Massachusetts Financial Services Co. MA Has $96.20 Million Stock Holdings in Revvity, Inc. (NYSE:RVTY)

Massachusetts Financial Services Co. MA lessened its holdings in Revvity, Inc. (NYSE:RVTY) by 1.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 917,389 shares of the company’s stock after selling 9,353 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.74% of Revvity worth $96,197,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital Research Global Investors acquired a new stake in shares of Revvity during the fourth quarter worth approximately $838,080,000. Janus Henderson Group PLC increased its holdings in shares of Revvity by 3.9% during the first quarter. Janus Henderson Group PLC now owns 5,664,528 shares of the company’s stock worth $594,769,000 after buying an additional 210,100 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Revvity by 18.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,126,271 shares of the company’s stock worth $223,258,000 after buying an additional 332,632 shares in the last quarter. Norges Bank acquired a new stake in shares of Revvity during the fourth quarter worth approximately $129,483,000. Finally, Northern Trust Corp acquired a new stake in shares of Revvity during the fourth quarter worth approximately $127,401,000. Institutional investors and hedge funds own 86.65% of the company’s stock.

Revvity Trading Up 1.5 %

Shares of NYSE RVTY opened at $124.59 on Thursday. The company’s fifty day moving average is $118.46 and its 200-day moving average is $110.36. The stock has a market cap of $15.37 billion, a price-to-earnings ratio of 102.97, a P/E/G ratio of 2.87 and a beta of 1.05. Revvity, Inc. has a twelve month low of $79.50 and a twelve month high of $128.15. The company has a quick ratio of 1.98, a current ratio of 2.27 and a debt-to-equity ratio of 0.40.

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

Revvity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 18th will be issued a dividend of $0.07 per share. The ex-dividend date is Friday, October 18th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.22%. Revvity’s payout ratio is 23.14%.

Insider Buying and Selling

In related news, insider Joel S. Goldberg sold 3,500 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $117.86, for a total transaction of $412,510.00. Following the sale, 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 SEC, which is available at this hyperlink. 0.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

RVTY has been the subject of a number of research reports. Barclays raised their price target on shares of Revvity from $115.00 to $125.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Leerink Partnrs raised shares of Revvity to a “strong-buy” rating in a report on Monday, July 8th. JPMorgan Chase & Co. raised their price target on shares of Revvity from $105.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Bank of America raised their price target on shares of Revvity from $118.00 to $127.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Finally, Leerink Partners initiated 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. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.