Maryland State Retirement & Pension System Cuts Stake in Revvity, Inc. (NYSE:RVTY)

Maryland State Retirement & Pension System cut its holdings in Revvity, Inc. (NYSE:RVTY) by 6.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,568 shares of the company’s stock after selling 460 shares during the period. Maryland State Retirement & Pension System’s holdings in Revvity were worth $733,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Empowered Funds LLC bought a new position in shares of Revvity during the 3rd quarter valued at about $227,000. Natixis Advisors LLC boosted its stake in Revvity by 17.9% during the third quarter. Natixis Advisors LLC now owns 12,499 shares of the company’s stock valued at $1,597,000 after buying an additional 1,901 shares during the last quarter. Quest Partners LLC bought a new position in Revvity during the third quarter valued at approximately $126,000. Pathstone Holdings LLC grew its holdings in Revvity by 70.0% during the 3rd quarter. Pathstone Holdings LLC now owns 21,358 shares of the company’s stock valued at $2,728,000 after buying an additional 8,791 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Revvity in the 3rd quarter worth approximately $393,000. 86.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Tajinder S. Vohra sold 5,492 shares of the company’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 approximately $2,295,550.12. This represents a 21.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joel S. Goldberg sold 15,170 shares of Revvity stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $126.73, for a total transaction of $1,922,494.10. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

RVTY has been the subject of a number of recent research reports. Bank of America raised shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 target price for the company in a report on Friday, December 13th. Barclays lifted their price objective on shares of Revvity from $135.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Sanford C. Bernstein cut shares of Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 target price on the stock. in a research report on Friday, January 10th. KeyCorp lifted their price target on Revvity from $132.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Raymond James restated an “outperform” rating and set a $145.00 price objective (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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $136.25.

Revvity Stock Performance

RVTY stock opened at $108.60 on Tuesday. Revvity, Inc. has a twelve month low of $97.32 and a twelve month high of $129.50. The firm has a market cap of $13.05 billion, a price-to-earnings ratio of 49.14, a PEG ratio of 3.82 and a beta of 1.06. The business’s fifty day simple moving average is $116.15 and its two-hundred day simple moving average is $117.48. 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 posted its quarterly earnings results on Friday, January 31st. The company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.37 by $0.05. Revvity had a net margin of 9.81% and a return on equity of 7.68%. During the same period in the prior year, the firm posted $1.25 EPS. Analysts predict that Revvity, Inc. will post 4.94 earnings per share for the current year.

Revvity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 18th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.26%. Revvity’s payout ratio is 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.