State of Alaska Department of Revenue Makes New Investment in Revvity, Inc. (NYSE:RVTY)

State of Alaska Department of Revenue purchased a new stake in shares of Revvity, Inc. (NYSE:RVTY - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 13,327 shares of the company's stock, valued at approximately $1,456,000.

Other institutional investors have also made changes to their positions in the company. Gladius Capital Management LP lifted its holdings in Revvity by 84.1% in the 3rd quarter. Gladius Capital Management LP now owns 232 shares of the company's stock worth $26,000 after purchasing an additional 106 shares during the last quarter. JTC Employer Solutions Trustee Ltd acquired a new stake in Revvity in the 4th quarter worth approximately $33,000. Headinvest LLC acquired a new stake in Revvity in the 3rd quarter worth approximately $57,000. DB Wealth Management Group LLC acquired a new stake in Revvity in the 4th quarter worth approximately $79,000. Finally, Blue Trust Inc. bought a new position in Revvity in the 4th quarter worth approximately $90,000. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Revvity Price Performance

RVTY stock traded up $4.15 during trading on Monday, hitting $106.43. The company had a trading volume of 1,471,144 shares, compared to its average volume of 803,917. The company has a fifty day moving average price of $105.20 and a two-hundred day moving average price of $101.91. The company has a current ratio of 2.07, a quick ratio of 1.77 and a debt-to-equity ratio of 0.40. The company has a market cap of $13.15 billion, a P/E ratio of 19.43, a P/E/G ratio of 2.66 and a beta of 1.09. Revvity, Inc. has a fifty-two week low of $79.50 and a fifty-two week high of $139.04.

Revvity (NYSE:RVTY - Get Free Report) last announced its quarterly earnings results on Thursday, February 1st. The company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.15 by $0.10. The business had revenue of $695.90 million for the quarter. Revvity had a return on equity of 7.41% and a net margin of 25.20%. Equities research analysts expect that Revvity, Inc. will post 4.65 earnings per share for the current fiscal year.

Revvity Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 19th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date of this dividend is Thursday, April 18th. Revvity's dividend payout ratio is currently 5.09%.

Insiders Place Their Bets

In other Revvity news, insider Prahlad R. Singh sold 21,217 shares of the business's stock in a transaction on Monday, February 5th. The stock was sold at an average price of $104.28, for a total value of $2,212,508.76. Following the transaction, the insider now owns 92,801 shares of the company's stock, valued at $9,677,288.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.60% of the company's stock.

Analysts Set New Price Targets

RVTY has been the topic of several recent analyst reports. KeyCorp lifted their price target on Revvity from $110.00 to $126.00 and gave the stock an "overweight" rating in a research report on Friday, February 2nd. Barclays lifted their price target on Revvity from $92.00 to $105.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 25th. Wells Fargo & Company began coverage on Revvity in a research report on Tuesday, December 19th. They set an "equal weight" rating and a $95.00 price objective on the stock. Wolfe Research began coverage on Revvity in a research report on Wednesday, December 13th. They set a "peer perform" rating on the stock. Finally, Evercore ISI upgraded Revvity from an "in-line" rating to an "outperform" rating and boosted their price objective for the company from $88.00 to $125.00 in a research report on Thursday, January 4th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $118.91.

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.