Revvity (NYSE:RVTY) Releases FY 2024 Earnings Guidance

Revvity (NYSE:RVTY) updated its FY 2024 earnings guidance on Monday. The company provided EPS guidance of 4.830-4.870 for the period, compared to the consensus EPS estimate of 4.750. 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 $4.83-4.87 EPS.

Revvity Price Performance

Shares of RVTY opened at $124.82 on Tuesday. The business’s 50-day moving average is $121.46 and its 200-day moving average is $114.29. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.98. The company has a market capitalization of $15.40 billion, a price-to-earnings ratio of 90.45, a P/E/G ratio of 3.34 and a beta of 1.05. Revvity has a fifty-two week low of $82.17 and a fifty-two week high of $128.83.

Revvity (NYSE:RVTY) last released its quarterly earnings data on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.15. The firm had revenue of $684.10 million for the quarter, compared to analyst estimates of $679.66 million. Revvity had a net margin of 6.26% and a return on equity of 7.34%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.18 EPS. Equities research analysts expect that Revvity will post 4.75 EPS for the current fiscal year.

Revvity Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, January 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.22%. Revvity’s payout ratio is 20.29%.

Revvity declared that its Board of Directors has authorized a stock repurchase program on Monday, November 4th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 6.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages have recently issued reports on RVTY. Bank of America lifted their price target on Revvity from $118.00 to $127.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. lifted their price objective on shares of Revvity from $105.00 to $120.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Robert W. Baird increased their price objective on Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a report on Tuesday. Jefferies Financial Group upped their target price on Revvity from $115.00 to $125.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Finally, TD Cowen raised their target price on shares of Revvity from $130.00 to $141.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Seven research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $129.57.

Insider Buying and Selling

In other news, insider Joel S. Goldberg sold 3,500 shares of the 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 completion of the transaction, the insider now owns 33,400 shares in the company, valued at approximately $3,936,524. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Revvity news, insider Tajinder S. Vohra sold 2,154 shares of the company’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $121.73, for a total value of $262,206.42. Following the sale, the insider now directly owns 19,652 shares in the company, valued at $2,392,237.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 transaction, the insider now directly owns 33,400 shares of the company’s stock, valued at approximately $3,936,524. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,807 shares of company stock valued at $937,576 over the last ninety days. 0.60% of the stock is owned by company insiders.

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.