Revvity (RVTY) Expected to Announce Quarterly Earnings on Friday

Revvity (NYSE:RVTY) is projected to release its earnings data before the market opens on Friday, January 31st. Analysts expect Revvity to post earnings of $1.37 per share and revenue of $730.04 million for the quarter. Revvity has set its FY 2024 guidance at 4.830-4.870 EPS and its FY24 guidance at $4.83-4.87 EPS.Investors that wish to listen to the company’s conference call can do so using this link.

Revvity (NYSE:RVTY) last released its quarterly earnings data on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.15. The company had revenue of $684.10 million for the quarter, compared to analyst estimates of $679.66 million. Revvity had a net margin of 9.34% and a return on equity of 7.42%. Revvity’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.18 EPS. On average, analysts expect Revvity to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Revvity Stock Down 1.6 %

RVTY stock opened at $123.63 on Thursday. Revvity has a 1-year low of $97.32 and a 1-year high of $129.50. The business’s 50 day simple moving average is $116.04 and its 200 day simple moving average is $118.50. The company has a current ratio of 3.56, a quick ratio of 2.97 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $15.05 billion, a PE ratio of 59.73, a PEG ratio of 3.67 and a beta of 1.03.

Revvity Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 18th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend is Thursday, April 17th. Revvity’s dividend payout ratio is 13.53%.

Revvity announced that its Board of Directors has initiated a share buyback program on Monday, November 4th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages have issued reports on RVTY. Robert W. Baird upped their target price on Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Bank of America upgraded shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price objective for the company in a report on Friday, December 13th. TD Cowen boosted their target price on shares of Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Sanford C. Bernstein cut shares of Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price target for the company. in a research report on Friday, January 10th. Finally, Raymond James cut their price target on shares of Revvity from $146.00 to $140.00 and set an “outperform” rating on the stock in a report on Tuesday, January 21st. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.00.

Insider Activity

In other Revvity news, insider Tajinder S. Vohra sold 5,492 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total transaction of $641,520.52. Following the sale, the insider now owns 19,652 shares of the company’s stock, valued at $2,295,550.12. The trade was a 21.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.60% of the company’s stock.

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.