Louisiana State Employees Retirement System Sells 400 Shares of Revvity, Inc. (NYSE:RVTY)

Louisiana State Employees Retirement System decreased its holdings in shares of Revvity, Inc. (NYSE:RVTY) by 5.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,500 shares of the company’s stock after selling 400 shares during the period. Louisiana State Employees Retirement System’s holdings in Revvity were worth $725,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Sanford C. Bernstein cut shares of Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price target on the stock. in a report on Friday, January 10th. TD Cowen increased their price target on shares of Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Bank of America upgraded shares of 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. Raymond James reiterated an “outperform” rating and set a $145.00 price target (up previously from $140.00) on shares of Revvity in a report on Monday, February 3rd. Finally, KeyCorp increased their price target on shares of Revvity from $132.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Four research 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $136.25.

Insider Transactions at Revvity

In other news, insider Joel S. Goldberg sold 15,170 shares of the firm’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $126.73, for a total transaction of $1,922,494.10. Following the sale, the insider now directly owns 33,400 shares in the company, valued at $4,232,782. This trade represents a 31.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Tajinder S. Vohra sold 5,492 shares of the firm’s stock in a transaction 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 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 disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.

Revvity Trading Down 0.6 %

Shares of RVTY stock opened at $111.57 on Wednesday. The firm’s 50 day moving average is $116.99 and its 200 day moving average is $118.81. The stock has a market capitalization of $13.58 billion, a P/E ratio of 50.48, a P/E/G ratio of 3.97 and a beta of 1.03. Revvity, Inc. has a 12-month low of $97.32 and a 12-month high of $129.50. The company has a current ratio of 3.60, a quick ratio of 3.03 and a debt-to-equity ratio of 0.41.

Revvity (NYSE:RVTY) last issued 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 quarter in the previous year, the firm posted $1.25 EPS. Research analysts expect that Revvity, Inc. will post 4.94 earnings per share for the current year.

Revvity Dividend Announcement

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

Revvity announced that its Board of Directors has approved a stock buyback plan on Monday, November 4th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 6.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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.