Revvity (NYSE:RVTY) Updates FY 2024 Earnings Guidance

Revvity (NYSE:RVTY) issued an update on its FY 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 4.700-4.800 for the period, compared to the consensus estimate of 4.630. The company issued revenue guidance of $2.8 billion-$2.8 billion, compared to the consensus revenue estimate of $2.8 billion. Revvity also updated its FY24 guidance to $4.70-4.80 EPS.

Revvity Stock Performance

Shares of RVTY stock opened at $125.61 on Thursday. The company has a market capitalization of $15.50 billion, a P/E ratio of 103.81, a PEG ratio of 3.01 and a beta of 1.05. Revvity has a fifty-two week low of $79.50 and a fifty-two week high of $128.15. 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 50 day moving average price of $109.63 and a two-hundred day moving average price of $106.82.

Revvity (NYSE:RVTY) last posted its quarterly earnings results on Monday, July 29th. The company reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10. The company had revenue of $691.70 million during the quarter, compared to analyst estimates of $690.33 million. Revvity had a net margin of 6.26% and a return on equity of 7.34%. The firm’s revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.21 EPS. Analysts expect that Revvity will post 4.76 earnings per share for the current year.

Revvity Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts recently issued reports on RVTY shares. SVB Leerink began coverage on Revvity in a report on Monday, July 8th. They set an outperform rating and a $125.00 price target on the stock. Bank of America boosted their target price on Revvity from $118.00 to $127.00 and gave the company a neutral rating in a research note on Tuesday. JPMorgan Chase & Co. raised their price target on Revvity from $105.00 to $120.00 and gave the stock a neutral rating in a research note on Tuesday. Leerink Partnrs raised shares of Revvity to a strong-buy rating in a research report on Monday, July 8th. Finally, Robert W. Baird raised their target price on shares of Revvity from $126.00 to $127.00 and gave the stock an outperform rating in a research report on Tuesday, April 30th. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $123.81.

Insider Activity

In other Revvity news, insider Joel S. Goldberg sold 4,000 shares of Revvity stock in a transaction on Friday, June 7th. The stock was sold at an average price of $110.46, for a total transaction of $441,840.00. Following the completion of the transaction, the insider now owns 36,900 shares in the company, valued at $4,075,974. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company 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.