Revvity (NYSE:RVTY) Issues 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.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on RVTY shares. 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 report on Friday, February 2nd. KeyCorp increased their price objective on Revvity from $110.00 to $126.00 and gave the stock an overweight rating in a research report on Friday, February 2nd. Barclays upped their target price on shares of Revvity from $92.00 to $105.00 and gave the stock an equal weight rating in a research note on Thursday, January 25th. Stifel Nicolaus boosted their price target on shares of Revvity from $95.00 to $110.00 and gave the stock a hold rating in a research note on Friday, February 2nd. Finally, UBS Group lowered Revvity from a buy rating to a neutral rating and lifted their target price for the company from $105.00 to $125.00 in a report on Tuesday, January 16th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Revvity has an average rating of Moderate Buy and a consensus price target of $118.91.

Revvity Stock Performance

Shares of RVTY opened at $105.02 on Tuesday. The company has a quick ratio of 1.77, a current ratio of 2.07 and a debt-to-equity ratio of 0.40. Revvity has a 52-week low of $79.50 and a 52-week high of $132.54. The stock has a 50 day moving average price of $104.71 and a 200 day moving average price of $101.34. The company has a market capitalization of $12.97 billion, a price-to-earnings ratio of 19.09, a price-to-earnings-growth ratio of 2.64 and a beta of 1.09.

Revvity (NYSE:RVTY) last announced its quarterly earnings results on Monday, April 29th. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.94 by $0.04. The firm had revenue of $649.90 million for the quarter, compared to analyst estimates of $646.83 million. Revvity had a net margin of 25.20% and a return on equity of 7.41%. Revvity’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period last year, the business earned $1.01 EPS. Research analysts predict that Revvity will post 4.65 EPS for the current fiscal year.

Revvity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 19th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, July 19th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.27%. Revvity’s dividend payout ratio (DPR) is presently 5.09%.

Insider Activity

In other news, insider Prahlad R. Singh sold 21,217 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $104.28, for a total value of $2,212,508.76. Following the completion of the sale, the insider now directly owns 92,801 shares of the company’s stock, valued at $9,677,288.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.60% of the company’s stock.

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.