Revvity Inc. $RVTY Shares Sold by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D reduced its holdings in Revvity Inc. by 12.2%, now owning 38,656 shares valued at approximately $4.09 million.
• Revvity recently reported earnings of $1.18 per share, surpassing estimates and achieving a quarterly revenue of $720.28 million.
• The company declared a quarterly dividend of $0.07 per share, with an ex-dividend date set for October 17th and a dividend yield of 0.3%.

State of New Jersey Common Pension Fund D reduced its position in shares of Revvity Inc. (NYSE:RVTY - Free Report) by 12.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,656 shares of the company's stock after selling 5,385 shares during the period. State of New Jersey Common Pension Fund D's holdings in Revvity were worth $4,090,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Optiver Holding B.V. purchased a new position in Revvity during the fourth quarter worth about $33,000. Quarry LP raised its holdings in Revvity by 45.7% during the fourth quarter. Quarry LP now owns 303 shares of the company's stock worth $34,000 after purchasing an additional 95 shares in the last quarter. Vermillion Wealth Management Inc. purchased a new position in Revvity during the fourth quarter worth about $41,000. New Age Alpha Advisors LLC purchased a new position in Revvity during the first quarter worth about $44,000. Finally, Continuum Advisory LLC raised its holdings in Revvity by 39.3% during the fourth quarter. Continuum Advisory LLC now owns 471 shares of the company's stock worth $53,000 after purchasing an additional 133 shares in the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RVTY has been the subject of several analyst reports. Bank of America cut their price target on shares of Revvity from $116.00 to $110.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Wall Street Zen lowered shares of Revvity from a "buy" rating to a "hold" rating in a research report on Sunday, August 3rd. The Goldman Sachs Group lowered their target price on shares of Revvity from $140.00 to $125.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. UBS Group upgraded shares of Revvity from a "neutral" rating to a "buy" rating and lowered their target price for the stock from $145.00 to $115.00 in a research report on Thursday, May 1st. Finally, Evercore ISI lowered their target price on shares of Revvity from $116.00 to $115.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 8th. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $120.07.

Revvity Price Performance

Shares of RVTY stock traded up $4.3690 during trading hours on Friday, hitting $94.0390. The company's stock had a trading volume of 735,939 shares, compared to its average volume of 1,453,965. The business has a fifty day moving average of $94.57 and a 200-day moving average of $99.05. The stock has a market cap of $10.92 billion, a price-to-earnings ratio of 39.85, a P/E/G ratio of 2.41 and a beta of 0.91. Revvity Inc. has a twelve month low of $85.12 and a twelve month high of $129.50. The company has a current ratio of 3.33, a quick ratio of 2.75 and a debt-to-equity ratio of 0.43.

Revvity (NYSE:RVTY - Get Free Report) last announced its earnings results on Monday, July 28th. The company reported $1.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.14 by $0.04. Revvity had a net margin of 10.19% and a return on equity of 7.66%. The firm had revenue of $720.28 million for the quarter, compared to analyst estimates of $711.26 million. During the same quarter last year, the business earned $1.22 earnings per share. Revvity's revenue was up 4.1% compared to the same quarter last year. Revvity has set its FY 2025 guidance at 4.850-4.950 EPS. As a group, equities research analysts anticipate that Revvity Inc. will post 4.94 EPS for the current year.

Revvity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 7th. Investors of record on Friday, October 17th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, October 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.3%. Revvity's dividend payout ratio (DPR) is 11.86%.

Revvity 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.