Principal Financial Group Inc. Invests $15.21 Million in Revvity, Inc. (NYSE:RVTY)

Principal Financial Group Inc. purchased a new position in shares of Revvity, Inc. (NYSE:RVTY) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 139,172 shares of the company’s stock, valued at approximately $15,213,000. Principal Financial Group Inc. owned approximately 0.11% of Revvity at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Byrne Asset Management LLC purchased a new stake in shares of Revvity during the 4th quarter worth about $1,112,000. BNP Paribas Financial Markets purchased a new stake in shares of Revvity during the 4th quarter worth about $12,039,000. State of Michigan Retirement System purchased a new stake in shares of Revvity during the 4th quarter worth about $3,688,000. Gulf International Bank UK Ltd purchased a new stake in shares of Revvity during the 4th quarter worth about $1,136,000. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Revvity during the 4th quarter worth about $10,291,000. 86.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Robert W. Baird raised their price objective on Revvity from $126.00 to $127.00 and gave the company an “outperform” rating in a research note on Tuesday, April 30th. Raymond James raised their price objective on Revvity from $106.00 to $127.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. TD Cowen raised their price objective on Revvity from $123.00 to $130.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. KeyCorp raised their price objective on Revvity from $110.00 to $126.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Finally, Barclays raised their price objective on Revvity from $92.00 to $105.00 and gave the company an “equal weight” rating in a research note on Thursday, January 25th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $118.17.

Revvity Stock Performance

RVTY opened at $111.89 on Friday. The firm has a market capitalization of $13.81 billion, a P/E ratio of 92.47, a price-to-earnings-growth ratio of 2.94 and a beta of 1.09. The stock’s 50 day moving average price is $104.57 and its two-hundred day moving average price is $102.50. The company has a quick ratio of 1.92, a current ratio of 2.23 and a debt-to-equity ratio of 0.40. Revvity, Inc. has a 12-month low of $79.50 and a 12-month high of $131.96.

Revvity (NYSE:RVTY) last released its earnings results on Monday, April 29th. The company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. Revvity had a return on equity of 7.37% and a net margin of 5.49%. The firm had revenue of $649.90 million for the quarter, compared to analyst estimates of $646.83 million. During the same quarter last year, the firm posted $1.01 EPS. The company’s revenue was down 3.7% on a year-over-year basis. On average, equities analysts forecast that Revvity, Inc. will post 4.66 earnings per share for the current year.

Revvity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 19th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.25%. The ex-dividend date is Friday, July 19th. Revvity’s payout ratio is presently 23.14%.

Revvity Company 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.