Louisiana State Employees Retirement System Sells 200 Shares of Revvity, Inc. (NYSE:RVTY)

Louisiana State Employees Retirement System lowered its holdings in shares of Revvity, Inc. (NYSE:RVTY) by 2.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,000 shares of the company’s stock after selling 200 shares during the period. Louisiana State Employees Retirement System’s holdings in Revvity were worth $734,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of RVTY. Capital Research Global Investors bought a new stake in Revvity during the fourth quarter worth about $838,080,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Revvity in the fourth quarter worth about $188,368,000. Norges Bank purchased a new position in Revvity in the fourth quarter worth about $129,483,000. Northern Trust Corp purchased a new position in Revvity in the fourth quarter worth about $127,401,000. Finally, Dimensional Fund Advisors LP purchased a new position in Revvity in the fourth quarter worth about $112,037,000. Institutional investors own 86.65% of the company’s stock.

Revvity Stock Up 0.7 %

Shares of RVTY stock opened at $122.13 on Friday. Revvity, Inc. has a 12 month low of $79.50 and a 12 month high of $128.15. The stock has a market cap of $15.07 billion, a P/E ratio of 100.93, a P/E/G ratio of 2.97 and a beta of 1.05. The company has a current ratio of 2.27, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. The company has a 50 day simple moving average of $113.97 and a two-hundred day simple moving average of $108.75.

Revvity (NYSE:RVTY) last announced its 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. The business had revenue of $691.70 million during the quarter, compared to analysts’ expectations of $690.33 million. Revvity had a net margin of 6.26% and a return on equity of 7.34%. The firm’s revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.21 earnings per share. On average, research analysts expect that Revvity, Inc. will post 4.75 earnings per share for the current year.

Revvity Dividend Announcement

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

Insiders Place Their Bets

In other Revvity 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 completion of 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 is accessible through the SEC website. In related news, insider Joel S. Goldberg sold 4,000 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $110.46, for a total transaction of $441,840.00. Following the completion of the transaction, the insider now owns 36,900 shares in the company, valued at $4,075,974. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Joel S. Goldberg sold 3,500 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $117.86, for a total transaction of $412,510.00. Following the transaction, the insider now owns 33,400 shares of the company’s stock, valued at approximately $3,936,524. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RVTY. TD Cowen lifted their target price on shares of Revvity from $130.00 to $141.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. lifted their target price on shares of Revvity from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Jefferies Financial Group lifted their target price on shares of Revvity from $115.00 to $125.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Leerink Partners began coverage on shares of Revvity in a report on Monday, July 8th. They set an “outperform” rating and a $125.00 price objective for the company. Finally, Bank of America boosted their price objective on shares of Revvity from $118.00 to $127.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $126.00.

About Revvity

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.