Revvity (NYSE:RVTY) Releases 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 4.830-4.870 for the period, compared to the consensus estimate of 4.750. 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 $4.83-4.87 EPS.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on RVTY shares. Leerink Partnrs raised shares of Revvity to a “strong-buy” rating in a report on Monday, July 8th. Citigroup lifted their price target on shares of Revvity from $135.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Wells Fargo & Company started coverage on shares of Revvity in a research note on Tuesday, August 27th. They set an “equal weight” rating and a $130.00 price objective on the stock. Barclays upgraded Revvity from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $125.00 to $140.00 in a research note on Tuesday, October 15th. Finally, JPMorgan Chase & Co. increased their price target on Revvity from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 30th. Seven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $129.57.

Revvity Stock Up 3.1 %

Revvity stock opened at $124.82 on Tuesday. Revvity has a 52 week low of $82.17 and a 52 week high of $128.83. The stock has a market cap of $15.40 billion, a price-to-earnings ratio of 90.45, a PEG ratio of 3.34 and a beta of 1.05. The company’s 50-day moving average price is $121.46 and its two-hundred day moving average price is $114.29. The company has a current ratio of 2.27, a quick ratio of 1.98 and a debt-to-equity ratio of 0.40.

Revvity (NYSE:RVTY) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.15. The business had revenue of $684.10 million for the quarter, compared to analyst estimates of $679.66 million. Revvity had a net margin of 6.26% and a return on equity of 7.34%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the business earned $1.18 earnings per share. On average, analysts expect that Revvity will post 4.75 EPS for the current fiscal year.

Revvity Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.22%. Revvity’s dividend payout ratio (DPR) is 20.29%.

Revvity announced that its board has approved a stock repurchase plan on Monday, November 4th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase up to 6.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other Revvity news, insider Joel S. Goldberg sold 3,500 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $117.86, for a total value of $412,510.00. Following the transaction, the insider now owns 33,400 shares of the company’s stock, valued at approximately $3,936,524. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Joel S. Goldberg sold 3,500 shares of Revvity stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $117.86, for a total value of $412,510.00. Following the transaction, the insider now owns 33,400 shares of the company’s stock, valued at approximately $3,936,524. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Tajinder S. Vohra sold 2,154 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $121.73, for a total value of $262,206.42. Following the sale, the insider now owns 19,652 shares in the company, valued at approximately $2,392,237.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,807 shares of company stock worth $937,576. 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.