Principal Financial Group Inc. Has $18.12 Million Stake in Revvity, Inc. (NYSE:RVTY)

Principal Financial Group Inc. increased its stake in Revvity, Inc. (NYSE:RVTY) by 3.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 141,871 shares of the company’s stock after acquiring an additional 4,263 shares during the quarter. Principal Financial Group Inc. owned 0.12% of Revvity worth $18,124,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of RVTY. UniSuper Management Pty Ltd raised its holdings in shares of Revvity by 505.2% during the first quarter. UniSuper Management Pty Ltd now owns 9,864 shares of the company’s stock valued at $1,036,000 after purchasing an additional 8,234 shares during the period. Entropy Technologies LP acquired a new position in Revvity during the 1st quarter worth approximately $480,000. Jane Street Group LLC raised its stake in Revvity by 516.4% during the 1st quarter. Jane Street Group LLC now owns 453,343 shares of the company’s stock worth $47,601,000 after buying an additional 379,802 shares during the period. Quadrature Capital Ltd bought a new position in Revvity in the first quarter worth approximately $1,267,000. Finally, Assenagon Asset Management S.A. grew its stake in Revvity by 3,171.3% in the second quarter. Assenagon Asset Management S.A. now owns 87,180 shares of the company’s stock valued at $9,142,000 after acquiring an additional 84,515 shares during the period. Institutional investors and hedge funds own 86.65% of the company’s stock.

Insider Buying and Selling

In related news, insider Tajinder S. Vohra sold 2,154 shares of Revvity stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $121.73, for a total value of $262,206.42. Following the completion of the sale, the insider now owns 19,652 shares of the company’s stock, valued at approximately $2,392,237.96. This trade represents a 9.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.60% of the stock is currently owned by insiders.

Revvity Stock Down 3.1 %

Shares of NYSE:RVTY opened at $116.05 on Friday. Revvity, Inc. has a 1 year low of $86.30 and a 1 year high of $129.50. The company has a market capitalization of $14.12 billion, a PE ratio of 57.85, a price-to-earnings-growth ratio of 3.01 and a beta of 1.05. The business has a fifty day moving average price of $121.65 and a two-hundred day moving average price of $115.22. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.56 and a quick ratio of 2.97.

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

Revvity declared that its board has authorized a stock repurchase program on Monday, November 4th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to buy up to 6.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Revvity Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be paid a dividend of $0.07 per share. The ex-dividend date is Friday, January 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.24%. Revvity’s payout ratio is currently 13.53%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RVTY. Jefferies Financial Group increased their target price on Revvity from $115.00 to $125.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Wells Fargo & Company initiated coverage on shares of Revvity in a research note on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 price objective on the stock. Robert W. Baird boosted their target price on shares of Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Raymond James lifted their price target on Revvity from $144.00 to $146.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Finally, Bank of America increased their price objective on Revvity from $118.00 to $127.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $132.07.

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.