Principal Financial Group Inc. Sells 511 Shares of Revvity Inc. (NYSE:RVTY)

Principal Financial Group Inc. reduced its holdings in Revvity Inc. (NYSE:RVTY) by 0.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 137,107 shares of the company’s stock after selling 511 shares during the quarter. Principal Financial Group Inc. owned about 0.11% of Revvity worth $14,506,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in RVTY. Victory Capital Management Inc. grew its position in shares of Revvity by 17.4% in the 4th quarter. Victory Capital Management Inc. now owns 70,250 shares of the company’s stock worth $7,841,000 after buying an additional 10,390 shares during the last quarter. Assetmark Inc. boosted its position in shares of Revvity by 3,700.0% during the fourth quarter. Assetmark Inc. now owns 266 shares of the company’s stock valued at $30,000 after purchasing an additional 259 shares in the last quarter. Proficio Capital Partners LLC boosted its position in shares of Revvity by 12,298.3% during the fourth quarter. Proficio Capital Partners LLC now owns 195,769 shares of the company’s stock valued at $21,850,000 after purchasing an additional 194,190 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Revvity during the fourth quarter valued at approximately $2,248,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Revvity by 20.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,360 shares of the company’s stock valued at $5,063,000 after purchasing an additional 7,555 shares in the last quarter. 86.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RVTY has been the topic of several research reports. JPMorgan Chase & Co. dropped their price target on Revvity from $120.00 to $100.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. Robert W. Baird decreased their target price on shares of Revvity from $127.00 to $125.00 and set an “outperform” rating for the company in a research note on Tuesday, April 29th. Wells Fargo & Company decreased their target price on shares of Revvity from $130.00 to $102.00 and set an “equal weight” rating for the company in a research note on Thursday, April 17th. Raymond James Financial reissued an “outperform” rating and issued a $120.00 target price (down from $145.00) on shares of Revvity in a report on Tuesday, April 29th. Finally, Wall Street Zen raised Revvity from a “hold” rating to a “buy” rating in a report on Saturday, June 28th. Four equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $123.07.

Revvity Trading Down 0.9%

Shares of NYSE:RVTY opened at $101.49 on Friday. The company has a market cap of $11.96 billion, a P/E ratio of 43.19, a PEG ratio of 2.56 and a beta of 0.98. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.58 and a quick ratio of 2.99. Revvity Inc. has a 1 year low of $87.70 and a 1 year high of $129.50. The stock’s fifty day moving average price is $94.71 and its 200-day moving average price is $104.48.

Revvity (NYSE:RVTY) last announced its quarterly earnings results on Monday, April 28th. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.05. The firm had revenue of $664.76 million for the quarter, compared to the consensus estimate of $662.30 million. Revvity had a return on equity of 7.73% and a net margin of 10.35%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.98 earnings per share. Sell-side analysts expect that Revvity Inc. will post 4.94 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 8th. Investors of record on Friday, July 18th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date is Friday, July 18th. Revvity’s dividend payout ratio (DPR) is presently 11.91%.

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.