Revvity (NYSE:RVTY) Updates FY24 Earnings Guidance

Revvity (NYSE:RVTY - Get Free Report) issued an update on its FY24 earnings guidance on Monday morning. The company provided EPS guidance of 4.55-4.75 for the period, compared to the consensus EPS 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.

Revvity Stock Up 3.5 %

Shares of NYSE RVTY traded up $3.51 during mid-day trading on Monday, reaching $105.02. 942,994 shares of the company were exchanged, compared to its average volume of 849,896. The company has a quick ratio of 1.77, a current ratio of 2.07 and a debt-to-equity ratio of 0.40. The stock has a market cap of $12.97 billion, a price-to-earnings ratio of 19.09, a P/E/G ratio of 2.64 and a beta of 1.09. Revvity has a 1 year low of $79.50 and a 1 year high of $132.54. The firm has a 50-day moving average of $104.71 and a 200 day moving average of $101.34.

Revvity (NYSE:RVTY - Get Free Report) last issued its quarterly earnings data on Monday, April 29th. The company reported $0.98 earnings per share for the quarter, topping analysts' consensus estimates of $0.94 by $0.04. The firm had revenue of $649.90 million during the quarter, compared to analysts' expectations of $646.83 million. Revvity had a return on equity of 7.41% and a net margin of 25.20%. The firm's quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.01 EPS. On average, research analysts expect that Revvity will post 4.65 earnings per share for the current year.

Revvity Dividend Announcement

The firm 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 dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.27%. The ex-dividend date is Friday, July 19th. Revvity's dividend payout ratio is currently 5.09%.

Analyst Ratings Changes

Several research analysts recently issued reports on RVTY shares. KeyCorp upped their target price on Revvity from $110.00 to $126.00 and gave the company an overweight rating in a research report on Friday, February 2nd. Raymond James upped their target price on Revvity from $106.00 to $127.00 and gave the company an outperform rating in a research report on Friday, February 2nd. Evercore ISI raised Revvity from an in-line rating to an outperform rating and upped their target price for the company from $88.00 to $125.00 in a research report on Thursday, January 4th. Stifel Nicolaus upped their target price on Revvity from $95.00 to $110.00 and gave the company a hold rating in a research report on Friday, February 2nd. Finally, UBS Group lowered Revvity from a buy rating to a neutral rating and increased their price objective for the company from $105.00 to $125.00 in a report on Tuesday, January 16th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $118.91.

Insider Buying and Selling

In related news, insider Prahlad R. Singh sold 21,217 shares of the firm's stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $104.28, for a total transaction of $2,212,508.76. Following the sale, the insider now directly owns 92,801 shares of the company's stock, valued at $9,677,288.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.60% of the stock is owned by corporate insiders.

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.