State of New Jersey Common Pension Fund D Takes $7.83 Million Position in Revvity, Inc. (NYSE:RVTY)

State of New Jersey Common Pension Fund D bought a new position in shares of Revvity, Inc. (NYSE:RVTY) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 71,653 shares of the company’s stock, valued at approximately $7,832,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RVTY. Parkside Financial Bank & Trust acquired a new stake in Revvity during the fourth quarter worth about $25,000. Gladius Capital Management LP grew its holdings in Revvity by 84.1% in the third 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 acquired a new stake in Revvity in the fourth quarter valued at approximately $27,000. ORG Partners LLC acquired a new stake in Revvity in the fourth quarter valued at approximately $32,000. Finally, JTC Employer Solutions Trustee Ltd acquired a new stake in Revvity in the fourth quarter valued at approximately $33,000. 86.65% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Revvity news, insider Prahlad R. Singh sold 21,217 shares of Revvity 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 sale, the insider now owns 92,801 shares in the company, valued at $9,677,288.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on RVTY shares. Stifel Nicolaus raised their price objective on Revvity from $95.00 to $110.00 and gave the company a “hold” rating in a report on Friday, February 2nd. Barclays raised their price objective on Revvity from $92.00 to $105.00 and gave the company an “equal weight” rating in a report on Thursday, January 25th. Evercore ISI raised Revvity from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $88.00 to $125.00 in a report on Thursday, January 4th. KeyCorp raised their price objective on Revvity from $110.00 to $126.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Finally, Raymond James raised their price objective on Revvity from $106.00 to $127.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Revvity presently has a consensus rating of “Moderate Buy” and a consensus price target of $118.91.

Revvity Trading Down 0.6 %

Revvity stock traded down $0.58 during trading on Friday, reaching $101.51. 820,246 shares of the company were exchanged, compared to its average volume of 848,738. Revvity, Inc. has a 52-week low of $79.50 and a 52-week high of $132.54. The company has a market capitalization of $12.54 billion, a P/E ratio of 18.56, a PEG ratio of 2.67 and a beta of 1.09. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.07 and a quick ratio of 1.77. The stock’s 50 day simple moving average is $104.68 and its two-hundred day simple moving average is $101.50.

Revvity (NYSE:RVTY) last announced its quarterly earnings data on Thursday, February 1st. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.10. Revvity had a return on equity of 7.41% and a net margin of 25.20%. The firm had revenue of $695.90 million for the quarter. On average, equities research analysts expect that Revvity, Inc. will post 4.65 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 19th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.28%. Revvity’s payout ratio is 5.09%.

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.