Principal Financial Group Inc. Has $14.43 Million Holdings in Revvity, Inc. (NYSE:RVTY)

Principal Financial Group Inc. trimmed its stake in shares of Revvity, Inc. (NYSE:RVTY) by 2.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 137,608 shares of the company’s stock after selling 3,631 shares during the period. Principal Financial Group Inc. owned approximately 0.11% of Revvity worth $14,430,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of RVTY. Capital Research Global Investors acquired a new position in Revvity during the 4th quarter valued at about $838,080,000. Janus Henderson Group PLC lifted its holdings in Revvity by 3.9% in the first quarter. Janus Henderson Group PLC now owns 5,664,528 shares of the company’s stock valued at $594,769,000 after buying an additional 210,100 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Revvity by 18.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,126,271 shares of the company’s stock valued at $223,258,000 after acquiring an additional 332,632 shares during the last quarter. Norges Bank acquired a new stake in Revvity during the 4th quarter worth $129,483,000. Finally, Northern Trust Corp bought a new stake in shares of Revvity during the 4th quarter valued at $127,401,000. 86.65% of the stock is owned by institutional investors.

Revvity Price Performance

NYSE RVTY opened at $117.12 on Friday. The firm’s 50 day moving average is $115.37 and its 200-day moving average is $109.33. The company has a quick ratio of 1.98, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $14.45 billion, a PE ratio of 96.79, a price-to-earnings-growth ratio of 2.91 and a beta of 1.05. Revvity, Inc. has a 12-month low of $79.50 and a 12-month high of $128.15.

Revvity (NYSE:RVTY) last issued its quarterly earnings results on Monday, July 29th. The company reported $1.22 EPS for the quarter, topping the consensus estimate of $1.12 by $0.10. The firm had revenue of $691.70 million for the quarter, compared to analysts’ expectations 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 period in the previous year, the firm posted $1.21 EPS. Equities 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 declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 18th will be paid a $0.07 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.28 dividend on an annualized basis and a yield of 0.24%. Revvity’s dividend payout ratio is 23.14%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. 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. Leerink Partnrs upgraded Revvity to a “strong-buy” rating in a research report on Monday, July 8th. Leerink Partners assumed coverage on shares of Revvity in a research report on Monday, July 8th. They issued an “outperform” rating and a $125.00 price target on the stock. Jefferies Financial Group boosted their price objective on shares of Revvity from $115.00 to $125.00 and gave the company a “hold” rating in a report on Monday, July 29th. Finally, 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 target price on the stock. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $126.00.

Insiders Place Their Bets

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

Revvity 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.