Revvity, Inc. (NYSE:RVTY) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lessened its position in shares of Revvity, Inc. (NYSE:RVTY) by 4.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 44,686 shares of the company’s stock after selling 2,226 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Revvity were worth $5,709,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of RVTY. Janus Henderson Group PLC increased its stake in shares of 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 in the last quarter. State Street Corp grew its position in shares of Revvity by 0.3% in the third 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 period. EdgePoint Investment Group Inc. raised its position in shares of Revvity by 34.6% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 2,685,775 shares of the company’s stock worth $343,108,000 after purchasing an additional 690,534 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Revvity by 5.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,149,122 shares of the company’s stock worth $120,506,000 after purchasing an additional 57,656 shares during the last quarter. Finally, Ceredex Value Advisors LLC lifted its stake in Revvity by 2.2% in the 2nd quarter. Ceredex Value Advisors LLC now owns 1,094,938 shares of the company’s stock valued at $114,815,000 after buying an additional 23,318 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

Insiders Place Their Bets

In other news, insider Tajinder S. Vohra sold 2,154 shares of Revvity stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total value of $262,206.42. Following the transaction, the insider now directly owns 19,652 shares of the company’s stock, valued at $2,392,237.96. The trade was a 9.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Leerink Partners increased their target price on Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Bank of America upgraded Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price objective on the stock in a report on Friday. Barclays dropped their target price on shares of Revvity from $140.00 to $135.00 and set an “overweight” rating for the company in a report on Monday, November 25th. Raymond James increased their target price on shares of Revvity from $144.00 to $146.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Finally, Robert W. Baird boosted their price target on shares of Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Five research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Revvity has an average rating of “Moderate Buy” and a consensus target price of $132.47.

Revvity Stock Down 0.0 %

Shares of NYSE:RVTY opened at $115.97 on Friday. The company has a market capitalization of $14.11 billion, a price-to-earnings ratio of 56.02, a PEG ratio of 3.59 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 business has a 50-day moving average price of $118.25 and a 200 day moving average price of $116.34. The company has a current ratio of 3.56, a quick ratio of 2.97 and a debt-to-equity ratio of 0.40.

Revvity (NYSE:RVTY) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.15. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The business had revenue of $684.10 million during the quarter, compared to analysts’ expectations of $679.66 million. During the same period last year, the business earned $1.18 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. Sell-side analysts expect that Revvity, Inc. will post 4.85 EPS for the current year.

Revvity declared that its Board of Directors has approved a share buyback program on Monday, November 4th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to buy up to 6.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Revvity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.24%. The ex-dividend date of this dividend is Friday, January 17th. Revvity’s payout ratio is 13.53%.

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.