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 EPS guidance of 4.700-4.800 for the period, compared to the consensus EPS estimate of 4.630. 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 $4.70-4.80 EPS.

Revvity Price Performance

RVTY opened at $125.61 on Thursday. The company has a fifty day moving average price of $109.63 and a two-hundred day moving average price of $106.82. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 2.27. The firm has a market capitalization of $15.50 billion, a PE ratio of 103.81, a P/E/G ratio of 3.01 and a beta of 1.05. Revvity has a 52 week low of $79.50 and a 52 week high of $128.15.

Revvity (NYSE:RVTY) last posted its earnings results on Monday, July 29th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.10. The company had revenue of $691.70 million during the quarter, compared to analyst estimates of $690.33 million. Revvity had a return on equity of 7.34% and a net margin of 6.26%. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.21 EPS. As a group, analysts anticipate that Revvity will post 4.76 earnings per share for the current year.

Revvity Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 18th will be issued a $0.07 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.28 annualized dividend and a dividend yield of 0.22%. Revvity’s dividend payout ratio (DPR) is currently 23.14%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RVTY. Leerink Partnrs raised shares of Revvity to a strong-buy rating in a research note on Monday, July 8th. TD Cowen increased their price objective on Revvity from $130.00 to $141.00 and gave the stock a buy rating in a report on Tuesday. Jefferies Financial Group boosted their target price on Revvity from $115.00 to $125.00 and gave the company a hold rating in a research note on Monday. SVB Leerink initiated coverage on Revvity in a research report on Monday, July 8th. They set an outperform rating and a $125.00 price target for the company. Finally, Citigroup lifted their price objective on shares of Revvity from $135.00 to $145.00 and gave the company a buy rating in a report on Tuesday. Eight analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $123.81.

Insider Activity at Revvity

In other news, insider Joel S. Goldberg sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $110.46, for a total transaction of $441,840.00. Following the transaction, the insider now directly owns 36,900 shares of the company’s stock, valued at $4,075,974. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.