State of Tennessee Department of Treasury Sells 10,413 Shares of Revvity, Inc. (NYSE:RVTY)

State of Tennessee Department of Treasury decreased its stake in shares of Revvity, Inc. (NYSE:RVTY - Free Report) by 28.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 26,211 shares of the company's stock after selling 10,413 shares during the period. State of Tennessee Department of Treasury's holdings in Revvity were worth $2,925,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in Revvity during the fourth quarter worth $127,801,000. Invesco Ltd. raised its position in shares of Revvity by 18.8% during the fourth quarter. Invesco Ltd. now owns 1,740,933 shares of the company's stock valued at $194,306,000 after buying an additional 274,923 shares during the last quarter. Proficio Capital Partners LLC lifted its stake in shares of Revvity by 12,298.3% in the fourth quarter. Proficio Capital Partners LLC now owns 195,769 shares of the company's stock valued at $21,850,000 after buying an additional 194,190 shares during the period. ExodusPoint Capital Management LP acquired a new stake in Revvity during the fourth quarter worth about $20,735,000. Finally, Vanguard Group Inc. increased its stake in Revvity by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 14,290,211 shares of the company's stock valued at $1,594,930,000 after acquiring an additional 156,679 shares during the period. 86.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on RVTY shares. UBS Group raised Revvity from a "neutral" rating to a "buy" rating and decreased their price objective for the stock from $145.00 to $115.00 in a report on Thursday. KeyCorp upped their price objective on Revvity from $132.00 to $145.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Wells Fargo & Company lowered their price target on Revvity from $130.00 to $102.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. Raymond James reiterated an "outperform" rating and set a $120.00 target price (down previously from $145.00) on shares of Revvity in a research report on Tuesday. Finally, Robert W. Baird reduced their target price on Revvity from $127.00 to $125.00 and set an "outperform" rating on the stock in a report on Tuesday. Four equities research 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. According to data from MarketBeat.com, Revvity presently has a consensus rating of "Moderate Buy" and an average price target of $125.64.

Revvity Stock Up 1.2 %

RVTY traded up $1.14 on Friday, hitting $94.04. 944,884 shares of the company were exchanged, compared to its average volume of 931,013. The company has a market cap of $11.30 billion, a PE ratio of 42.55, a PEG ratio of 3.82 and a beta of 1.07. Revvity, Inc. has a 12 month low of $88.53 and a 12 month high of $129.50. The stock's fifty day moving average is $102.80 and its 200-day moving average is $112.07. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.03 and a current ratio of 3.60.

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

Revvity Announces Dividend

The business also recently declared 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 of this dividend is Friday, July 18th. This represents a $0.28 dividend on an annualized basis and a yield of 0.30%. Revvity's dividend payout ratio (DPR) is currently 11.91%.

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.