Texas Permanent School Fund Corp Lowers Position in Revvity, Inc. (NYSE:RVTY)

Texas Permanent School Fund Corp lowered its stake in shares of Revvity, Inc. (NYSE:RVTY) by 20.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,408 shares of the company’s stock after selling 5,101 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Revvity were worth $2,140,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of RVTY. Capital Research Global Investors purchased a new stake in Revvity in the 4th quarter valued at about $838,080,000. Janus Henderson Group PLC increased its position in shares of Revvity by 3.9% during the first quarter. Janus Henderson Group PLC now owns 5,664,528 shares of the company’s stock valued at $594,769,000 after acquiring an additional 210,100 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Revvity by 18.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,126,271 shares of the company’s stock worth $223,258,000 after acquiring an additional 332,632 shares during the period. Norges Bank purchased a new position in Revvity in the fourth quarter worth $129,483,000. Finally, Northern Trust Corp bought a new position in Revvity in the 4th quarter valued at $127,401,000. Institutional investors own 86.65% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on RVTY shares. Citigroup boosted their price target on shares of Revvity from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. Jefferies Financial Group boosted their target price on shares of Revvity from $115.00 to $125.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Leerink Partnrs upgraded shares of Revvity to a “strong-buy” rating in a research note on Monday, July 8th. TD Cowen upped their price objective on Revvity from $130.00 to $141.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Finally, Wells Fargo & Company assumed coverage on Revvity in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 target price for the company. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Revvity currently has an average rating of “Moderate Buy” and an average price target of $126.00.

Insider Activity

In related news, insider Joel S. Goldberg sold 3,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $117.86, for a total value of $412,510.00. Following the transaction, the insider now directly owns 33,400 shares in the company, valued at $3,936,524. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.60% of the company’s stock.

Revvity Price Performance

Shares of NYSE:RVTY opened at $122.71 on Wednesday. The company has a 50 day moving average of $118.10 and a 200 day moving average of $110.26. The company has a current ratio of 2.27, a quick ratio of 1.98 and a debt-to-equity ratio of 0.40. The stock has a market cap of $15.14 billion, a P/E ratio of 101.41, a P/E/G ratio of 2.87 and a beta of 1.05. Revvity, Inc. has a 12 month low of $79.50 and a 12 month high of $128.15.

Revvity (NYSE:RVTY) last released its quarterly earnings results on Monday, July 29th. The company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10. Revvity had a net margin of 6.26% and a return on equity of 7.34%. The firm had revenue of $691.70 million during the quarter, compared to analyst estimates of $690.33 million. During the same period in the previous year, the business earned $1.21 EPS. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. As a group, sell-side analysts forecast that Revvity, Inc. will post 4.75 EPS for the current fiscal year.

Revvity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 18th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.28 annualized dividend and a dividend yield of 0.23%. Revvity’s payout ratio is currently 23.14%.

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.