Revvity (NYSE:RVTY) Updates FY24 Earnings Guidance

Revvity (NYSE:RVTY) updated its FY24 earnings guidance on Monday. The company provided earnings per share guidance of 4.55-4.75 for the period, compared to the consensus earnings per share estimate of $4.65. The company issued revenue guidance of $2.76-2.82 billion, compared to the consensus revenue estimate of $2.81 billion.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on RVTY shares. Raymond James upped their price target on Revvity from $106.00 to $127.00 and gave the stock an outperform rating in a research note on Friday, February 2nd. Evercore ISI raised Revvity from an in-line rating to an outperform rating and increased their target price for the stock from $88.00 to $125.00 in a research note on Thursday, January 4th. UBS Group lowered Revvity from a buy rating to a neutral rating and lifted their price target for the stock from $105.00 to $125.00 in a research report on Tuesday, January 16th. TD Cowen upped their price target on shares of Revvity from $123.00 to $130.00 and gave the stock a buy rating in a research note on Tuesday. Finally, Barclays raised their price objective 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 research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $118.17.

Revvity Price Performance

RVTY opened at $102.60 on Thursday. The company’s 50-day simple moving average is $104.70 and its two-hundred day simple moving average is $101.32. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.77 and a current ratio of 2.23. The stock has a market capitalization of $12.67 billion, a P/E ratio of 84.79, a P/E/G ratio of 2.67 and a beta of 1.09. Revvity has a 52-week low of $79.50 and a 52-week high of $132.54.

Revvity (NYSE:RVTY) last released its quarterly earnings data on Monday, April 29th. The company reported $0.98 earnings per share 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 analysts’ expectations of $646.83 million. Revvity had a net margin of 5.49% and a return on equity of 7.37%. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.01 earnings per share. As a group, analysts predict that Revvity will post 4.65 EPS for the current year.

Revvity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 19th will be given a $0.07 dividend. The ex-dividend date is Friday, July 19th. This represents a $0.28 annualized dividend and a yield of 0.27%. Revvity’s payout ratio is 23.14%.

Insider Buying and Selling

In other news, insider Prahlad R. Singh sold 21,217 shares of Revvity stock in a transaction on Monday, February 5th. The shares were sold at an average price of $104.28, for a total transaction of $2,212,508.76. Following the transaction, the insider now owns 92,801 shares in the company, valued at approximately $9,677,288.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.60% of the stock is currently owned by 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.