Massachusetts Financial Services Co. MA Has $117.71 Million Stock Position in Revvity, Inc. (NYSE:RVTY)

Massachusetts Financial Services Co. MA grew its holdings in shares of Revvity, Inc. (NYSE:RVTY) by 0.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 921,411 shares of the company’s stock after acquiring an additional 4,022 shares during the period. Massachusetts Financial Services Co. MA owned about 0.76% of Revvity worth $117,710,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Empirical Finance LLC increased its position in Revvity by 2.0% during the 3rd quarter. Empirical Finance LLC now owns 4,237 shares of the company’s stock valued at $541,000 after purchasing an additional 85 shares during the period. CX Institutional increased its position in shares of Revvity by 1.1% during the third quarter. CX Institutional now owns 7,984 shares of the company’s stock worth $1,020,000 after buying an additional 86 shares during the period. Garrison Asset Management LLC raised its stake in Revvity by 0.5% during the second quarter. Garrison Asset Management LLC now owns 21,328 shares of the company’s stock worth $2,236,000 after buying an additional 103 shares during the last quarter. TriaGen Wealth Management LLC raised its stake in Revvity by 2.3% during the second quarter. TriaGen Wealth Management LLC now owns 4,767 shares of the company’s stock worth $500,000 after buying an additional 107 shares during the last quarter. Finally, Guinness Asset Management LTD lifted its holdings in Revvity by 3.3% in the second quarter. Guinness Asset Management LTD now owns 3,587 shares of the company’s stock valued at $376,000 after buying an additional 116 shares during the period. Institutional investors and hedge funds own 86.65% of the company’s stock.

Insider Activity

In other Revvity news, insider Tajinder S. Vohra sold 2,153 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $122.09, for a total transaction of $262,859.77. Following the completion of the transaction, the insider now directly owns 23,960 shares of the company’s stock, valued at approximately $2,925,276.40. This represents a 8.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on RVTY. Leerink Partners upped their target price on Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Jefferies Financial Group raised their price objective on shares of Revvity from $115.00 to $125.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. TD Cowen boosted their target price on shares of Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Bank of America raised their price target on shares of Revvity from $118.00 to $127.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Revvity from $105.00 to $120.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $132.07.

Revvity Price Performance

Shares of NYSE RVTY opened at $112.03 on Friday. The company has a quick ratio of 2.97, a current ratio of 3.56 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $13.63 billion, a PE ratio of 54.12, a PEG ratio of 2.77 and a beta of 1.05. The stock’s 50 day moving average price is $120.53 and its 200-day moving average price is $115.56. Revvity, Inc. has a twelve month low of $86.30 and a twelve month high of $129.50.

Revvity (NYSE:RVTY) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.15. The firm had revenue of $684.10 million during the quarter, compared to the consensus estimate of $679.66 million. Revvity had a return on equity of 7.42% and a net margin of 9.34%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.18 EPS. On average, equities analysts anticipate that Revvity, Inc. will post 4.85 EPS for the current year.

Revvity announced that its Board of Directors has authorized a stock repurchase program on Monday, November 4th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to reacquire up to 6.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Revvity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date is Friday, January 17th. Revvity’s payout ratio is 13.53%.

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.