Oregon Public Employees Retirement Fund Lowers Holdings in Revvity, Inc. (NYSE:RVTY)

Oregon Public Employees Retirement Fund decreased its holdings in Revvity, Inc. (NYSE:RVTY) by 1.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,413 shares of the company’s stock after selling 190 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Revvity were worth $1,162,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gladius Capital Management LP purchased a new stake in Revvity in the 3rd quarter valued at about $32,000. Continuum Advisory LLC grew its holdings in shares of Revvity by 2,972.7% during the 3rd quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock worth $43,000 after purchasing an additional 327 shares during the period. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Revvity by 55.9% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock worth $43,000 after purchasing an additional 138 shares during the period. Avior Wealth Management LLC grew its holdings in shares of Revvity by 7,980.0% during the 3rd quarter. Avior Wealth Management LLC now owns 404 shares of the company’s stock worth $52,000 after purchasing an additional 399 shares during the period. Finally, Principal Securities Inc. grew its holdings in shares of Revvity by 54.9% during the 4th quarter. Principal Securities Inc. now owns 598 shares of the company’s stock worth $67,000 after purchasing an additional 212 shares during the period. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Insider Buying and Selling at Revvity

In other news, insider Joel S. Goldberg sold 15,170 shares of the business’s stock in a transaction that occurred on 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 approximately $4,232,782. The trade was a 31.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Tajinder S. Vohra sold 5,492 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total value of $641,520.52. Following the completion of the sale, the insider now owns 19,652 shares of the company’s stock, valued at $2,295,550.12. This trade represents a 21.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by corporate insiders.

Revvity Stock Performance

Shares of RVTY opened at $112.28 on Friday. The business’s 50 day moving average is $116.88 and its two-hundred day moving average is $118.47. Revvity, Inc. has a 52-week low of $97.32 and a 52-week high of $129.50. The firm has a market cap of $13.66 billion, a price-to-earnings ratio of 50.81, a PEG ratio of 3.82 and a beta of 1.03. The company has a quick ratio of 3.03, a current ratio of 3.60 and a debt-to-equity ratio of 0.41.

Revvity (NYSE:RVTY) last announced its earnings results on Friday, January 31st. The company reported $1.42 earnings per share (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 last year, the business posted $1.25 EPS. Analysts forecast that Revvity, Inc. will post 4.94 EPS for the current fiscal year.

Revvity announced that its Board of Directors has authorized a share buyback plan on Monday, November 4th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to purchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Revvity Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Sanford C. Bernstein cut Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 target price for the company. in a report on Friday, January 10th. KeyCorp boosted their target price on Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Barclays boosted their target price on Revvity from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. TD Cowen boosted their target price on Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, Raymond James reissued an “outperform” rating and set a $145.00 price target (up from $140.00) on shares of Revvity in a research report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $136.25.

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.