Zacks Research Has Positive View of Revvity FY2024 Earnings

Revvity, Inc. (NYSE:RVTY) – Analysts at Zacks Research raised their FY2024 earnings per share estimates for Revvity in a research report issued on Monday, November 25th. Zacks Research analyst R. Department now expects that the company will earn $4.84 per share for the year, up from their prior forecast of $4.74. The consensus estimate for Revvity’s current full-year earnings is $4.85 per share. Zacks Research also issued estimates for Revvity’s Q4 2024 earnings at $1.36 EPS, Q3 2025 earnings at $1.28 EPS, Q4 2025 earnings at $1.46 EPS, Q1 2026 earnings at $1.33 EPS and Q3 2026 earnings at $1.42 EPS.

Other research analysts have also recently issued reports about the company. Barclays lowered their target price on Revvity from $140.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday. Sanford C. Bernstein reduced their target price on shares of Revvity from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Wells Fargo & Company started coverage on shares of Revvity in a report on Tuesday, August 27th. They set an “equal weight” rating and a $130.00 price target for the company. Robert W. Baird raised their price objective on shares of Revvity from $136.00 to $138.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, Raymond James lifted their price objective on shares of Revvity from $144.00 to $146.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Revvity presently has an average rating of “Moderate Buy” and a consensus target price of $131.73.

Revvity Stock Up 1.0 %

Revvity stock opened at $116.23 on Wednesday. The firm has a market capitalization of $14.15 billion, a P/E ratio of 56.15, a P/E/G ratio of 2.86 and a beta of 1.05. The stock’s fifty day simple moving average is $120.05 and its 200-day simple moving average is $115.89. Revvity has a twelve month low of $86.30 and a twelve month high of $129.50. The company has a current ratio of 3.56, a quick ratio of 2.97 and a debt-to-equity ratio of 0.40.

Revvity (NYSE:RVTY) last announced 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 net margin of 9.34% and a return on equity of 7.42%. The firm had revenue of $684.10 million for the quarter, compared to the consensus estimate of $679.66 million. During the same period in the prior year, the firm earned $1.18 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis.

Institutional Trading of Revvity

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC grew its stake in shares of Revvity by 516.4% in the 1st quarter. Jane Street Group LLC now owns 453,343 shares of the company’s stock valued at $47,601,000 after purchasing an additional 379,802 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Revvity by 3,171.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 87,180 shares of the company’s stock valued at $9,142,000 after buying an additional 84,515 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in Revvity by 27.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 84,383 shares of the company’s stock valued at $8,790,000 after buying an additional 18,367 shares during the period. Virtu Financial LLC purchased a new position in Revvity during the 1st quarter worth $1,214,000. Finally, Artemis Investment Management LLP lifted its stake in shares of Revvity by 21.3% in the 2nd quarter. Artemis Investment Management LLP now owns 107,634 shares of the company’s stock worth $11,287,000 after acquiring an additional 18,916 shares during the period. 86.65% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Tajinder S. Vohra sold 2,154 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $121.73, for a total transaction of $262,206.42. Following the completion of the sale, the insider now owns 19,652 shares in the company, valued at approximately $2,392,237.96. This represents a 9.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.60% of the stock is currently owned by corporate insiders.

Revvity Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be paid a dividend of $0.07 per share. The ex-dividend date is Friday, January 17th. This represents a $0.28 dividend on an annualized basis and a yield of 0.24%. Revvity’s dividend payout ratio is presently 13.53%.

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

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.