Illinois Municipal Retirement Fund Makes New $1.24 Million Investment in Revvity, Inc. (NYSE:RVTY)

Illinois Municipal Retirement Fund acquired a new position in shares of Revvity, Inc. (NYSE:RVTY - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 11,360 shares of the company's stock, valued at approximately $1,242,000.

Several other large investors have also modified their holdings of the company. Gladius Capital Management LP boosted its holdings in Revvity by 84.1% in the 3rd quarter. Gladius Capital Management LP now owns 232 shares of the company's stock valued at $26,000 after purchasing an additional 106 shares during the period. CENTRAL TRUST Co bought a new stake in Revvity in the 4th quarter valued at $27,000. ORG Partners LLC bought a new stake in Revvity in the 4th quarter valued at $32,000. JTC Employer Solutions Trustee Ltd bought a new stake in Revvity in the 4th quarter valued at $33,000. Finally, Desjardins Global Asset Management Inc. bought a new stake in Revvity in the 4th quarter valued at $37,000. 86.65% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RVTY. Raymond James increased their price target on shares of Revvity from $106.00 to $127.00 and gave the company an "outperform" rating in a report on Friday, February 2nd. UBS Group downgraded shares of Revvity from a "buy" rating to a "neutral" rating and increased their price target for the company from $105.00 to $125.00 in a report on Tuesday, January 16th. Evercore ISI upgraded shares of Revvity from an "in-line" rating to an "outperform" rating and increased their price objective for the company from $88.00 to $125.00 in a research note on Thursday, January 4th. KeyCorp increased their price objective on shares of Revvity from $110.00 to $126.00 and gave the company an "overweight" rating in a research note on Friday, February 2nd. Finally, Stifel Nicolaus increased their price objective on shares of Revvity from $95.00 to $110.00 and gave the company a "hold" rating in a research note on Friday, February 2nd. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $118.91.

Revvity Price Performance

Shares of Revvity stock traded down $0.58 during mid-day trading on Friday, reaching $101.51. 827,386 shares of the stock were exchanged, compared to its average volume of 939,494. The company has a market cap of $12.54 billion, a price-to-earnings ratio of 18.46, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09. 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 firm has a 50-day simple moving average of $104.66 and a 200 day simple moving average of $101.34. Revvity, Inc. has a fifty-two week low of $79.50 and a fifty-two week high of $132.54.

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

Revvity Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 19th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend is Friday, July 19th. Revvity's payout ratio is presently 5.09%.

Insider Buying and Selling at Revvity

In other news, insider Prahlad R. Singh sold 21,217 shares of the firm's stock in a transaction dated Monday, February 5th. The shares were 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 approximately $9,677,288.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.60% of the company's stock.

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.