Massachusetts Financial Services Co. MA Has $100.43 Million Stock Position in Revvity Inc. $RVTY

Massachusetts Financial Services Co. MA trimmed its stake in shares of Revvity Inc. (NYSE:RVTY) by 1.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,145,780 shares of the company’s stock after selling 14,445 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.99% of Revvity worth $100,428,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. EdgePoint Investment Group Inc. increased its stake in Revvity by 26.7% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 6,789,660 shares of the company’s stock worth $656,696,000 after acquiring an additional 1,428,813 shares during the period. Norges Bank bought a new stake in Revvity during the 2nd quarter worth $124,574,000. Allspring Global Investments Holdings LLC increased its stake in shares of Revvity by 14,741.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 771,470 shares of the company’s stock valued at $70,790,000 after buying an additional 766,272 shares during the period. Invesco Ltd. increased its position in Revvity by 25.8% in the 2nd quarter. Invesco Ltd. now owns 2,207,202 shares of the company’s stock valued at $213,481,000 after acquiring an additional 452,343 shares during the period. Finally, Amundi raised its position in Revvity by 157.0% during the 2nd quarter. Amundi now owns 519,987 shares of the company’s stock worth $52,467,000 after purchasing an additional 317,643 shares during the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

Revvity Price Performance

Shares of RVTY stock opened at $111.99 on Wednesday. The company has a quick ratio of 1.44, a current ratio of 1.75 and a debt-to-equity ratio of 0.36. The business’s fifty day moving average is $100.76 and its 200 day moving average is $94.63. The stock has a market cap of $12.70 billion, a price-to-earnings ratio of 56.28, a PEG ratio of 3.44 and a beta of 1.05. Revvity Inc. has a twelve month low of $81.36 and a twelve month high of $128.29.

Revvity (NYSE:RVTY) last announced its quarterly earnings results on Monday, October 27th. The company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. Revvity had a net margin of 8.44% and a return on equity of 7.52%. The company had revenue of $698.95 million for the quarter, compared to analysts’ expectations of $699.75 million. During the same quarter in the previous year, the business posted $1.28 EPS. Revvity’s revenue was up 2.2% compared to the same quarter last year. Revvity has set its FY 2025 guidance at 4.900-5.000 EPS. Research analysts expect that Revvity Inc. will post 4.94 EPS for the current fiscal year.

Revvity Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 6th. Stockholders of record on Friday, January 16th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Friday, January 16th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.3%. Revvity’s dividend payout ratio is 14.07%.

Revvity announced that its board has authorized a stock buyback plan on Monday, October 27th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 8.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Guggenheim assumed coverage on Revvity in a research report on Wednesday, October 15th. They set a “neutral” rating for the company. Bank of America downgraded Revvity from a “buy” rating to a “neutral” rating and set a $110.00 target price for the company. in a research report on Monday, December 15th. Weiss Ratings reiterated a “sell (d)” rating on shares of Revvity in a research note on Monday, December 29th. Robert W. Baird lifted their price objective on shares of Revvity from $122.00 to $123.00 and gave the company an “outperform” rating in a research note on Tuesday, October 28th. Finally, The Goldman Sachs Group assumed coverage on shares of Revvity in a research note on Tuesday, December 9th. They set a “neutral” rating and a $105.00 price objective for the company. Six research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $113.91.

Revvity Profile

Revvity, Inc is a global provider of technology-enabled solutions for the life sciences, diagnostics and applied markets. The company develops and supplies a range of products and services, including reagents and consumables, laboratory instruments, workflow automation, software analytics and technical support. Its portfolio supports applications in drug discovery, genomics, cell biology research, environmental and food safety testing, industrial quality control and clinical diagnostics.

Tracing its heritage to Perkin-Elmer, founded in 1937, Revvity began trading on the New York Stock Exchange under the ticker symbol RVTY in January 2024 following a corporate rebranding.