Choreo LLC Invests $328,000 in Revvity, Inc. (NYSE:RVTY)

Choreo LLC acquired a new stake in shares of Revvity, Inc. (NYSE:RVTY) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,173 shares of the company’s stock, valued at approximately $328,000.

A number of other hedge funds also recently bought and sold shares of the stock. Rothschild Investment LLC purchased a new position in shares of Revvity in the 2nd quarter worth approximately $25,000. Logan Capital Management Inc. acquired a new position in shares of Revvity during the fourth quarter worth $37,000. Family Firm Inc. purchased a new stake in shares of Revvity during the 2nd quarter valued at $43,000. Parallel Advisors LLC acquired a new stake in shares of Revvity in the 4th quarter worth $47,000. Finally, EntryPoint Capital LLC purchased a new position in Revvity during the 1st quarter worth $48,000. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Insider Buying and Selling at Revvity

In related news, insider Joel S. Goldberg sold 3,500 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $117.86, for a total value of $412,510.00. Following the completion of the transaction, the insider now directly owns 33,400 shares in the company, valued at $3,936,524. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.60% of the stock is owned by company insiders.

Revvity Stock Performance

NYSE:RVTY opened at $122.71 on Wednesday. The stock has a market capitalization of $15.14 billion, a PE ratio of 101.41, a P/E/G ratio of 2.87 and a beta of 1.05. The company has a fifty day moving average of $118.10 and a two-hundred day moving average of $110.26. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.98 and a current ratio of 2.27. Revvity, Inc. has a fifty-two week low of $79.50 and a fifty-two week high of $128.15.

Revvity (NYSE:RVTY) last posted its quarterly earnings data on Monday, July 29th. The company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.12 by $0.10. The company had revenue of $691.70 million during the quarter, compared to analyst estimates of $690.33 million. Revvity had a return on equity of 7.34% and a net margin of 6.26%. Revvity’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.21 EPS. As a group, research analysts forecast that Revvity, Inc. will post 4.75 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 18th will be paid a dividend of $0.07 per share. The ex-dividend date is Friday, October 18th. This represents a $0.28 annualized dividend and a yield of 0.23%. Revvity’s dividend payout ratio is presently 23.14%.

Analyst Ratings Changes

RVTY has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on Revvity from $105.00 to $120.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Bank of America boosted their target price on shares of Revvity from $118.00 to $127.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Leerink Partners assumed coverage on shares of Revvity in a report on Monday, July 8th. They issued an “outperform” rating and a $125.00 price target for the company. Wells Fargo & Company assumed coverage on shares of Revvity in a report on Tuesday, August 27th. They set an “equal weight” rating and a $130.00 price objective on the stock. Finally, Barclays raised their target price on Revvity from $115.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.00.

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.