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

California State Teachers Retirement System cut its holdings in shares of Revvity, Inc. (NYSE:RVTY - Free Report) by 3.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 203,756 shares of the company's stock after selling 6,777 shares during the quarter. California State Teachers Retirement System owned approximately 0.17% of Revvity worth $22,741,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Nomura Holdings Inc. acquired a new position in Revvity in the fourth quarter worth approximately $447,000. Victory Capital Management Inc. raised its stake in shares of Revvity by 17.4% in the fourth quarter. Victory Capital Management Inc. now owns 70,250 shares of the company's stock valued at $7,841,000 after purchasing an additional 10,390 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Revvity by 41.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,072 shares of the company's stock worth $1,352,000 after purchasing an additional 3,542 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Revvity by 87.0% in the fourth 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. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Revvity by 2.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 306,537 shares of the company's stock worth $34,213,000 after purchasing an additional 6,814 shares in the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on RVTY shares. KeyCorp raised their price target on shares of Revvity from $132.00 to $145.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. UBS Group upgraded Revvity from a "neutral" rating to a "buy" rating and decreased their price objective for the company from $145.00 to $115.00 in a research report on Thursday, May 1st. Wells Fargo & Company dropped their target price on Revvity from $130.00 to $102.00 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. Barclays cut their price target on Revvity from $140.00 to $110.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Finally, Robert W. Baird dropped their price objective on Revvity from $127.00 to $125.00 and set an "outperform" rating for the company in a report on Tuesday, April 29th. Five research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Revvity currently has an average rating of "Moderate Buy" and an average target price of $125.64.

Revvity Trading Down 1.2%

NYSE:RVTY traded down $1.10 during trading hours on Monday, hitting $89.32. The stock had a trading volume of 412,350 shares, compared to its average volume of 950,751. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.03 and a current ratio of 3.60. The company has a market cap of $10.53 billion, a price-to-earnings ratio of 40.40, a P/E/G ratio of 3.82 and a beta of 1.02. The business's 50 day moving average is $95.02 and its 200-day moving average is $108.10. Revvity, Inc. has a one year low of $88.01 and a one year high of $129.50.

Revvity (NYSE:RVTY - Get Free Report) last released its earnings results 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 for the quarter, compared to analyst estimates of $662.30 million. Revvity had a return on equity of 7.68% and a net margin of 9.81%. Revvity's revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.98 earnings per share. Sell-side analysts anticipate that Revvity, Inc. will post 4.94 EPS for the current fiscal year.

Revvity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Investors of record on Friday, July 18th will be paid a $0.07 dividend. The ex-dividend date is Friday, July 18th. This represents a $0.28 annualized dividend and a dividend yield of 0.31%. Revvity's dividend payout ratio is presently 11.91%.

Revvity Company Profile

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.