Revvity (NYSE:RVTY) Announces Earnings Results, Beats Expectations By $0.10 EPS

Revvity (NYSE:RVTY) issued its quarterly earnings data on Monday. The company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10, RTT News reports. Revvity had a return on equity of 7.34% and a net margin of 6.26%. The business had revenue of $691.70 million for the quarter, compared to analyst estimates of $690.33 million. During the same quarter in the prior year, the firm posted $1.21 EPS. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. Revvity updated its FY 2024 guidance to 4.700-4.800 EPS and its FY24 guidance to $4.70-4.80 EPS.

Revvity Price Performance

Revvity stock traded down $0.78 during trading hours on Thursday, hitting $124.83. 47,601 shares of the stock were exchanged, compared to its average volume of 876,472. Revvity has a 12 month low of $79.50 and a 12 month high of $128.15. The business’s 50-day moving average is $109.63 and its two-hundred day moving average is $106.82. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 2.27. The stock has a market capitalization of $15.40 billion, a P/E ratio of 103.81, a P/E/G ratio of 3.01 and a beta of 1.05.

Revvity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 18th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.22%. The ex-dividend date of this dividend is Friday, October 18th. Revvity’s dividend payout ratio is currently 23.14%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. SVB Leerink started coverage on shares of Revvity in a report on Monday, July 8th. They issued an “outperform” rating and a $125.00 target price on the stock. Barclays increased their price objective on Revvity from $115.00 to $125.00 and gave the company an “equal weight” rating in a research report on Tuesday. TD Cowen boosted their target price on shares of Revvity from $130.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday. Robert W. Baird increased their price target on shares of Revvity from $126.00 to $127.00 and gave the company an “outperform” rating in a report on Tuesday, April 30th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Revvity from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Tuesday. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $123.81.

Insider Buying and Selling at Revvity

In other Revvity news, insider Joel S. Goldberg sold 4,000 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $110.46, for a total transaction of $441,840.00. Following the transaction, the insider now directly owns 36,900 shares in the company, valued at approximately $4,075,974. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.60% of the company’s stock.

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.