California State Teachers Retirement System Sells 6,777 Shares of Revvity, Inc. (NYSE:RVTY)

California State Teachers Retirement System cut its position in Revvity, Inc. (NYSE:RVTY - Free Report) by 3.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 203,756 shares of the company's stock after selling 6,777 shares during the quarter. California State Teachers Retirement System owned about 0.17% of Revvity worth $22,741,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Janney Montgomery Scott LLC increased its holdings in Revvity by 87.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 7,891 shares of the company's stock worth $881,000 after acquiring an additional 3,672 shares during the last quarter. Fifth Third Bancorp boosted its stake in Revvity by 9.6% in the 4th quarter. Fifth Third Bancorp now owns 5,362 shares of the company's stock worth $598,000 after purchasing an additional 469 shares in the last quarter. KBC Group NV grew its holdings in shares of Revvity by 2.6% in the fourth quarter. KBC Group NV now owns 34,522 shares of the company's stock worth $3,853,000 after acquiring an additional 879 shares during the period. Forsta AP Fonden lifted its position in Revvity by 1.1% during the fourth quarter. Forsta AP Fonden now owns 27,300 shares of the company's stock valued at $3,047,000 after purchasing an additional 300 shares in the last quarter. Finally, Caprock Group LLC purchased a new position in shares of Revvity in the fourth quarter valued at about $229,000. Institutional investors and hedge funds own 86.65% of the company's stock.

Revvity Price Performance

Shares of RVTY traded up $1.37 during trading hours on Tuesday, reaching $90.69. The company had a trading volume of 193,459 shares, compared to its average volume of 949,417. The company has a current ratio of 3.60, a quick ratio of 3.03 and a debt-to-equity ratio of 0.41. The firm has a 50 day simple moving average of $94.66 and a 200-day simple moving average of $107.96. Revvity, Inc. has a 12-month low of $87.92 and a 12-month high of $129.50. The company has a market capitalization of $10.69 billion, a price-to-earnings ratio of 41.04, a PEG ratio of 3.82 and a beta of 1.02.

Revvity (NYSE:RVTY - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The company reported $1.01 EPS for the quarter, topping analysts' consensus estimates of $0.96 by $0.05. The firm had revenue of $664.76 million during the quarter, compared to the consensus estimate of $662.30 million. Revvity had a net margin of 9.81% and a return on equity of 7.68%. The firm's revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.98 earnings per share. Research analysts expect that Revvity, Inc. will post 4.94 earnings per share for the current year.

Revvity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Shareholders 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 dividend on an annualized basis and a yield of 0.31%. Revvity's payout ratio is currently 11.91%.

Analyst Upgrades and Downgrades

RVTY has been the topic of several research analyst reports. Wells Fargo & Company dropped their price objective on Revvity from $130.00 to $102.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. JPMorgan Chase & Co. reduced their price target on shares of Revvity from $120.00 to $100.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. The Goldman Sachs Group lowered their target price on shares of Revvity from $140.00 to $125.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Robert W. Baird cut their price target on shares of Revvity from $127.00 to $125.00 and set an "outperform" rating for the company in a report on Tuesday, April 29th. Finally, Wall Street Zen downgraded shares of Revvity from a "buy" rating to a "hold" rating in a research note on Saturday, May 24th. Five investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Revvity presently has an average rating of "Moderate Buy" and an average price target of $125.64.

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.