Kentucky Retirement Systems Insurance Trust Fund Sells 328 Shares of Revvity, Inc. (NYSE:RVTY)

Kentucky Retirement Systems Insurance Trust Fund trimmed its holdings in shares of Revvity, Inc. (NYSE:RVTY) by 8.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,652 shares of the company’s stock after selling 328 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Revvity were worth $467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Empowered Funds LLC bought a new position in shares of Revvity during the third quarter valued at approximately $227,000. Empirical Finance LLC lifted its holdings in Revvity by 2.0% during the third quarter. Empirical Finance LLC now owns 4,237 shares of the company’s stock worth $541,000 after buying an additional 85 shares during the period. CIBC Asset Management Inc boosted its position in Revvity by 8.2% during the 3rd quarter. CIBC Asset Management Inc now owns 17,993 shares of the company’s stock valued at $2,299,000 after acquiring an additional 1,368 shares in the last quarter. Sivik Global Healthcare LLC purchased a new position in shares of Revvity in the 3rd quarter valued at $5,110,000. Finally, Metis Global Partners LLC raised its position in shares of Revvity by 6.5% in the 3rd quarter. Metis Global Partners LLC now owns 7,825 shares of the company’s stock worth $1,000,000 after acquiring an additional 481 shares in the last quarter. Institutional investors own 86.65% of the company’s stock.

Wall Street Analysts Forecast Growth

RVTY has been the topic of a number of recent research reports. Raymond James raised their price objective on Revvity from $144.00 to $146.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. lifted their price objective on shares of Revvity from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Sanford C. Bernstein reduced their price objective on shares of Revvity from $150.00 to $145.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. Wells Fargo & Company started coverage on shares of Revvity in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 target price for the company. Finally, Barclays upgraded Revvity from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $125.00 to $140.00 in a report on Tuesday, October 15th. Seven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $132.07.

Revvity Stock Down 0.0 %

Shares of RVTY stock opened at $109.47 on Tuesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.97 and a current ratio of 3.56. Revvity, Inc. has a fifty-two week low of $86.30 and a fifty-two week high of $129.50. The firm has a market capitalization of $13.32 billion, a PE ratio of 52.88, a P/E/G ratio of 2.73 and a beta of 1.05. The stock’s 50-day simple moving average is $121.52 and its 200-day simple moving average is $115.44.

Revvity (NYSE:RVTY) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.15. The company had revenue of $684.10 million during the quarter, compared to analyst estimates of $679.66 million. Revvity had a net margin of 9.34% and a return on equity of 7.42%. Revvity’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the firm posted $1.18 EPS. Equities analysts expect that Revvity, Inc. will post 4.85 earnings per share for the current year.

Revvity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.26%. The ex-dividend date of this dividend is Friday, January 17th. Revvity’s payout ratio is 13.53%.

Revvity announced that its Board of Directors has initiated a share buyback program on Monday, November 4th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 6.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other Revvity news, insider Tajinder S. Vohra sold 2,154 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $121.73, for a total value of $262,206.42. Following the sale, the insider now owns 19,652 shares in the company, valued at approximately $2,392,237.96. This represents a 9.88 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.60% of the stock is owned by insiders.

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.