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

Chevy Chase Trust Holdings LLC bought a new position in Revvity, Inc. (NYSE:RVTY - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 69,436 shares of the company's stock, valued at approximately $7,590,000. Chevy Chase Trust Holdings LLC owned about 0.06% of Revvity at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Gladius Capital Management LP increased its position in shares of 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 in the last quarter. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of Revvity in the fourth quarter valued at about $33,000. Headinvest LLC acquired a new stake in shares of Revvity in the third quarter valued at about $57,000. DB Wealth Management Group LLC purchased a new position in shares of Revvity in the fourth quarter worth about $79,000. Finally, Blue Trust Inc. acquired a new position in Revvity during the fourth quarter worth about $90,000. Institutional investors and hedge funds own 86.65% of the company's stock.

Revvity Trading Up 4.1 %

Shares of RVTY traded up $4.31 during midday trading on Tuesday, hitting $110.72. 1,756,701 shares of the stock were exchanged, compared to its average volume of 817,943. Revvity, Inc. has a 52-week low of $79.50 and a 52-week high of $139.04. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.77 and a current ratio of 2.07. The stock has a fifty day simple moving average of $105.12 and a 200 day simple moving average of $101.90. The firm has a market cap of $13.68 billion, a P/E ratio of 19.80, a P/E/G ratio of 2.66 and a beta of 1.09.

Revvity (NYSE:RVTY - Get Free Report) last announced its earnings results on Thursday, February 1st. The company reported $1.25 EPS for the quarter, beating analysts' consensus estimates of $1.15 by $0.10. The company had revenue of $695.90 million during the quarter. Revvity had a return on equity of 7.41% and a net margin of 25.20%. On average, research analysts anticipate that Revvity, Inc. will post 4.65 EPS for the current fiscal year.

Revvity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 19th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, April 18th. This represents a $0.28 dividend on an annualized basis and a yield of 0.25%. Revvity's dividend payout ratio (DPR) is presently 5.09%.

Insider Buying and Selling at Revvity

In other news, insider Prahlad R. Singh sold 21,217 shares of the 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 directly owns 92,801 shares in the company, valued at $9,677,288.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RVTY. UBS Group lowered shares of Revvity from a "buy" rating to a "neutral" rating and raised their target price for the stock from $105.00 to $125.00 in a research note on Tuesday, January 16th. Wolfe Research began coverage on Revvity in a report on Wednesday, December 13th. They issued a "peer perform" rating for the company. KeyCorp lifted their price target on Revvity from $110.00 to $126.00 and gave the stock an "overweight" rating in a report on Friday, February 2nd. Stifel Nicolaus boosted their price target on shares of Revvity from $95.00 to $110.00 and gave the company a "hold" rating in a research report on Friday, February 2nd. Finally, Evercore ISI upgraded shares of Revvity from an "in-line" rating to an "outperform" rating and raised their price objective for the stock from $88.00 to $125.00 in a research report on Thursday, January 4th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $118.91.

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.