The Manufacturers Life Insurance Company Has $57.87 Million Stock Holdings in Revvity, Inc. (NYSE:RVTY)

The Manufacturers Life Insurance Company grew its stake in Revvity, Inc. (NYSE:RVTY) by 5.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 551,880 shares of the company’s stock after purchasing an additional 29,204 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.45% of Revvity worth $57,870,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. MBB Public Markets I LLC acquired a new position in Revvity in the second quarter valued at about $908,000. Deerfield Management Company L.P. Series C increased its stake in shares of Revvity by 200.5% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 12,058 shares of the company’s stock valued at $1,264,000 after acquiring an additional 8,045 shares during the last quarter. EdgePoint Investment Group Inc. acquired a new stake in shares of Revvity in the 2nd quarter valued at approximately $209,221,000. Armistice Capital LLC boosted its stake in Revvity by 26.9% during the 2nd quarter. Armistice Capital LLC now owns 95,180 shares of the company’s stock worth $9,981,000 after acquiring an additional 20,180 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Revvity by 60.7% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 23,657 shares of the company’s stock valued at $2,481,000 after purchasing an additional 8,940 shares during the period. 86.65% of the stock is currently owned by institutional investors.

Revvity Stock Down 0.2 %

Revvity stock opened at $126.06 on Friday. The company has a current ratio of 2.27, a quick ratio of 1.98 and a debt-to-equity ratio of 0.40. Revvity, Inc. has a 1-year low of $79.50 and a 1-year high of $128.15. The company has a fifty day simple moving average of $120.44 and a 200 day simple moving average of $111.13. The company has a market cap of $15.55 billion, a P/E ratio of 104.18, a price-to-earnings-growth ratio of 2.90 and a beta of 1.05.

Revvity (NYSE:RVTY) last announced its quarterly earnings data on Monday, July 29th. The company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.10. Revvity had a return on equity of 7.34% and a net margin of 6.26%. The company had revenue of $691.70 million during the quarter, compared to analysts’ expectations of $690.33 million. During the same quarter last year, the company earned $1.21 EPS. Revvity’s revenue for the quarter was down 2.5% compared to the same quarter last year. Research analysts anticipate that Revvity, Inc. will post 4.75 earnings per share for the current fiscal year.

Revvity Announces Dividend

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

Analysts Set New Price Targets

RVTY has been the topic of a number of recent analyst reports. Barclays lifted their price target on shares of Revvity from $115.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Leerink Partnrs raised Revvity to a “strong-buy” rating in a research note on Monday, July 8th. TD Cowen raised their price target on Revvity from $130.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Citigroup lifted their price objective on Revvity from $135.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Finally, Bank of America raised their target price on shares of Revvity from $118.00 to $127.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Eight analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Revvity currently has an average rating of “Moderate Buy” and a consensus price target of $125.53.

Insider Activity

In related news, insider Joel S. Goldberg sold 3,500 shares of the business’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 transaction, the insider now directly owns 33,400 shares in the company, valued at $3,936,524. The sale was disclosed in a filing with the SEC, which is available through this link. 0.60% of the stock is currently owned by insiders.

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.