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

Chevy Chase Trust Holdings LLC decreased its stake in shares of Revvity, Inc. (NYSE:RVTY) by 0.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 68,859 shares of the company’s stock after selling 577 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Revvity were worth $7,230,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Parkside Financial Bank & Trust purchased a new position in shares of Revvity in the fourth quarter worth $25,000. Gladius Capital Management LP grew its holdings in Revvity by 84.1% during 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 bought a new stake in Revvity during the fourth quarter valued at about $27,000. Benjamin F. Edwards & Company Inc. bought a new position in shares of Revvity in the fourth quarter worth about $27,000. Finally, ORG Partners LLC bought a new position in shares of Revvity in the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Insider Buying and Selling

In related news, insider Joel S. Goldberg sold 4,000 shares of the business’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $110.46, for a total transaction of $441,840.00. Following the transaction, the insider now directly owns 36,900 shares in the company, valued at approximately $4,075,974. 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.

Revvity Stock Up 2.7 %

NYSE RVTY traded up $2.92 during midday trading on Thursday, hitting $109.61. 64,854 shares of the company traded hands, compared to its average volume of 851,084. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.23 and a quick ratio of 1.92. The company has a market cap of $13.52 billion, a PE ratio of 88.19, a price-to-earnings-growth ratio of 2.72 and a beta of 1.05. The company’s 50-day simple moving average is $107.24 and its 200-day simple moving average is $106.33. Revvity, Inc. has a 52 week low of $79.50 and a 52 week high of $131.96.

Revvity (NYSE:RVTY) last announced its earnings results on Monday, April 29th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.04. The business had revenue of $649.90 million for the quarter, compared to analysts’ expectations of $646.83 million. Revvity had a return on equity of 7.37% and a net margin of 5.49%. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $1.01 EPS. As a group, equities research analysts forecast that Revvity, Inc. will post 4.65 earnings per share for the current year.

Revvity Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 19th will be paid a dividend of $0.07 per share. The ex-dividend date is Friday, July 19th. This represents a $0.28 annualized dividend and a yield of 0.26%. Revvity’s dividend payout ratio (DPR) is 23.14%.

Wall Street Analysts Forecast Growth

RVTY has been the topic of a number of research analyst reports. Barclays decreased their target price on Revvity from $116.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Friday, June 28th. SVB Leerink began coverage on Revvity in a report on Monday. They issued an “outperform” rating and a $125.00 price target on the stock. Jefferies Financial Group began coverage on Revvity in a report on Monday, June 3rd. They issued a “hold” rating and a $115.00 price target on the stock. Leerink Partnrs upgraded Revvity to a “strong-buy” rating in a report on Monday. Finally, TD Cowen increased their price target on Revvity from $123.00 to $130.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Revvity has a consensus rating of “Moderate Buy” and an average price target of $119.14.

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.