Revvity, Inc. (NYSE:RVTY) Stock Holdings Lessened by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System lessened its holdings in shares of Revvity, Inc. (NYSE:RVTY) by 2.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 131,330 shares of the company’s stock after selling 3,466 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.11% of Revvity worth $13,790,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Capital Research Global Investors bought a new position in Revvity during the fourth quarter valued at approximately $838,080,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Revvity in the fourth quarter valued at approximately $188,368,000. Norges Bank bought a new position in shares of Revvity in the fourth quarter valued at approximately $129,483,000. Northern Trust Corp acquired a new stake in shares of Revvity in the fourth quarter worth $127,401,000. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Revvity in the fourth quarter worth $112,037,000. Institutional investors own 86.65% of the company’s stock.

Insider Transactions at Revvity

In other news, insider Joel S. Goldberg sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $110.46, for a total transaction of $441,840.00. Following the sale, the insider now owns 36,900 shares in the company, valued at approximately $4,075,974. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.60% of the company’s stock.

Revvity Trading Down 1.6 %

Shares of Revvity stock traded down $1.75 during trading on Friday, hitting $108.05. 217,332 shares of the company were exchanged, compared to its average volume of 863,034. The firm has a market capitalization of $13.33 billion, a P/E ratio of 90.80, a price-to-earnings-growth ratio of 2.95 and a beta of 1.05. Revvity, Inc. has a 1-year low of $79.50 and a 1-year high of $131.96. The firm’s fifty day moving average price is $108.30 and its 200 day moving average price is $106.40. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.23 and a quick ratio of 1.92.

Revvity (NYSE:RVTY) last posted its earnings results on Monday, April 29th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.04. Revvity had a return on equity of 7.37% and a net margin of 5.49%. The company had revenue of $649.90 million during the quarter, compared to analyst estimates of $646.83 million. During the same period in the previous year, the company earned $1.01 EPS. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. As a group, sell-side analysts expect that Revvity, Inc. will post 4.65 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 19th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date of this dividend is Friday, July 19th. Revvity’s dividend payout ratio (DPR) is currently 23.14%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RVTY. Robert W. Baird raised their price objective on shares of Revvity from $126.00 to $127.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 30th. Jefferies Financial Group initiated coverage on shares of Revvity in a research note on Monday, June 3rd. They set a “hold” rating and a $115.00 price target on the stock. SVB Leerink initiated coverage on shares of Revvity in a research note on Monday, July 8th. They set an “outperform” rating and a $125.00 price target on the stock. Leerink Partnrs upgraded shares of Revvity to a “strong-buy” rating in a research note on Monday, July 8th. Finally, TD Cowen lifted their price target on shares of Revvity from $123.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $119.14.

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.