Revvity (NYSE:RVTY) Releases FY24 Earnings Guidance

Revvity (NYSE:RVTY) updated its FY24 earnings guidance on Monday. The company provided EPS guidance of 4.55-4.75 for the period, compared to the consensus EPS 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.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RVTY. Evercore ISI upgraded shares of Revvity from an in-line rating to an outperform rating and boosted their price objective for the stock from $88.00 to $125.00 in a report on Thursday, January 4th. Stifel Nicolaus boosted their price target on Revvity from $95.00 to $110.00 and gave the stock a hold rating in a research note on Friday, February 2nd. Barclays raised their price objective on Revvity from $92.00 to $105.00 and gave the company an equal weight rating in a research note on Thursday, January 25th. KeyCorp upped their target price on Revvity from $110.00 to $126.00 and gave the company an overweight rating in a research report on Friday, February 2nd. Finally, Raymond James increased their target price on Revvity from $106.00 to $127.00 and gave the company an outperform rating in a research note on Friday, February 2nd. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $118.91.

Revvity Stock Performance

RVTY stock opened at $101.51 on Monday. The stock’s 50 day simple moving average is $104.66 and its 200 day simple moving average is $101.34. The company has a current ratio of 2.07, a quick ratio of 1.77 and a debt-to-equity ratio of 0.40. Revvity has a 12-month low of $79.50 and a 12-month high of $132.54. The firm has a market cap of $12.54 billion, a P/E ratio of 18.46, a P/E/G ratio of 2.64 and a beta of 1.09.

Revvity (NYSE:RVTY) last released its quarterly earnings data on Monday, April 29th. The company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. The business had revenue of $649.90 million during the quarter, compared to analyst estimates of $646.83 million. Revvity had a return on equity of 7.41% and a net margin of 25.20%. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.01 EPS. As a group, equities research analysts predict that Revvity will post 4.65 EPS for the current year.

Revvity Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 19th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend is Friday, July 19th. Revvity’s dividend payout ratio (DPR) is 5.09%.

Insider Activity

In related news, insider Prahlad R. Singh sold 21,217 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $104.28, for a total transaction of $2,212,508.76. Following the transaction, the insider now owns 92,801 shares in the company, valued at $9,677,288.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate 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.