Revvity (NYSE:RVTY) Releases Earnings Results, Beats Estimates By $0.04 EPS

Revvity (NYSE:RVTY - Get Free Report) posted its quarterly earnings data on Monday. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.94 by $0.04, RTT News reports. Revvity had a return on equity of 7.41% and a net margin of 25.20%. The business had revenue of $649.90 million for the quarter, compared to the consensus estimate of $646.83 million. During the same quarter in the prior year, the business earned $1.01 earnings per share. Revvity's revenue for the quarter was down 3.7% on a year-over-year basis. Revvity updated its FY24 guidance to 4.55-4.75 EPS.

Revvity Price Performance

NYSE:RVTY traded up $3.51 during midday trading on Monday, hitting $105.02. The company had a trading volume of 942,994 shares, compared to its average volume of 849,896. Revvity has a 52-week low of $79.50 and a 52-week high of $132.54. The stock's fifty day moving average price is $104.71 and its 200-day moving average price is $101.34. The company has a market capitalization of $12.97 billion, a PE ratio of 19.09, a P/E/G ratio of 2.64 and a beta of 1.09. 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 Announces Dividend

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

Insider Buying and Selling

In related news, insider Prahlad R. Singh sold 21,217 shares of the company's stock in a transaction on 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 transaction, the insider now directly owns 92,801 shares in the company, valued at $9,677,288.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Stifel Nicolaus upped their price objective on Revvity from $95.00 to $110.00 and gave the company a "hold" rating in a research note on Friday, February 2nd. KeyCorp boosted their target price on shares of Revvity from $110.00 to $126.00 and gave the company an "overweight" rating in a report on Friday, February 2nd. Raymond James boosted their target price on shares of Revvity from $106.00 to $127.00 and gave the company an "outperform" rating in a report on Friday, February 2nd. Barclays boosted their target price on shares of Revvity from $92.00 to $105.00 and gave the company an "equal weight" rating in a report on Thursday, January 25th. Finally, UBS Group cut shares of Revvity from a "buy" rating to a "neutral" rating and boosted 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $118.91.

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.