California State Teachers Retirement System Buys 22,075 Shares of Revvity Inc. $RVTY

California State Teachers Retirement System lifted its stake in Revvity Inc. (NYSE:RVTY - Free Report) by 19.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 133,809 shares of the company's stock after buying an additional 22,075 shares during the quarter. California State Teachers Retirement System owned approximately 0.12% of Revvity worth $11,723,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RVTY. KBC Group NV lifted its position in shares of Revvity by 115.4% in the fourth quarter. KBC Group NV now owns 39,522 shares of the company's stock worth $3,824,000 after buying an additional 21,174 shares in the last quarter. Corient Private Wealth LLC grew its holdings in Revvity by 985.0% during the 4th quarter. Corient Private Wealth LLC now owns 126,568 shares of the company's stock valued at $12,245,000 after buying an additional 114,903 shares in the last quarter. Diamond Hill Capital Management Inc. grew its holdings in Revvity by 6.3% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 426,899 shares of the company's stock valued at $41,302,000 after buying an additional 25,233 shares in the last quarter. Catalyst Funds Management Pty Ltd bought a new stake in Revvity in the 4th quarter worth approximately $1,596,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Revvity by 29.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,259,286 shares of the company's stock worth $198,636,000 after acquiring an additional 507,674 shares in the last quarter. Institutional investors own 86.65% of the company's stock.

Revvity Trading Up 2.4%

RVTY stock opened at $115.21 on Tuesday. The company has a quick ratio of 1.41, a current ratio of 1.72 and a debt-to-equity ratio of 0.37. Revvity Inc. has a twelve month low of $81.22 and a twelve month high of $118.30. The stock has a market capitalization of $12.85 billion, a price-to-earnings ratio of 55.12, a price-to-earnings-growth ratio of 2.21 and a beta of 1.07. The firm's fifty day simple moving average is $106.88 and its two-hundred day simple moving average is $99.92.

Revvity (NYSE:RVTY - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported $1.06 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $704.07 million. During the same quarter last year, the business earned $1.01 EPS. The business's revenue was up 7.0% on a year-over-year basis. As a group, analysts anticipate that Revvity Inc. will post 5.25 earnings per share for the current year.

Revvity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, October 23rd will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.2%. The ex-dividend date is Friday, October 23rd. Revvity's payout ratio is 13.40%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on RVTY. Zacks Research downgraded Revvity from a "hold" rating to a "strong sell" rating in a research report on Monday, July 6th. The Goldman Sachs Group reduced their price target on shares of Revvity from $110.00 to $95.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 14th. Wall Street Zen lowered shares of Revvity from a "buy" rating to a "hold" rating in a research report on Saturday, April 18th. Barclays lifted their price objective on shares of Revvity from $95.00 to $105.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 7th. Finally, Wolfe Research initiated coverage on shares of Revvity in a report on Tuesday, June 2nd. They issued a "peer perform" rating on the stock. Three investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $108.36.

Revvity 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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