Revvity (NYSE:RVTY) Releases FY24 Earnings Guidance

Revvity (NYSE:RVTY) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of 4.55-4.75 for the period, compared to the consensus estimate of $4.65. The company issued revenue guidance of $2.76-2.82 billion, compared to the consensus revenue estimate of $2.81 billion.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. KeyCorp boosted their target price on shares of Revvity from $110.00 to $126.00 and gave the company an overweight rating in a research note on Friday, February 2nd. TD Cowen boosted their price target on shares of Revvity from $123.00 to $130.00 and gave the company a buy rating in a research report on Tuesday. Stifel Nicolaus raised their price objective on shares of Revvity from $95.00 to $110.00 and gave the stock a hold rating in a report on Friday, February 2nd. UBS Group cut shares of Revvity from a buy rating to a neutral rating and lifted their target price for the company from $105.00 to $125.00 in a research note on Tuesday, January 16th. Finally, Robert W. Baird increased their price target on Revvity from $126.00 to $127.00 and gave the stock an outperform rating in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $118.17.

Revvity Price Performance

Revvity stock opened at $102.60 on Thursday. The company has a current ratio of 2.23, a quick ratio of 1.77 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $12.67 billion, a P/E ratio of 84.79, a PEG ratio of 2.67 and a beta of 1.09. The business has a 50-day moving average of $104.70 and a 200-day moving average of $101.32. Revvity has a 1 year low of $79.50 and a 1 year high of $132.54.

Revvity (NYSE:RVTY) last announced its quarterly earnings results on Monday, April 29th. The company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.04. Revvity had a net margin of 5.49% and a return on equity of 7.37%. The company had revenue of $649.90 million for the quarter, compared to analysts’ expectations of $646.83 million. During the same period last year, the firm posted $1.01 earnings per share. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. On average, equities analysts anticipate that Revvity will post 4.65 EPS for the current year.

Revvity Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 19th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.27%. The ex-dividend date is Friday, July 19th. Revvity’s dividend payout ratio is 23.14%.

Insider Buying and Selling

In related news, insider Prahlad R. Singh sold 21,217 shares of the stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $104.28, for a total transaction of $2,212,508.76. Following the completion of the transaction, the insider now directly owns 92,801 shares in the company, valued at $9,677,288.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.60% of the company’s stock.

About Revvity

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.