Revvity (NYSE:RVTY) Releases Earnings Results

Revvity (NYSE:RVTY) issued its earnings results on Monday. The company reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.15, Briefing.com reports. The company had revenue of $684.10 million for the quarter, compared to analysts’ expectations of $679.66 million. Revvity had a net margin of 6.26% and a return on equity of 7.34%. The firm’s revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.18 earnings per share. Revvity updated its FY 2024 guidance to 4.830-4.870 EPS and its FY24 guidance to $4.83-4.87 EPS.

Revvity Stock Performance

NYSE:RVTY opened at $125.96 on Wednesday. Revvity has a twelve month low of $82.17 and a twelve month high of $128.83. The company has a current ratio of 2.27, a quick ratio of 1.98 and a debt-to-equity ratio of 0.40. The company has a 50-day moving average of $121.53 and a 200-day moving average of $114.47. The firm has a market cap of $15.54 billion, a price-to-earnings ratio of 91.28, a price-to-earnings-growth ratio of 3.34 and a beta of 1.05.

Revvity Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.22%. Revvity’s dividend payout ratio (DPR) is 20.29%.

Insider Activity

In other news, insider Tajinder S. Vohra sold 2,154 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total transaction of $262,206.42. Following the completion of the transaction, the insider now owns 19,652 shares in the company, valued at approximately $2,392,237.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Revvity news, insider Tajinder S. Vohra sold 2,153 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $122.09, for a total transaction of $262,859.77. Following the completion of the sale, the insider now directly owns 23,960 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tajinder S. Vohra sold 2,154 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total transaction of $262,206.42. Following the sale, the insider now directly owns 19,652 shares of the company’s stock, valued at $2,392,237.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

RVTY has been the subject of several recent research reports. Sanford C. Bernstein lowered their price target on shares of Revvity from $150.00 to $145.00 and set an “outperform” rating for the company in a research report on Tuesday. Citigroup upped their price target on shares of Revvity from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Wells Fargo & Company initiated coverage on shares of Revvity in a research report on Tuesday, August 27th. They set an “equal weight” rating and a $130.00 price target for the company. Robert W. Baird upped their price target on shares of Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Barclays upgraded shares of Revvity from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $125.00 to $140.00 in a research report on Tuesday, October 15th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Revvity has a consensus rating of “Moderate Buy” and a consensus target price of $132.07.

Revvity declared that its board has authorized a stock buyback plan on Monday, November 4th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to buy up to 6.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

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.