Revvity (NYSE:RVTY) Issues FY 2024 Earnings Guidance

Revvity (NYSE:RVTY) updated its FY 2024 earnings guidance on Monday. 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.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RVTY. Robert W. Baird boosted their target price on shares of Revvity from $126.00 to $127.00 and gave the company an outperform rating in a research note on Tuesday, April 30th. Leerink Partnrs raised shares of Revvity to a strong-buy rating in a research report on Monday, July 8th. SVB Leerink initiated coverage on shares of Revvity in a research report on Monday, July 8th. They issued an outperform rating and a $125.00 price target on the stock. TD Cowen boosted their price target on shares of Revvity from $123.00 to $130.00 and gave the company a buy rating in a research report on Tuesday, April 30th. Finally, Barclays lowered their price target on shares of Revvity from $116.00 to $115.00 and set an equal weight rating on the stock in a research report on Friday, June 28th. Seven analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $119.14.

Revvity Stock Performance

Revvity stock opened at $115.15 on Monday. The firm’s 50 day simple moving average is $108.82 and its 200 day simple moving average is $106.46. The company has a current ratio of 2.23, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $14.21 billion, a PE ratio of 95.17, a price-to-earnings-growth ratio of 3.00 and a beta of 1.05. Revvity has a 1-year low of $79.50 and a 1-year high of $131.96.

Revvity (NYSE:RVTY) last posted its earnings results on Monday, July 29th. The company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.10. The business had revenue of $691.70 million for the quarter, compared to analyst estimates of $690.33 million. Revvity had a net margin of 5.49% and a return on equity of 7.37%. Revvity’s revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.21 EPS. As a group, analysts expect that Revvity will post 4.64 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 18th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date is Friday, October 18th. Revvity’s payout ratio is 23.14%.

Insider Transactions at Revvity

In other news, insider Joel S. Goldberg sold 4,000 shares of the stock in a transaction on Friday, June 7th. The shares were sold at an average price of $110.46, for a total value of $441,840.00. Following the transaction, the insider now owns 36,900 shares of the company’s stock, valued at approximately $4,075,974. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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.