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 guidance of 4.55-4.75 for the period, compared to the consensus earnings per share 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.

Revvity Trading Down 0.6 %

NYSE RVTY opened at $101.51 on Monday. The company has a quick ratio of 1.77, a current ratio of 2.07 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $12.54 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 2.64 and a beta of 1.09. The stock’s 50-day simple moving average is $104.66 and its two-hundred day simple moving average is $101.34. Revvity has a twelve month low of $79.50 and a twelve month high of $132.54.

Revvity (NYSE:RVTY) last issued its earnings results on Monday, April 29th. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.94 by $0.04. The company had revenue of $649.90 million for the quarter, compared to the consensus estimate of $646.83 million. Revvity had a net margin of 25.20% and a return on equity of 7.41%. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.01 earnings per share. Research analysts forecast that Revvity will post 4.65 EPS for the current fiscal year.

Revvity Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Raymond James boosted their price objective on shares of Revvity from $106.00 to $127.00 and gave the stock an outperform rating in a report on Friday, February 2nd. Evercore ISI upgraded Revvity from an in-line rating to an outperform rating and boosted their price target for the stock from $88.00 to $125.00 in a research note on Thursday, January 4th. UBS Group downgraded Revvity from a buy rating to a neutral rating and lifted their price objective for the stock from $105.00 to $125.00 in a report on Tuesday, January 16th. Barclays upped their target price on shares of Revvity from $92.00 to $105.00 and gave the company an equal weight rating in a research note on Thursday, January 25th. Finally, Stifel Nicolaus lifted their price target on shares of Revvity from $95.00 to $110.00 and gave the stock a hold rating in a research note on Friday, February 2nd. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $118.91.

Insider Transactions at Revvity

In other news, insider Prahlad R. Singh sold 21,217 shares of the company’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $104.28, for a total value of $2,212,508.76. Following the sale, the insider now directly owns 92,801 shares of the company’s stock, valued at approximately $9,677,288.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.