Retirement Systems of Alabama Makes New $2.97 Million Investment in Revvity, Inc. (NYSE:RVTY)

Retirement Systems of Alabama acquired a new stake in Revvity, Inc. (NYSE:RVTY) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 27,198 shares of the company’s stock, valued at approximately $2,973,000.

Several other institutional investors and hedge funds have also modified their holdings of RVTY. Parkside Financial Bank & Trust acquired a new position in shares of Revvity during the 4th quarter valued at about $25,000. Gladius Capital Management LP raised its stake in Revvity by 84.1% during the third 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 period. CENTRAL TRUST Co acquired a new position in shares of Revvity in the 4th quarter valued at $27,000. ORG Partners LLC purchased a new stake in shares of Revvity during the 4th quarter valued at $32,000. Finally, JTC Employer Solutions Trustee Ltd acquired a new stake in shares of Revvity during the 4th quarter worth $33,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. TD Cowen upped their price target on Revvity from $123.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Robert W. Baird increased their target price on shares of Revvity from $126.00 to $127.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 30th. Barclays lifted their price target on shares of Revvity from $92.00 to $105.00 and gave the company an “equal weight” rating in a research report on Thursday, January 25th. UBS Group downgraded shares of Revvity from a “buy” rating to a “neutral” rating and raised their target price for the company from $105.00 to $125.00 in a research note on Tuesday, January 16th. Finally, Stifel Nicolaus upped their price target on shares of Revvity from $95.00 to $110.00 and gave the stock a “hold” rating in a research report on Friday, February 2nd. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Revvity presently has an average rating of “Moderate Buy” and a consensus price target of $118.17.

Revvity Stock Up 0.3 %

Shares of Revvity stock opened at $103.17 on Wednesday. Revvity, Inc. has a 1-year low of $79.50 and a 1-year high of $131.96. The company has a market capitalization of $12.74 billion, a PE ratio of 85.27, a P/E/G ratio of 2.62 and a beta of 1.09. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.23 and a quick ratio of 1.92. The business has a 50-day moving average of $104.48 and a 200-day moving average of $101.27.

Revvity (NYSE:RVTY) last issued its quarterly earnings data on Monday, April 29th. The company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. Revvity had a return on equity of 7.37% and a net margin of 5.49%. The firm had revenue of $649.90 million during the quarter, compared to analyst estimates of $646.83 million. During the same quarter last year, the firm earned $1.01 EPS. Revvity’s quarterly revenue was down 3.7% on a year-over-year basis. As a group, equities analysts forecast that Revvity, Inc. will post 4.66 EPS for the current fiscal year.

Revvity Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 19th will be issued a $0.07 dividend. The ex-dividend date is Friday, July 19th. This represents a $0.28 annualized dividend and a yield of 0.27%. Revvity’s dividend payout ratio is presently 23.14%.

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.