Massachusetts Financial Services Co. MA Acquires 4,022 Shares of Revvity, Inc. (NYSE:RVTY)

Massachusetts Financial Services Co. MA lifted its stake in Revvity, Inc. (NYSE:RVTY) by 0.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 921,411 shares of the company’s stock after acquiring an additional 4,022 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Revvity were worth $117,710,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Rothschild Investment LLC bought a new stake in Revvity during the 2nd quarter worth approximately $25,000. Gladius Capital Management LP purchased a new position in shares of Revvity during the 3rd quarter valued at $32,000. EverSource Wealth Advisors LLC increased its holdings in shares of Revvity by 74.2% in the second quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company’s stock worth $41,000 after purchasing an additional 167 shares during the period. Family Firm Inc. bought a new position in shares of Revvity in the second quarter worth $43,000. Finally, Fairfield Financial Advisors LTD purchased a new stake in shares of Revvity in the second quarter worth $43,000. 86.65% of the stock is owned by institutional investors.

Insider Buying and Selling at Revvity

In other news, insider Tajinder S. Vohra sold 2,154 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $121.73, for a total transaction of $262,206.42. Following the transaction, the insider now directly owns 19,652 shares of the company’s stock, valued at approximately $2,392,237.96. The trade was a 9.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

Revvity Trading Up 0.8 %

NYSE RVTY opened at $112.03 on Friday. The stock has a 50-day moving average of $120.53 and a 200-day moving average of $115.56. The company has a current ratio of 3.56, a quick ratio of 2.97 and a debt-to-equity ratio of 0.40. Revvity, Inc. has a 1-year low of $86.30 and a 1-year high of $129.50. The firm has a market cap of $13.63 billion, a PE ratio of 54.12, a price-to-earnings-growth ratio of 2.77 and a beta of 1.05.

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

Revvity declared that its Board of Directors has approved a stock buyback program on Monday, November 4th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 6.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Revvity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be issued 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 dividend payout ratio (DPR) is presently 13.53%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on RVTY shares. Bank of America boosted their target price on Revvity from $118.00 to $127.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Barclays upgraded shares of Revvity from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $125.00 to $140.00 in a research report on Tuesday, October 15th. Citigroup lifted their target price on shares of Revvity from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Wells Fargo & Company assumed coverage on shares of Revvity in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 price target on the stock. Finally, TD Cowen raised their price objective 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. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $132.07.

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.