Kentucky Retirement Systems Insurance Trust Fund Purchases New Position in Revvity Inc. (NYSE:RVTY)

Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Revvity Inc. (NYSE:RVTY - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,524 shares of the company's stock, valued at approximately $373,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. State of Alaska Department of Revenue increased its holdings in shares of Revvity by 2.8% during the 1st quarter. State of Alaska Department of Revenue now owns 14,262 shares of the company's stock worth $1,508,000 after buying an additional 385 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Revvity by 39.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 10,998 shares of the company's stock worth $1,164,000 after buying an additional 3,107 shares during the last quarter. Ritholtz Wealth Management acquired a new stake in shares of Revvity during the 1st quarter worth approximately $210,000. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Revvity by 3.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 5,139 shares of the company's stock worth $544,000 after buying an additional 187 shares during the last quarter. Finally, Pullen Investment Management LLC acquired a new stake in shares of Revvity during the 1st quarter worth approximately $377,000. Institutional investors and hedge funds own 86.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on RVTY shares. Wells Fargo & Company dropped their target price on shares of Revvity from $130.00 to $102.00 and set an "equal weight" rating for the company in a report on Thursday, April 17th. UBS Group upgraded shares of Revvity from a "neutral" rating to a "buy" rating and dropped their target price for the company from $145.00 to $115.00 in a report on Thursday, May 1st. Bank of America dropped their target price on shares of Revvity from $116.00 to $110.00 and set a "buy" rating for the company in a report on Thursday. Barclays dropped their target price on shares of Revvity from $140.00 to $110.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $120.00 target price (down previously from $145.00) on shares of Revvity in a report on Tuesday, April 29th. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Revvity presently has a consensus rating of "Moderate Buy" and an average price target of $123.64.

Revvity Stock Down 1.0%

Shares of Revvity stock traded down $1.01 during trading on Friday, hitting $97.78. 1,331,016 shares of the stock were exchanged, compared to its average volume of 968,598. The stock has a market cap of $11.53 billion, a price-to-earnings ratio of 41.61, a price-to-earnings-growth ratio of 2.47 and a beta of 0.97. The firm's 50-day moving average price is $93.36 and its 200 day moving average price is $105.29. Revvity Inc. has a 12-month low of $87.70 and a 12-month high of $129.50. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.58 and a quick ratio of 2.99.

Revvity (NYSE:RVTY - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.05. The business had revenue of $664.76 million during the quarter, compared to analysts' expectations of $662.30 million. Revvity had a net margin of 10.35% and a return on equity of 7.73%. The company's revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.98 EPS. As a group, analysts forecast that Revvity Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Friday, July 18th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, July 18th. This represents a $0.28 annualized dividend and a dividend yield of 0.29%. Revvity's dividend payout ratio (DPR) is currently 11.91%.

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.