Revvity (NYSE:RVTY) Posts Earnings Results, Beats Estimates By $0.10 EPS

Revvity (NYSE:RVTY) issued its earnings results on Monday. The company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.10, RTT News reports. The business had revenue of $691.70 million during the quarter, compared to analysts’ expectations of $690.33 million. Revvity had a return on equity of 7.35% and a net margin of 6.26%. Revvity’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.21 EPS. 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

Shares of RVTY traded down $1.55 during trading hours on Wednesday, hitting $125.61. 885,732 shares of the stock were exchanged, compared to its average volume of 882,099. The company has a market cap of $15.50 billion, a price-to-earnings ratio of 103.87, a price-to-earnings-growth ratio of 3.27 and a beta of 1.05. The stock’s 50-day moving average price is $109.37 and its two-hundred day moving average price is $106.68. Revvity has a 12-month low of $79.50 and a 12-month high of $128.15. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.92 and a current ratio of 2.23.

Revvity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 18th will be given a $0.07 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.22%. Revvity’s dividend payout ratio (DPR) is currently 23.14%.

Insiders Place Their Bets

In related news, insider Joel S. Goldberg sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $110.46, for a total transaction of $441,840.00. Following the sale, the insider now directly owns 36,900 shares in the company, valued at $4,075,974. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.60% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on RVTY shares. Leerink Partnrs raised Revvity to a “strong-buy” rating in a research note on Monday, July 8th. Barclays raised their price target on shares of Revvity from $115.00 to $125.00 and gave the company an “equal weight” rating in a research note on Tuesday. TD Cowen raised their price objective on Revvity from $130.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday. Citigroup boosted their target price on shares of Revvity from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, 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 report on Monday. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus 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.