Principal Financial Group Inc. Sells 4,253 Shares of Revvity, Inc. (NYSE:RVTY)

Principal Financial Group Inc. reduced its stake in Revvity, Inc. (NYSE:RVTY) by 3.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 137,618 shares of the company’s stock after selling 4,253 shares during the quarter. Principal Financial Group Inc. owned 0.11% of Revvity worth $15,360,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in RVTY. EdgePoint Investment Group Inc. lifted its position in Revvity by 34.6% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 2,685,775 shares of the company’s stock worth $343,108,000 after buying an additional 690,534 shares in the last quarter. Southpoint Capital Advisors LP bought a new stake in Revvity during the 3rd quarter worth about $25,550,000. Janus Henderson Group PLC lifted its position in Revvity by 1.7% during the 3rd quarter. Janus Henderson Group PLC now owns 6,335,302 shares of the company’s stock worth $809,332,000 after buying an additional 108,401 shares in the last quarter. Holocene Advisors LP lifted its position in Revvity by 14.6% during the 3rd quarter. Holocene Advisors LP now owns 725,917 shares of the company’s stock worth $92,736,000 after buying an additional 92,240 shares in the last quarter. Finally, Contravisory Investment Management Inc. lifted its position in Revvity by 1,715.9% during the 4th quarter. Contravisory Investment Management Inc. now owns 69,186 shares of the company’s stock worth $7,722,000 after buying an additional 65,376 shares in the last quarter. 86.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

RVTY has been the topic of several analyst reports. Bank of America raised shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price target on the stock in a research report on Friday, December 13th. Barclays upped their target price on shares of Revvity from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. KeyCorp upped their target price on shares of Revvity from $132.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. TD Cowen upped their target price on shares of Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, Robert W. Baird upped their price target on shares of Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $136.25.

Insider Transactions at Revvity

In other news, insider Joel S. Goldberg sold 15,170 shares of Revvity stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $126.73, for a total transaction of $1,922,494.10. Following the completion of the transaction, the insider now directly owns 33,400 shares in the company, valued at $4,232,782. This trade represents a 31.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tajinder S. Vohra sold 5,492 shares of Revvity stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total transaction of $641,520.52. Following the transaction, the insider now owns 19,652 shares of the company’s stock, valued at $2,295,550.12. This represents a 21.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by corporate insiders.

Revvity Price Performance

Shares of NYSE:RVTY opened at $115.00 on Thursday. The company has a market cap of $14.00 billion, a price-to-earnings ratio of 52.04, a PEG ratio of 3.82 and a beta of 1.03. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.60 and a quick ratio of 3.03. The firm has a 50 day simple moving average of $116.89 and a 200 day simple moving average of $118.57. Revvity, Inc. has a one year low of $97.32 and a one year high of $129.50.

Revvity (NYSE:RVTY) last issued its quarterly earnings data on Friday, January 31st. The company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.37 by $0.05. Revvity had a net margin of 9.81% and a return on equity of 7.68%. During the same period in the prior year, the business posted $1.25 earnings per share. Research analysts predict that Revvity, Inc. will post 4.94 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 18th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.24%. The ex-dividend date is Thursday, April 17th. Revvity’s dividend payout ratio (DPR) is presently 12.67%.

Revvity declared that its Board of Directors has initiated a share repurchase plan on Monday, November 4th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to repurchase up to 6.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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.