Revvity (NYSE:RVTY) Releases FY24 Earnings Guidance

Revvity (NYSE:RVTY) issued an update on its FY24 earnings guidance on Monday morning. The company provided EPS guidance of $4.83-4.87 for the period, compared to the consensus EPS estimate of $4.75. The company issued revenue guidance of $2.75-2.77 billion, compared to the consensus revenue estimate of $2.77 billion. Revvity also updated its FY 2024 guidance to 4.830-4.870 EPS.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RVTY. Robert W. Baird lifted their target price on Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a research report on Tuesday. Citigroup lifted their price objective on shares of Revvity from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. raised their target price on Revvity from $105.00 to $120.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th. Jefferies Financial Group raised their target price on shares of Revvity from $115.00 to $125.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Finally, Barclays raised Revvity from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $125.00 to $140.00 in a research note on Tuesday, October 15th. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $129.57.

Revvity Price Performance

Shares of RVTY stock traded down $1.96 during trading hours on Tuesday, hitting $122.86. The company had a trading volume of 93,783 shares, compared to its average volume of 821,733. Revvity has a 12 month low of $82.17 and a 12 month high of $128.83. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.98 and a current ratio of 2.27. The firm’s fifty day moving average is $121.46 and its 200 day moving average is $114.29. The firm has a market capitalization of $15.15 billion, a price-to-earnings ratio of 90.45, a PEG ratio of 3.34 and a beta of 1.05.

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

Revvity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.23%. Revvity’s payout ratio is currently 20.29%.

Revvity announced that its Board of Directors has approved a stock buyback plan on Monday, November 4th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to reacquire up to 6.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Revvity

In other Revvity news, insider Joel S. Goldberg sold 3,500 shares of Revvity stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $117.86, for a total value of $412,510.00. Following the sale, the insider now directly owns 33,400 shares in the company, valued at approximately $3,936,524. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Revvity news, insider Tajinder S. Vohra sold 2,153 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $122.09, for a total transaction of $262,859.77. Following the transaction, the insider now owns 23,960 shares in the company, valued at $2,925,276.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joel S. Goldberg sold 3,500 shares of the 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 sale, the insider now directly owns 33,400 shares in the company, valued at approximately $3,936,524. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,807 shares of company stock valued at $937,576 in the last ninety days. 0.60% of the stock is currently owned by corporate insiders.

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.