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

Key Points

• Revvity reported quarterly earnings of $1.18 per share, exceeding expectations by $0.04, with a net margin of 10.35% and a return on equity of 7.73%.
• The company announced a quarterly dividend of $0.07, to be paid on November 7th, which translates to an annual yield of 0.27% with a payout ratio of 11.91%.
• Multiple hedge funds increased their stakes in Revvity, reflecting strong institutional investor interest, with 86.65% of the company's stock held by these investors.

Revvity (NYSE:RVTY - Get Free Report) announced its quarterly earnings data on Monday. The company reported $1.18 earnings per share for the quarter, beating analysts' consensus estimates of $1.14 by $0.04, Zacks reports. The company had revenue of $720.28 million for the quarter, compared to analysts' expectations of $711.26 million. Revvity had a return on equity of 7.66% and a net margin of 10.19%. Revvity's revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period last year, the firm posted $1.22 EPS. Revvity updated its FY 2025 guidance to 4.850-4.950 EPS.

Revvity Trading Down 2.0%

RVTY traded down $1.81 during trading on Thursday, hitting $89.04. 714,261 shares of the stock were exchanged, compared to its average volume of 1,182,417. The firm has a 50 day simple moving average of $95.59 and a 200 day simple moving average of $102.99. The firm has a market cap of $10.49 billion, a price-to-earnings ratio of 37.73, a P/E/G ratio of 2.34 and a beta of 0.98. Revvity has a 1 year low of $87.70 and a 1 year high of $129.50. The company has a debt-to-equity ratio of 0.43, a quick ratio of 2.99 and a current ratio of 3.33.

Revvity Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 7th. Shareholders of record on Friday, October 17th will be issued a dividend of $0.07 per share. The ex-dividend date is Friday, October 17th. This represents a $0.28 annualized dividend and a yield of 0.31%. Revvity's payout ratio is currently 11.86%.

Institutional Trading of Revvity

Several hedge funds and other institutional investors have recently bought and sold shares of RVTY. Goldman Sachs Group Inc. boosted its position in Revvity by 45.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 607,104 shares of the company's stock valued at $64,232,000 after acquiring an additional 189,871 shares in the last quarter. Millennium Management LLC boosted its position in shares of Revvity by 102.0% in the 1st quarter. Millennium Management LLC now owns 69,401 shares of the company's stock worth $7,343,000 after purchasing an additional 35,048 shares in the last quarter. Focus Partners Wealth boosted its position in shares of Revvity by 13.0% in the 1st quarter. Focus Partners Wealth now owns 7,028 shares of the company's stock worth $744,000 after purchasing an additional 811 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Revvity by 6.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,776 shares of the company's stock worth $1,246,000 after purchasing an additional 744 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Revvity by 5.2% in the 1st quarter. AQR Capital Management LLC now owns 8,449 shares of the company's stock worth $883,000 after purchasing an additional 420 shares in the last quarter. Institutional investors own 86.65% of the company's stock.

Analyst Upgrades and Downgrades

RVTY has been the topic of a number of research reports. Raymond James Financial reissued an "outperform" rating and set a $115.00 price objective (down from $120.00) on shares of Revvity in a report on Tuesday. Wells Fargo & Company reduced their price target on Revvity from $130.00 to $102.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. JPMorgan Chase & Co. reduced their price target on Revvity from $120.00 to $100.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Robert W. Baird reduced their price target on Revvity from $127.00 to $125.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 29th. Finally, Bank of America reduced their price target on Revvity from $116.00 to $110.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Revvity currently has an average rating of "Moderate Buy" and a consensus target price of $120.07.

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.