Revvity (NYSE:RVTY) Posts Earnings Results

Revvity (NYSE:RVTY) issued its quarterly earnings results on Monday. The company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.10, RTT News reports. Revvity had a return on equity of 7.35% and a net margin of 6.26%. The business had revenue of $691.70 million during the quarter, compared to the consensus estimate of $690.33 million. During the same period in the previous year, the business earned $1.21 EPS. The business’s quarterly revenue was down 2.5% on a year-over-year basis. Revvity updated its FY 2024 guidance to 4.700-4.800 EPS and its FY24 guidance to $4.70-4.80 EPS.

Revvity Trading Up 1.3 %

Shares of RVTY stock opened at $127.24 on Wednesday. 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 fifty-two week low of $79.50 and a fifty-two week high of $127.88. The stock has a market capitalization of $15.70 billion, a P/E ratio of 105.16, a P/E/G ratio of 3.27 and a beta of 1.05. The stock has a 50-day simple moving average of $109.37 and a 200 day simple moving average of $106.68.

Revvity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 18th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.28 annualized dividend and a yield of 0.22%. Revvity’s dividend payout ratio is currently 23.14%.

Insider Activity at Revvity

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on RVTY shares. Barclays boosted their price target on Revvity from $115.00 to $125.00 and gave the company an “equal weight” rating in a report on Tuesday. Leerink Partnrs upgraded Revvity to a “strong-buy” rating in a report on Monday, July 8th. TD Cowen boosted their price target on Revvity from $130.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday. SVB Leerink started coverage on Revvity in a report on Monday, July 8th. They issued an “outperform” rating and a $125.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their price target on Revvity from $105.00 to $120.00 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 issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $123.81.

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.