Revvity (NYSE:RVTY) Announces Earnings Results

Revvity (NYSE:RVTY) announced its quarterly earnings results on Monday. The company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04, RTT News reports. Revvity had a net margin of 25.20% and a return on equity of 7.41%. The company had revenue of $649.90 million for the quarter, compared to the consensus estimate of $646.83 million. During the same period in the previous year, the firm posted $1.01 EPS. Revvity’s revenue for the quarter was down 3.7% compared to the same quarter last year. Revvity updated its FY24 guidance to 4.55-4.75 EPS.

Revvity Price Performance

RVTY stock opened at $105.02 on Tuesday. Revvity has a 12 month low of $79.50 and a 12 month high of $132.54. The company has a current ratio of 2.07, a quick ratio of 1.77 and a debt-to-equity ratio of 0.40. The company has a 50-day moving average price of $104.71 and a 200 day moving average price of $101.34. The stock has a market cap of $12.97 billion, a PE ratio of 19.09, a P/E/G ratio of 2.64 and a beta of 1.09.

Revvity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 19th will be paid a dividend of $0.07 per share. The ex-dividend date is Friday, July 19th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.27%. Revvity’s dividend payout ratio is presently 5.09%.

Insider Buying and Selling

In other Revvity news, insider Prahlad R. Singh sold 21,217 shares of the business’s stock in a transaction dated 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 completion of 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 filing with the SEC, which is available through this link. 0.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

RVTY has been the topic of a number of research reports. KeyCorp boosted their target price on shares of Revvity from $110.00 to $126.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Barclays boosted their target price on shares of Revvity from $92.00 to $105.00 and gave the stock an “equal weight” rating in a report on Thursday, January 25th. Raymond James boosted their target price on shares of Revvity from $106.00 to $127.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Stifel Nicolaus boosted their target price on shares of Revvity from $95.00 to $110.00 and gave the stock a “hold” rating in a report on Friday, February 2nd. Finally, UBS Group downgraded shares of Revvity from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $105.00 to $125.00 in a report on Tuesday, January 16th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Revvity presently has a consensus rating of “Moderate Buy” and an average price target of $118.91.

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.