Kentucky Retirement Systems Insurance Trust Fund Decreases Stock Position in Revvity, Inc. (NYSE:RVTY)

Kentucky Retirement Systems Insurance Trust Fund cut its position in shares of Revvity, Inc. (NYSE:RVTY) by 7.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,073 shares of the company’s stock after selling 323 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Revvity were worth $428,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Raymond James & Associates acquired a new stake in Revvity during the 4th quarter worth approximately $869,000. Raymond James Financial Services Advisors Inc. bought a new stake in Revvity in the 4th quarter worth approximately $529,000. Pacer Advisors Inc. purchased a new stake in Revvity in the 4th quarter worth $908,000. Assenagon Asset Management S.A. bought a new position in Revvity in the 4th quarter worth about $7,632,000. Finally, Blue Trust Inc. purchased a new position in shares of Revvity in the fourth quarter worth $90,000. 86.65% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Revvity

In related news, insider Joel S. Goldberg sold 4,000 shares of Revvity stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $110.46, for a total transaction of $441,840.00. Following the transaction, the insider now owns 36,900 shares of the company’s stock, valued at $4,075,974. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.60% of the stock is currently owned by corporate insiders.

Revvity Trading Up 6.5 %

Revvity stock traded up $7.46 during trading hours on Monday, reaching $122.61. 842,038 shares of the company’s stock were exchanged, compared to its average volume of 868,811. The firm’s 50 day simple moving average is $108.82 and its 200 day simple moving average is $106.46. The company has a quick ratio of 1.92, a current ratio of 2.23 and a debt-to-equity ratio of 0.40. Revvity, Inc. has a twelve month low of $79.50 and a twelve month high of $127.88. The firm has a market capitalization of $15.13 billion, a PE ratio of 100.92, a PEG ratio of 3.00 and a beta of 1.05.

Revvity (NYSE:RVTY) last issued its quarterly earnings data on Monday, July 29th. The company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.10. Revvity had a net margin of 5.49% and a return on equity of 7.37%. The firm had revenue of $691.70 million for the quarter, compared to the consensus estimate of $690.33 million. During the same quarter in the previous year, the firm earned $1.21 EPS. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. Research analysts predict that Revvity, Inc. will post 4.64 earnings per share for the current year.

Revvity Dividend Announcement

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 given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.23%. The ex-dividend date of this dividend is Friday, October 18th. Revvity’s dividend payout ratio is currently 23.14%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on RVTY shares. Barclays reduced their target price on shares of Revvity from $116.00 to $115.00 and set an “equal weight” rating for the company in a research note on Friday, June 28th. TD Cowen increased their price target on Revvity from $123.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. SVB Leerink began coverage on Revvity in a research report on Monday, July 8th. They issued an “outperform” rating and a $125.00 price objective on the stock. Robert W. Baird raised their price target on Revvity from $126.00 to $127.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 30th. Finally, Jefferies Financial Group assumed coverage on Revvity in a report on Monday, June 3rd. They issued a “hold” rating and a $115.00 price objective for the company. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $119.14.

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.