Kentucky Retirement Systems Has $875,000 Stock Holdings in Revvity Inc. (NYSE:RVTY)

Kentucky Retirement Systems cut its stake in Revvity Inc. (NYSE:RVTY) by 2.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,274 shares of the company’s stock after selling 202 shares during the period. Kentucky Retirement Systems’ holdings in Revvity were worth $875,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Assetmark Inc. increased its stake in shares of Revvity by 3,700.0% in the 4th quarter. Assetmark Inc. now owns 266 shares of the company’s stock valued at $30,000 after purchasing an additional 259 shares during the last quarter. Optiver Holding B.V. acquired a new position in Revvity during the 4th quarter worth about $33,000. Quarry LP lifted its holdings in Revvity by 45.7% during the 4th quarter. Quarry LP now owns 303 shares of the company’s stock worth $34,000 after buying an additional 95 shares during the period. Millstone Evans Group LLC acquired a new position in Revvity during the 4th quarter worth about $38,000. Finally, Vermillion Wealth Management Inc. acquired a new position in shares of Revvity in the 4th quarter valued at about $41,000. 86.65% of the stock is owned by institutional investors and hedge funds.

Revvity Stock Up 1.5%

RVTY stock opened at $96.39 on Wednesday. The stock’s 50 day simple moving average is $93.02 and its 200 day simple moving average is $105.79. Revvity Inc. has a fifty-two week low of $87.70 and a fifty-two week high of $129.50. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.99 and a current ratio of 3.58. The company has a market cap of $11.36 billion, a P/E ratio of 41.02, a price-to-earnings-growth ratio of 2.32 and a beta of 0.97.

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

Revvity Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 8th. Shareholders of record on Friday, July 18th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend is Friday, July 18th. Revvity’s dividend payout ratio is currently 11.91%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RVTY. Wells Fargo & Company dropped their price objective on Revvity from $130.00 to $102.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 17th. JPMorgan Chase & Co. dropped their price objective on Revvity from $120.00 to $100.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 29th. The Goldman Sachs Group dropped their price objective on Revvity from $140.00 to $125.00 and set a “buy” rating on the stock in a research note on Tuesday, April 29th. Raymond James Financial reissued an “outperform” rating and issued a $120.00 price objective (down from $145.00) on shares of Revvity in a research note on Tuesday, April 29th. Finally, Wall Street Zen downgraded Revvity from a “buy” rating to a “hold” rating in a research note on Saturday, May 24th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $125.64.

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.