Revvity (NYSE:RVTY) Issues FY24 Earnings Guidance

Revvity (NYSE:RVTY) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $4.70-4.80 for the period, compared to the consensus estimate of $4.63. The company issued revenue guidance of $2.77-2.79 billion, compared to the consensus revenue estimate of $2.79 billion. Revvity also updated its FY 2024 guidance to 4.700-4.800 EPS.

Revvity Price Performance

Revvity stock opened at $125.61 on Thursday. The firm has a market cap of $15.50 billion, a P/E ratio of 103.81, a P/E/G ratio of 3.01 and a beta of 1.05. The stock’s 50 day moving average is $109.63 and its 200 day moving average is $106.82. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.92. Revvity has a one year low of $79.50 and a one year high of $128.15.

Revvity (NYSE:RVTY) last issued its quarterly earnings results on Monday, July 29th. The company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.10. Revvity had a net margin of 6.26% and a return on equity of 7.34%. The firm had revenue of $691.70 million for the quarter, compared to the consensus estimate of $690.33 million. During the same quarter in the previous year, the company earned $1.21 EPS. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. As a group, research analysts expect that Revvity will post 4.76 EPS for the current year.

Revvity Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 18th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.22%. The ex-dividend date of this dividend is Friday, October 18th. Revvity’s dividend payout ratio (DPR) is presently 23.14%.

Analyst Ratings Changes

RVTY has been the subject of several recent analyst reports. Citigroup raised their target price on Revvity from $135.00 to $145.00 and gave the stock a buy rating in a research note on Tuesday. 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. Jefferies Financial Group boosted their target price on shares of Revvity from $115.00 to $125.00 and gave the company a hold rating in a research report on Monday. SVB Leerink assumed coverage on shares of Revvity in a report on Monday, July 8th. They issued an outperform rating and a $125.00 price target for the company. Finally, Bank of America upped their price objective on shares of Revvity from $118.00 to $127.00 and gave the company a neutral rating in a report on Tuesday. Eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $123.81.

Insider Buying and Selling

In other news, insider Joel S. Goldberg sold 4,000 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $110.46, for a total value of $441,840.00. Following the completion of the sale, the insider now owns 36,900 shares in the company, valued at $4,075,974. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.60% of the stock is currently owned by corporate insiders.

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.