Chevy Chase Trust Holdings LLC Purchases New Holdings in Revvity, Inc. (NYSE:RVTY)

Chevy Chase Trust Holdings LLC purchased 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 & Exchange Commission. The firm purchased 69,436 shares of the company’s stock, valued at approximately $7,590,000. Chevy Chase Trust Holdings LLC owned approximately 0.06% of Revvity at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Asset Management One Co. Ltd. acquired a new stake in shares of Revvity in the fourth quarter valued at approximately $5,731,000. Arizona State Retirement System acquired a new stake in Revvity during the 4th quarter worth $3,729,000. Hartford Investment Management Co. acquired a new stake in Revvity during the 4th quarter worth $909,000. TIAA Trust National Association acquired a new stake in Revvity during the 4th quarter worth $215,000. Finally, State of Michigan Retirement System acquired a new stake in Revvity during the 4th quarter worth $3,688,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

Insider Transactions at Revvity

In related news, insider Prahlad R. Singh sold 21,217 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $104.28, for a total value of $2,212,508.76. Following the transaction, the insider now owns 92,801 shares in the company, valued at approximately $9,677,288.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Stifel Nicolaus lifted their target price on shares of Revvity from $95.00 to $110.00 and gave the stock a “hold” rating in a report on Friday, February 2nd. Raymond James lifted their price target on shares of Revvity from $106.00 to $127.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Wells Fargo & Company began coverage on shares of Revvity in a research report on Tuesday, December 19th. They set an “equal weight” rating and a $95.00 price target on the stock. Barclays lifted their price target on shares of Revvity from $92.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 25th. Finally, UBS Group cut shares of Revvity from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $105.00 to $125.00 in a research report on Tuesday, January 16th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Revvity has a consensus rating of “Moderate Buy” and an average target price of $118.91.

Revvity Trading Up 4.1 %

Shares of NYSE:RVTY opened at $106.43 on Tuesday. The company’s 50-day moving average price is $105.20 and its two-hundred day moving average price is $101.91. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.07 and a quick ratio of 1.77. Revvity, Inc. has a one year low of $79.50 and a one year high of $139.04. The stock has a market capitalization of $13.15 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 2.66 and a beta of 1.09.

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

Revvity Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 19th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.28 annualized dividend and a dividend yield of 0.26%. Revvity’s dividend payout ratio is presently 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.