Revvity, Inc. (NYSE:RVTY) to Post Q2 2024 Earnings of $1.15 Per Share, Leerink Partnrs Forecasts

Revvity, Inc. (NYSE:RVTY) – Investment analysts at Leerink Partnrs issued their Q2 2024 earnings per share estimates for shares of Revvity in a research report issued to clients and investors on Monday, July 8th. Leerink Partnrs analyst P. Souda forecasts that the company will post earnings of $1.15 per share for the quarter. Leerink Partnrs currently has a “Strong-Buy” rating on the stock. The consensus estimate for Revvity’s current full-year earnings is $4.65 per share. Leerink Partnrs also issued estimates for Revvity’s Q3 2024 earnings at $1.19 EPS, Q4 2024 earnings at $1.33 EPS, FY2024 earnings at $4.65 EPS, Q1 2025 earnings at $1.10 EPS, Q2 2025 earnings at $1.28 EPS, Q3 2025 earnings at $1.35 EPS, Q4 2025 earnings at $1.52 EPS, FY2025 earnings at $5.25 EPS, Q1 2026 earnings at $1.24 EPS, Q2 2026 earnings at $1.44 EPS and FY2026 earnings at $5.84 EPS.

Several other equities research analysts have also issued reports on the stock. TD Cowen raised their price target on shares of Revvity from $123.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. SVB Leerink initiated coverage on Revvity in a research report on Monday. They set an “outperform” rating and a $125.00 target price on the stock. Barclays cut their price objective on shares of Revvity from $116.00 to $115.00 and set an “equal weight” rating for the company in a research report on Friday, June 28th. Robert W. Baird upped their target price on Revvity from $126.00 to $127.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 30th. Finally, Jefferies Financial Group began coverage on shares of Revvity in a report on Monday, June 3rd. They set a “hold” rating and a $115.00 price objective for the company. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Revvity currently has an average rating of “Moderate Buy” and an average price target of $119.14.

Revvity Stock Performance

Shares of RVTY stock opened at $109.83 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 2.23. The firm has a market cap of $13.55 billion, a price-to-earnings ratio of 90.75, a P/E/G ratio of 2.72 and a beta of 1.05. Revvity has a 52 week low of $79.50 and a 52 week high of $131.96. The firm’s 50-day simple moving average is $107.32 and its two-hundred day simple moving average is $106.33.

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

Hedge Funds Weigh In On Revvity

A number of hedge funds and other institutional investors have recently made changes to their positions in RVTY. Vanguard Group Inc. bought a new stake in shares of Revvity during the 3rd quarter valued at $1,579,487,000. Capital Research Global Investors bought a new stake in Revvity in the 4th quarter worth approximately $838,080,000. Janus Henderson Group PLC increased its position in Revvity by 3.9% during the first quarter. Janus Henderson Group PLC now owns 5,664,528 shares of the company’s stock valued at $594,769,000 after acquiring an additional 210,100 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Revvity by 18.5% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,126,271 shares of the company’s stock worth $223,258,000 after purchasing an additional 332,632 shares during the period. Finally, Norges Bank purchased a new position in shares of Revvity during the 4th quarter worth $129,483,000. Institutional investors own 86.65% of the company’s stock.

Insider Buying and Selling

In other Revvity news, insider Joel S. Goldberg sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $110.46, for a total transaction of $441,840.00. Following the completion of the transaction, the insider now owns 36,900 shares of the company’s stock, 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 owned by insiders.

Revvity Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 19th will be issued 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 0.25%. Revvity’s dividend payout ratio is currently 23.14%.

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.