State of Alaska Department of Revenue Sells 480 Shares of Revvity, Inc. (NYSE:RVTY)

State of Alaska Department of Revenue lessened its stake in shares of Revvity, Inc. (NYSE:RVTY) by 3.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 13,877 shares of the company’s stock after selling 480 shares during the period. State of Alaska Department of Revenue’s holdings in Revvity were worth $1,548,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of RVTY. Exchange Traded Concepts LLC increased its position in Revvity by 2.2% during the third quarter. Exchange Traded Concepts LLC now owns 9,088 shares of the company’s stock worth $1,161,000 after buying an additional 193 shares during the last quarter. CX Institutional increased its position in Revvity by 1.1% during the third quarter. CX Institutional now owns 7,984 shares of the company’s stock worth $1,020,000 after buying an additional 86 shares during the last quarter. Creative Planning increased its position in Revvity by 2.3% during the third quarter. Creative Planning now owns 20,308 shares of the company’s stock worth $2,594,000 after buying an additional 451 shares during the last quarter. Vontobel Holding Ltd. acquired a new position in Revvity during the third quarter worth approximately $277,000. Finally, Drake & Associates LLC increased its position in Revvity by 13.2% during the third quarter. Drake & Associates LLC now owns 4,976 shares of the company’s stock worth $636,000 after buying an additional 580 shares during the last quarter. Institutional investors own 86.65% of the company’s stock.

Insiders Place Their Bets

In other news, insider Joel S. Goldberg sold 15,170 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $126.73, for a total value of $1,922,494.10. Following the completion of 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 filing with the SEC, which is available at this link. Also, insider Tajinder S. Vohra sold 5,492 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total transaction of $641,520.52. Following the completion of the transaction, the insider now directly owns 19,652 shares in the company, valued at approximately $2,295,550.12. The trade was a 21.84 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

RVTY has been the topic of a number of recent analyst reports. TD Cowen boosted their price target on Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. KeyCorp upped their target price on Revvity from $132.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Robert W. Baird upped their target price on Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Barclays upped their target price on Revvity from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Bank of America raised Revvity from a “neutral” rating to a “buy” rating and set a $138.00 target price on the stock in a research report on Friday, December 13th. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Revvity currently has an average rating of “Moderate Buy” and a consensus target price of $136.25.

Revvity Stock Down 1.1 %

NYSE RVTY opened at $111.34 on Thursday. Revvity, Inc. has a fifty-two week low of $97.32 and a fifty-two week high of $129.50. The stock has a market capitalization of $13.55 billion, a PE ratio of 50.38, a PEG ratio of 3.97 and a beta of 1.03. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.60 and a quick ratio of 3.03. The business has a fifty day moving average price of $117.38 and a two-hundred day moving average price of $119.20.

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

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

Revvity Announces Dividend

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

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.