FY2024 EPS Estimates for Revvity Raised by Leerink Partnrs

Revvity, Inc. (NYSE:RVTY) – Stock analysts at Leerink Partnrs upped their FY2024 earnings per share (EPS) estimates for Revvity in a note issued to investors on Monday, November 4th. Leerink Partnrs analyst P. Souda now forecasts that the company will post earnings per share of $4.85 for the year, up from their previous forecast of $4.74. The consensus estimate for Revvity’s current full-year earnings is $4.75 per share. Leerink Partnrs also issued estimates for Revvity’s Q4 2024 earnings at $1.38 EPS, Q2 2025 earnings at $1.31 EPS, Q3 2025 earnings at $1.28 EPS, Q4 2025 earnings at $1.52 EPS, FY2025 earnings at $5.25 EPS and FY2026 earnings at $5.94 EPS.

Revvity (NYSE:RVTY) last issued its earnings results 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. Revvity had a return on equity of 7.42% and a net margin of 9.34%. The firm had revenue of $684.10 million for the quarter, compared to analyst estimates of $679.66 million. During the same period last year, the company earned $1.18 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis.

Several other brokerages have also weighed in on RVTY. Wells Fargo & Company initiated coverage on Revvity in a research report on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 target price on the stock. Raymond James raised their price target on Revvity from $144.00 to $146.00 and gave the company an “outperform” rating in a report on Tuesday. Sanford C. Bernstein lowered their price target on Revvity from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Tuesday. Bank of America raised their price target on Revvity from $118.00 to $127.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. Finally, Citigroup raised their price target on Revvity from $135.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $132.07.

Revvity Price Performance

Shares of NYSE RVTY opened at $124.00 on Wednesday. Revvity has a 1-year low of $82.17 and a 1-year high of $129.50. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.56 and a quick ratio of 1.98. The business’s fifty day moving average price is $121.64 and its two-hundred day moving average price is $114.61. The firm has a market capitalization of $15.29 billion, a PE ratio of 59.90, a P/E/G ratio of 3.44 and a beta of 1.05.

Revvity announced that its Board of Directors has approved a share buyback program on Monday, November 4th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase up to 6.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Revvity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be issued 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 Friday, January 17th. Revvity’s payout ratio is currently 13.53%.

Insider Buying and Selling

In related news, insider Tajinder S. Vohra sold 2,153 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $122.09, for a total value of $262,859.77. Following the completion of the transaction, the insider now owns 23,960 shares in the company, valued at $2,925,276.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Tajinder S. Vohra sold 2,153 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $122.09, for a total value of $262,859.77. Following the completion of the transaction, the insider now owns 23,960 shares in the company, valued at $2,925,276.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Tajinder S. Vohra sold 2,154 shares of the stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total value of $262,206.42. Following the completion of the transaction, the insider now owns 19,652 shares of the company’s stock, valued at $2,392,237.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Revvity

Institutional investors have recently bought and sold shares of the business. UniSuper Management Pty Ltd boosted its position in Revvity by 505.2% during the 1st quarter. UniSuper Management Pty Ltd now owns 9,864 shares of the company’s stock worth $1,036,000 after acquiring an additional 8,234 shares during the period. Entropy Technologies LP acquired a new stake in Revvity during the 1st quarter worth about $480,000. Jane Street Group LLC boosted its position in Revvity by 516.4% during the 1st quarter. Jane Street Group LLC now owns 453,343 shares of the company’s stock worth $47,601,000 after acquiring an additional 379,802 shares during the period. Quadrature Capital Ltd acquired a new stake in Revvity during the 1st quarter worth about $1,267,000. Finally, Assenagon Asset Management S.A. boosted its position in Revvity by 3,171.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 87,180 shares of the company’s stock worth $9,142,000 after acquiring an additional 84,515 shares during the period. 86.65% of the stock is currently owned by institutional investors and hedge funds.

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.