Massachusetts Financial Services Co. MA Reduces Position in Revvity, Inc. (NYSE:RVTY)

Massachusetts Financial Services Co. MA trimmed its stake in shares of Revvity, Inc. (NYSE:RVTY - Free Report) by 1.0% in the 2nd quarter, according to its most recent disclosure with the SEC. 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 0.74% of Revvity worth $96,197,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of RVTY. Capital Research Global Investors purchased a new position in shares of Revvity in the 4th quarter worth $838,080,000. Norges Bank purchased a new position in shares of Revvity in the 4th quarter worth $129,483,000. Northern Trust Corp purchased a new position in shares of Revvity in the 4th quarter worth $127,401,000. Primecap Management Co. CA purchased a new position in shares of Revvity in the 4th quarter worth $108,100,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Revvity in the 4th quarter worth $69,796,000. 86.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on RVTY shares. Leerink Partnrs raised shares of Revvity to a "strong-buy" rating in a research note on Monday, July 8th. Leerink Partners began coverage on shares of Revvity in a report on Monday, July 8th. They issued an "outperform" rating and a $125.00 target price for the company. TD Cowen raised their target price on shares of Revvity from $130.00 to $141.00 and gave the stock a "buy" rating in a report on Tuesday, July 30th. 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. Finally, Wells Fargo & Company initiated coverage on shares of Revvity in a report on Tuesday, August 27th. They issued an "equal weight" rating and a $130.00 target price for the company. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $126.00.

Insider Transactions at Revvity

In other news, insider Joel S. Goldberg sold 3,500 shares of Revvity stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $117.86, for a total value of $412,510.00. Following the transaction, the insider now owns 33,400 shares of the company's stock, valued at approximately $3,936,524. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.60% of the company's stock.

Revvity Stock Up 1.5 %

NYSE RVTY traded up $1.89 during trading on Thursday, reaching $126.48. 728,084 shares of the company's stock traded hands, compared to its average volume of 835,750. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.98. The firm has a market cap of $15.61 billion, a price-to-earnings ratio of 102.97, a price-to-earnings-growth ratio of 2.87 and a beta of 1.05. The company's 50 day simple moving average is $118.46 and its two-hundred day simple moving average is $110.36. Revvity, Inc. has a 12-month low of $79.50 and a 12-month high of $128.15.

Revvity (NYSE:RVTY - Get Free Report) last posted its earnings results on Monday, July 29th. The company reported $1.22 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.10. The business had revenue of $691.70 million for the quarter, compared to the consensus estimate of $690.33 million. Revvity had a net margin of 6.26% and a return on equity of 7.34%. The company's revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.21 EPS. As a group, sell-side analysts forecast that Revvity, Inc. will post 4.75 EPS for the current fiscal year.

Revvity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 18th will be given a $0.07 dividend. 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 payout ratio is currently 23.14%.

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.