California Public Employees Retirement System Sells 9,991 Shares of Revvity Inc. $RVTY

Key Points

• California Public Employees Retirement System trimmed its Revvity stake by 4.1% in the first quarter, selling 9,991 shares and leaving it with 233,140 shares valued at about $20.4 million.
• Revvity reported better-than-expected quarterly results, with EPS of $1.06 versus estimates of $1.02 and revenue of $711.1 million, up 7% year over year.
• The company declared a quarterly dividend of $0.07 per share, while analysts currently have a consensus Hold rating and an average price target of $108.92.

California Public Employees Retirement System cut its position in Revvity Inc. (NYSE:RVTY - Free Report) by 4.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 233,140 shares of the company's stock after selling 9,991 shares during the period. California Public Employees Retirement System owned about 0.21% of Revvity worth $20,425,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Bessemer Group Inc. increased its position in shares of Revvity by 0.7% in the 1st quarter. Bessemer Group Inc. now owns 40,622 shares of the company's stock valued at $3,559,000 after buying an additional 271 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Revvity by 29.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,259,286 shares of the company's stock valued at $198,636,000 after acquiring an additional 507,674 shares during the period. Wealthfront Advisers LLC increased its holdings in shares of Revvity by 19.7% in the first quarter. Wealthfront Advisers LLC now owns 4,479 shares of the company's stock worth $392,000 after acquiring an additional 737 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Revvity by 0.9% in the first quarter. Principal Financial Group Inc. now owns 126,346 shares of the company's stock worth $11,069,000 after acquiring an additional 1,139 shares in the last quarter. Finally, Chicago Partners Investment Group LLC acquired a new stake in shares of Revvity during the first quarter worth about $231,000. 86.65% of the stock is owned by institutional investors.

Revvity Stock Performance

Shares of RVTY opened at $110.78 on Thursday. The stock has a market capitalization of $12.36 billion, a price-to-earnings ratio of 53.01, a PEG ratio of 2.17 and a beta of 1.09. Revvity Inc. has a 12 month low of $81.22 and a 12 month high of $118.30. The firm has a fifty day simple moving average of $104.24 and a 200 day simple moving average of $99.43. The company has a current ratio of 1.72, a quick ratio of 1.41 and a debt-to-equity ratio of 0.37.

Revvity (NYSE:RVTY - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.04. Revvity had a net margin of 8.26% and a return on equity of 8.00%. The firm had revenue of $711.12 million for the quarter, compared to analyst estimates of $704.07 million. During the same period in the previous year, the business earned $1.01 EPS. The company's revenue was up 7.0% compared to the same quarter last year. Revvity has set its FY 2026 guidance at 5.200-5.300 EPS. Research analysts forecast that Revvity Inc. will post 5.25 EPS for the current fiscal year.

Revvity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 17th will be given a $0.07 dividend. The ex-dividend date of this dividend is Friday, July 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.3%. Revvity's payout ratio is currently 13.40%.

Analyst Ratings Changes

RVTY has been the topic of several recent analyst reports. Stifel Nicolaus cut their price objective on Revvity from $110.00 to $100.00 and set a "hold" rating on the stock in a report on Wednesday, May 6th. Barclays lifted their price target on shares of Revvity from $95.00 to $105.00 and gave the company an "equal weight" rating in a research note on Thursday, May 7th. Robert W. Baird set a $117.00 price objective on shares of Revvity in a research report on Wednesday, May 6th. TD Cowen restated a "buy" rating on shares of Revvity in a report on Wednesday, July 15th. Finally, Sanford C. Bernstein began coverage on shares of Revvity in a research report on Friday, June 26th. They issued a "market perform" rating and a $115.00 price objective on the stock. Four investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $108.92.

Revvity Company Profile

Revvity, Inc is a global provider of technology-enabled solutions for the life sciences, diagnostics and applied markets. The company develops and supplies a range of products and services, including reagents and consumables, laboratory instruments, workflow automation, software analytics and technical support. Its portfolio supports applications in drug discovery, genomics, cell biology research, environmental and food safety testing, industrial quality control and clinical diagnostics.

Tracing its heritage to Perkin-Elmer, founded in 1937, Revvity began trading on the New York Stock Exchange under the ticker symbol RVTY in January 2024 following a corporate rebranding.

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