Principal Securities Inc. Grows Stock Holdings in Revvity, Inc. (NYSE:RVTY)

Principal Securities Inc. lifted its holdings in Revvity, Inc. (NYSE:RVTY) by 54.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 598 shares of the company’s stock after acquiring an additional 212 shares during the quarter. Principal Securities Inc.’s holdings in Revvity were worth $67,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Vontobel Holding Ltd. lifted its position in shares of Revvity by 11.0% in the 4th quarter. Vontobel Holding Ltd. now owns 2,405 shares of the company’s stock worth $268,000 after purchasing an additional 238 shares during the period. Empowered Funds LLC raised its stake in shares of Revvity by 60.1% during the 4th quarter. Empowered Funds LLC now owns 2,839 shares of the company’s stock worth $317,000 after acquiring an additional 1,066 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Revvity by 2.4% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 13,148 shares of the company’s stock worth $1,467,000 after acquiring an additional 305 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Revvity by 2.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 306,537 shares of the company’s stock worth $34,213,000 after acquiring an additional 6,814 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Revvity by 41.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,072 shares of the company’s stock worth $1,352,000 after acquiring an additional 3,542 shares in the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

Revvity Price Performance

Revvity stock opened at $115.00 on Thursday. Revvity, Inc. has a 12-month low of $97.32 and a 12-month high of $129.50. The stock has a market cap of $14.00 billion, a P/E ratio of 52.04, a PEG ratio of 3.82 and a beta of 1.03. The company has a 50-day moving average price of $116.89 and a 200 day moving average price of $118.57. The company has a current ratio of 3.60, a quick ratio of 3.03 and a debt-to-equity ratio of 0.41.

Revvity (NYSE:RVTY) last released its quarterly earnings data on Friday, January 31st. The company reported $1.42 earnings per share (EPS) for the quarter, topping 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 quarter in the previous year, the company earned $1.25 earnings per share. Sell-side analysts anticipate that Revvity, Inc. will post 4.94 earnings per share for the current year.

Revvity Announces Dividend

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

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

Wall Street Analyst Weigh In

RVTY has been the topic of a number of recent analyst reports. Sanford C. Bernstein lowered shares of Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price target on the stock. in a research note on Friday, January 10th. Barclays upped their price target on shares of Revvity from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. KeyCorp upped their price objective on shares of Revvity from $132.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Robert W. Baird upped their price objective on shares of Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, TD Cowen upped their price objective on shares of Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Four equities research 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $136.25.

Insider Buying and Selling

In other news, insider Joel S. Goldberg sold 15,170 shares of Revvity stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $126.73, for a total value of $1,922,494.10. Following the transaction, the insider now directly owns 33,400 shares of the company’s stock, valued at $4,232,782. The trade was a 31.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Tajinder S. Vohra sold 5,492 shares of Revvity stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total transaction of $641,520.52. Following the completion of the transaction, the insider now directly owns 19,652 shares in the company, valued at $2,295,550.12. The trade was 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 owned by insiders.

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.