Revvity (NYSE:RVTY) Releases FY24 Earnings Guidance

Revvity (NYSE:RVTY) updated its FY24 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 4.55-4.75 for the period, compared to the consensus 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.

Revvity Stock Performance

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

Revvity (NYSE:RVTY) last issued its earnings results on Monday, April 29th. The company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates 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 25.20% and a return on equity of 7.41%. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period last year, the firm posted $1.01 earnings per share. Equities research analysts anticipate that Revvity will post 4.65 EPS for the current fiscal year.

Revvity Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have recently commented on RVTY shares. UBS Group downgraded Revvity from a buy rating to a neutral rating and upped their target price for the company from $105.00 to $125.00 in a report on Tuesday, January 16th. KeyCorp raised 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. Evercore ISI upgraded shares of Revvity from an in-line rating to an outperform rating and boosted their price target for the company from $88.00 to $125.00 in a report on Thursday, January 4th. Raymond James raised their price objective on shares of Revvity from $106.00 to $127.00 and gave the stock an outperform rating in a research note on Friday, February 2nd. Finally, Barclays boosted their target price 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 investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $118.91.

Insiders Place Their Bets

In other Revvity news, insider Prahlad R. Singh sold 21,217 shares of the 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 directly owns 92,801 shares of the company’s stock, valued at $9,677,288.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.60% of the company’s stock.

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.