Zacks Research Weighs in on Revvity, Inc.’s Q2 2024 Earnings (NYSE:RVTY)

Revvity, Inc. (NYSE:RVTY) – Stock analysts at Zacks Research dropped their Q2 2024 earnings per share (EPS) estimates for Revvity in a research note issued on Monday, May 20th. Zacks Research analyst I. Bandyopadhyay now anticipates that the company will earn $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.

Several other research analysts have also recently issued reports on the stock. Stifel Nicolaus raised their target price on shares of Revvity from $95.00 to $110.00 and gave the stock a “hold” rating in a report on Friday, February 2nd. KeyCorp lifted their price objective on Revvity from $110.00 to $126.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Robert W. Baird raised their target price on Revvity from $126.00 to $127.00 and gave the stock an “outperform” rating in a report on Tuesday, April 30th. TD Cowen upped their price objective on Revvity from $123.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Finally, Raymond James boosted their target price on shares of Revvity from $106.00 to $127.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $118.17.

Revvity Stock Performance

RVTY opened at $111.89 on Wednesday. The firm’s 50-day moving average price is $104.57 and its 200-day moving average price is $102.50. The company has a market cap of $13.81 billion, a P/E ratio of 92.47, a price-to-earnings-growth ratio of 2.94 and a beta of 1.09. The company has a quick ratio of 1.92, a current ratio of 2.23 and a debt-to-equity ratio of 0.40. Revvity has a 52-week low of $79.50 and a 52-week high of $131.96.

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

Revvity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 19th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.25%. The ex-dividend date of this dividend is Friday, July 19th. Revvity’s dividend payout ratio (DPR) is presently 23.14%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RVTY. Czech National Bank boosted its stake in Revvity by 0.5% in the first quarter. Czech National Bank now owns 21,713 shares of the company’s stock valued at $2,280,000 after acquiring an additional 99 shares in the last quarter. Gladius Capital Management LP increased 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 acquiring an additional 106 shares during the period. Inspire Investing LLC raised its position in 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 during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in Revvity by 3.6% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,899 shares of the company’s stock worth $409,000 after purchasing an additional 135 shares during the period. Finally, Empirical Finance LLC grew its position in 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 purchasing an additional 151 shares during the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

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.