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 earnings per share (EPS) guidance of 4.830-4.870 for the period, compared to the consensus 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 Trading Down 0.9 %

Shares of NYSE RVTY opened at $124.86 on Thursday. Revvity has a twelve month low of $82.17 and a twelve month high of $129.50. The firm has a market cap of $15.40 billion, a PE ratio of 60.32, a price-to-earnings-growth ratio of 3.44 and a beta of 1.05. The business has a fifty day simple moving average of $121.60 and a two-hundred day simple moving average of $114.54. The company has a quick ratio of 1.98, a current ratio of 3.56 and a debt-to-equity ratio of 0.40.

Revvity (NYSE:RVTY) last issued its earnings results on Monday, November 4th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.15. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The company had revenue of $684.10 million for the quarter, compared to analysts’ expectations of $679.66 million. During the same period in the prior year, the business earned $1.18 EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. Analysts expect that Revvity will post 4.75 earnings per share for the current fiscal year.

Revvity Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.28 annualized dividend and a yield of 0.22%. Revvity’s dividend payout ratio (DPR) is presently 13.53%.

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

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Raymond James boosted their target price on Revvity from $144.00 to $146.00 and gave the stock an “outperform” rating in a research note on Tuesday. Citigroup lifted their price objective on Revvity from $135.00 to $145.00 and gave the stock a “buy” rating in a report on Tuesday, July 30th. TD Cowen boosted their price target on Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a research report on Tuesday. Robert W. Baird boosted their price objective on Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Jefferies Financial Group lifted their price target on shares of Revvity from $115.00 to $125.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Seven equities research 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. According to data from MarketBeat, Revvity currently has a consensus rating of “Moderate Buy” and an average target price of $132.07.

Insider Activity at Revvity

In related news, insider Tajinder S. Vohra sold 2,153 shares of the firm’s stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $122.09, for a total value of $262,859.77. Following the sale, the insider now directly owns 23,960 shares of the company’s stock, valued at approximately $2,925,276.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Revvity news, insider Tajinder S. Vohra sold 2,153 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $122.09, for a total transaction of $262,859.77. Following the transaction, the insider now directly owns 23,960 shares of the company’s stock, valued at $2,925,276.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Tajinder S. Vohra sold 2,154 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total value of $262,206.42. Following the transaction, the insider now directly owns 19,652 shares in the company, valued at $2,392,237.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by corporate 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.