Revvity, Inc. (NYSE:RVTY) Forecasted to Post Q2 2024 Earnings of $1.15 Per Share

Revvity, Inc. (NYSE:RVTY) – Equities research analysts at Zacks Research cut their Q2 2024 earnings estimates for shares of Revvity in a note issued to investors on Monday, May 20th. Zacks Research analyst I. Bandyopadhyay now expects that the company will post earnings of $1.15 per share for the quarter, down from their previous forecast of $1.16. The consensus estimate for Revvity’s current full-year earnings is $4.66 per share. Zacks Research also issued estimates for Revvity’s Q3 2024 earnings at $1.16 EPS, Q2 2025 earnings at $1.29 EPS, Q4 2025 earnings at $1.44 EPS and FY2025 earnings at $5.17 EPS.

Revvity (NYSE:RVTY) last issued its earnings results on Monday, April 29th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.94 by $0.04. The firm had revenue of $649.90 million during the quarter, compared to the consensus estimate of $646.83 million. Revvity had a net margin of 5.49% and a return on equity of 7.37%. The business’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.01 earnings per share.

RVTY has been the subject of several other reports. Raymond James upped their price objective on Revvity from $106.00 to $127.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Stifel Nicolaus upped their price target on Revvity from $95.00 to $110.00 and gave the stock a “hold” rating in a research report on Friday, February 2nd. KeyCorp lifted their price objective on shares of Revvity from $110.00 to $126.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Robert W. Baird increased their target price on shares of Revvity from $126.00 to $127.00 and gave the stock an “outperform” rating in a report on Tuesday, April 30th. Finally, Barclays lifted their price target on shares of Revvity from $92.00 to $105.00 and gave the company an “equal weight” rating in a research note on Thursday, January 25th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $118.17.

Revvity Stock Up 1.1 %

NYSE:RVTY opened at $113.23 on Wednesday. The stock has a market cap of $13.97 billion, a price-to-earnings ratio of 93.58, a PEG ratio of 2.91 and a beta of 1.09. 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 stock has a 50-day moving average price of $104.34 and a two-hundred day moving average price of $102.36. Revvity has a 1 year low of $79.50 and a 1 year high of $131.96.

Revvity Announces Dividend

The business 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 $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.25%. The ex-dividend date is Friday, July 19th. Revvity’s dividend payout ratio (DPR) is currently 23.14%.

Institutional Trading of Revvity

A number of institutional investors have recently modified their holdings of the stock. Czech National Bank boosted its position in shares of Revvity by 0.5% during the 1st quarter. Czech National Bank now owns 21,713 shares of the company’s stock worth $2,280,000 after acquiring an additional 99 shares in the last quarter. Gladius Capital Management LP boosted its holdings in shares of Revvity by 84.1% in the 3rd quarter. Gladius Capital Management LP now owns 232 shares of the company’s stock valued at $26,000 after purchasing an additional 106 shares in the last quarter. Inspire Investing LLC boosted its holdings in shares of Revvity by 2.9% in the 1st quarter. Inspire Investing LLC now owns 4,190 shares of the company’s stock valued at $440,000 after purchasing an additional 117 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Revvity by 3.6% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,899 shares of the company’s stock valued at $409,000 after purchasing an additional 135 shares during the last quarter. Finally, Empirical Finance LLC raised its holdings in shares of Revvity by 3.7% during the 1st quarter. Empirical Finance LLC now owns 4,225 shares of the company’s stock worth $444,000 after buying an additional 151 shares in the last quarter. 86.65% of the stock is currently owned by institutional investors.

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.