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

Principal Financial Group Inc. increased its stake in shares of Revvity, Inc. (NYSE:RVTY) by 3.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 141,871 shares of the company’s stock after purchasing an additional 4,263 shares during the quarter. Principal Financial Group Inc. owned approximately 0.12% of Revvity worth $18,124,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RVTY. Tidal Investments LLC boosted its stake in shares of Revvity by 2,388.8% during the 3rd quarter. Tidal Investments LLC now owns 52,787 shares of the company’s stock valued at $6,744,000 after buying an additional 50,666 shares during the period. Coldstream Capital Management Inc. raised its holdings in shares of Revvity by 5.1% during the third quarter. Coldstream Capital Management Inc. now owns 2,247 shares of the company’s stock worth $286,000 after acquiring an additional 110 shares in the last quarter. Geode Capital Management LLC boosted its position in Revvity by 0.9% during the third quarter. Geode Capital Management LLC now owns 2,863,793 shares of the company’s stock valued at $364,569,000 after purchasing an additional 25,078 shares during the last quarter. Guardian Wealth Management Inc. grew its stake in Revvity by 1.4% in the third quarter. Guardian Wealth Management Inc. now owns 11,796 shares of the company’s stock valued at $1,507,000 after purchasing an additional 158 shares in the last quarter. Finally, Continuum Advisory LLC increased its position in Revvity by 2,972.7% in the 3rd quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock worth $43,000 after purchasing an additional 327 shares during the last quarter. 86.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Robert W. Baird lifted their price target on Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Sanford C. Bernstein decreased their target price on shares of Revvity from $150.00 to $145.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Barclays cut their price target on shares of Revvity from $140.00 to $135.00 and set an “overweight” rating on the stock in a report on Monday, November 25th. Leerink Partners increased their target price on shares of Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, TD Cowen raised their target price on Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Five analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Revvity currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.47.

Revvity Stock Performance

NYSE:RVTY opened at $112.50 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.97 and a current ratio of 3.56. The firm’s 50-day moving average is $116.57 and its 200-day moving average is $116.55. Revvity, Inc. has a 52-week low of $97.32 and a 52-week high of $129.50. The company has a market cap of $13.69 billion, a price-to-earnings ratio of 54.35, a PEG ratio of 3.59 and a beta of 1.03.

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

Revvity Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date of this dividend is Friday, January 17th. Revvity’s payout ratio is 13.53%.

Revvity announced that its Board of Directors has authorized a stock buyback program on Monday, November 4th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 6.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other Revvity news, insider Tajinder S. Vohra sold 2,153 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $122.09, for a total transaction of $262,859.77. Following the completion of the transaction, the insider now directly owns 23,960 shares in the company, valued at $2,925,276.40. This represents a 8.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.60% of the stock is owned by company insiders.

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.