Revvity (RVTY) Expected to Announce Earnings on Friday

Revvity (NYSE:RVTY) is anticipated 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.Individual interested in listening to the company’s earnings conference call can do so using this link.

Revvity (NYSE:RVTY) last released its earnings results on Monday, November 4th. The company reported $1.28 EPS for the quarter, beating 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%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm 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 Performance

Revvity stock opened at $123.63 on Thursday. The firm has a fifty day simple moving average of $116.04 and a two-hundred day simple moving average of $118.50. The company has a quick ratio of 2.97, a current ratio of 3.56 and a debt-to-equity ratio of 0.40. Revvity has a twelve month low of $97.32 and a twelve month high of $129.50. The company has a market capitalization of $15.05 billion, a PE ratio of 59.73, a P/E/G ratio of 3.67 and a beta of 1.03.

Revvity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Friday, April 18th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date is Thursday, April 17th. Revvity’s dividend payout ratio (DPR) is presently 13.53%.

Revvity declared that its board has initiated a stock repurchase program on Monday, November 4th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 6.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other 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 in the company, valued at approximately $2,295,550.12. The trade was a 21.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

RVTY has been the subject of a number of analyst reports. Barclays dropped their price objective on Revvity from $140.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Leerink Partners increased their price target on shares of Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Raymond James decreased their price objective on shares of Revvity from $146.00 to $140.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 21st. Robert W. Baird increased their target price on shares of Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Finally, Bank of America upgraded Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price target on the stock in a report on Friday, December 13th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.00.

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.