Revvity (NYSE:RVTY – Get Free Report) 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 net margin of 6.26% and a return on equity of 7.35%. The firm had revenue of $691.70 million during the quarter, compared to the consensus estimate of $690.33 million. During the same period in the prior year, the firm earned $1.21 EPS. The business’s 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 Price Performance
Revvity stock traded up $0.43 during trading hours on Wednesday, reaching $127.59. 286,999 shares of the stock were exchanged, compared to its average volume of 877,998. The stock has a 50 day moving average of $109.37 and a two-hundred day moving average of $106.68. Revvity has a twelve month low of $79.50 and a twelve month high of $128.15. The company has a current ratio of 2.23, a quick ratio of 1.92 and a debt-to-equity ratio of 0.40. The company has a market cap of $15.74 billion, a P/E ratio of 105.16, a price-to-earnings-growth ratio of 3.27 and a beta of 1.05.
Revvity Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 18th will be paid a $0.07 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.28 annualized dividend and a dividend yield of 0.22%. Revvity’s dividend payout ratio (DPR) is presently 23.14%.
Insider Activity
Wall Street Analysts Forecast Growth
RVTY has been the topic of several recent research reports. Robert W. Baird lifted their target price on shares of Revvity from $126.00 to $127.00 and gave the company an “outperform” rating in a research report on Tuesday, April 30th. SVB Leerink assumed coverage on shares of Revvity in a research note on Monday, July 8th. They issued an “outperform” rating and a $125.00 target price for the company. Jefferies Financial Group boosted their target price on shares of Revvity from $115.00 to $125.00 and gave the stock a “hold” rating in a research note on Monday. Barclays boosted their price target on shares of Revvity from $115.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Finally, Bank of America boosted their price objective on shares of Revvity from $118.00 to $127.00 and gave the company a “neutral” rating in a report on Tuesday. Eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $123.81.
Check Out Our Latest Report on RVTY
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.
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