after acquiring an additional 100 shares during the period. HB Wealth Management LLC lifted its holdings in shares of Revvity by 4.6% in the 4th quarter. HB Wealth Management LLC now owns 2,380 shares of the company’s stock worth $266,000 after acquiring an additional 104 shares during the last quarter. Westside Investment Management Inc. boosted its stake in shares of Revvity by 0.8% during the 4th quarter. Westside Investment Management Inc. now owns 14,363 shares of the company’s stock worth $1,603,000 after purchasing an additional 108 shares during the period. Finally, Coldstream Capital Management Inc. boosted its stake in shares of Revvity by 5.1% during the 3rd quarter. Coldstream Capital Management Inc. now owns 2,247 shares of the company’s stock worth $286,000 after purchasing an additional 110 shares during the period. Institutional investors own 86.65% of the company’s stock.

Revvity Stock Down 0.4 %

NYSE:RVTY opened at $115.00 on Thursday. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.60 and a quick ratio of 3.03. Revvity, Inc. has a 1-year low of $97.32 and a 1-year high of $129.50. The company has a 50-day moving average of $116.89 and a 200 day moving average of $118.57. The firm has a market cap of $14.00 billion, a PE ratio of 52.04, a price-to-earnings-growth ratio of 3.82 and a beta of 1.03.

Revvity (NYSE:RVTY) last announced its quarterly earnings results on Friday, January 31st. The company reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.05. Revvity had a net margin of 9.81% and a return on equity of 7.68%. During the same period in the previous year, the firm posted $1.25 earnings per share. As a group, research analysts anticipate that Revvity, Inc. will post 4.94 EPS for the current fiscal year.

Revvity declared that its Board of Directors has initiated a stock buyback plan on Monday, November 4th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 6.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Revvity Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 18th will be issued a $0.07 dividend. The ex-dividend date is Thursday, April 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.24%. Revvity’s dividend payout ratio is presently 12.67%.

Insider Transactions at Revvity

In other news, insider Joel S. Goldberg sold 15,170 shares of Revvity stock in a transaction that occurred 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 transaction, the insider now owns 33,400 shares of the company’s stock, valued at $4,232,782. The trade was a 31.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Tajinder S. Vohra sold 5,492 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total transaction of $641,520.52. Following the sale, 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 disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RVTY. KeyCorp increased their price objective on shares of Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Bank of America upgraded Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price target on the stock in a report on Friday, December 13th. Sanford C. Bernstein cut Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price objective for the company. in a report on Friday, January 10th. Barclays increased their target price on Revvity from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, TD Cowen lifted their target price on Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $136.25.

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.