New York State Common Retirement Fund Raises Stock Position in Revvity Inc. (NYSE:RVTY)

New York State Common Retirement Fund increased its holdings in shares of Revvity Inc. (NYSE:RVTY) by 4.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 72,911 shares of the company’s stock after purchasing an additional 3,300 shares during the period. New York State Common Retirement Fund owned 0.06% of Revvity worth $7,714,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RVTY. Nomura Holdings Inc. acquired a new stake in shares of Revvity during the fourth quarter worth $447,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Revvity by 3.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,139 shares of the company’s stock valued at $544,000 after purchasing an additional 187 shares during the period. Ritholtz Wealth Management acquired a new position in Revvity during the first quarter worth about $210,000. Amalgamated Bank boosted its holdings in Revvity by 1.0% in the 1st quarter. Amalgamated Bank now owns 23,777 shares of the company’s stock valued at $2,516,000 after purchasing an additional 227 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Revvity by 11.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,415 shares of the company’s stock valued at $1,417,000 after acquiring an additional 1,343 shares during the period. 86.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on RVTY shares. Raymond James Financial reaffirmed an “outperform” rating and set a $120.00 target price (down from $145.00) on shares of Revvity in a research note on Tuesday, April 29th. Barclays decreased their price target on shares of Revvity from $140.00 to $110.00 and set an “overweight” rating for the company in a research note on Thursday, April 10th. Wells Fargo & Company decreased their price target on shares of Revvity from $130.00 to $102.00 and set an “equal weight” rating for the company in a research note on Thursday, April 17th. UBS Group upgraded shares of Revvity from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $145.00 to $115.00 in a research report on Thursday, May 1st. Finally, Wall Street Zen downgraded shares of Revvity from a “buy” rating to a “hold” rating in a research report on Friday. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $123.07.

Revvity Trading Down 2.5%

RVTY opened at $93.19 on Friday. The stock has a market capitalization of $10.98 billion, a PE ratio of 39.66, a P/E/G ratio of 2.35 and a beta of 0.98. The firm’s fifty day moving average price is $95.10 and its 200 day moving average price is $103.92. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.58 and a quick ratio of 2.99. Revvity Inc. has a 12-month low of $87.70 and a 12-month high of $129.50.

Revvity (NYSE:RVTY) last released its quarterly earnings results on Monday, April 28th. The company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.96 by $0.05. The business had revenue of $664.76 million during the quarter, compared to analyst estimates of $662.30 million. Revvity had a net margin of 10.35% and a return on equity of 7.73%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.98 earnings per share. As a group, research analysts expect that Revvity Inc. will post 4.94 EPS for the current fiscal year.

Revvity Dividend Announcement

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 issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.30%. The ex-dividend date of this dividend is Friday, July 18th. Revvity’s dividend payout ratio is currently 11.91%.

Revvity Company 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.