Revvity (RVTY) to Release Earnings on Friday

Revvity (NYSE:RVTY) will likely be issuing its quarterly earnings data before the market opens on Friday, January 31st. Analysts expect the company to announce 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.Parties interested in participating in the company’s conference call can do so using this link.

Revvity (NYSE:RVTY) last announced its earnings results on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.15. The firm had revenue of $684.10 million during the quarter, compared to the consensus estimate of $679.66 million. Revvity had a return on equity of 7.42% and a net margin of 9.34%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company 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 Trading Up 1.2 %

Revvity stock opened at $125.54 on Wednesday. The business has a 50 day moving average price of $115.73 and a two-hundred day moving average price of $118.39. The company has a quick ratio of 2.97, a current ratio of 3.56 and a debt-to-equity ratio of 0.40. The stock has a market cap of $15.28 billion, a price-to-earnings ratio of 60.64, a price-to-earnings-growth ratio of 3.67 and a beta of 1.03. Revvity has a 12 month low of $97.32 and a 12 month high of $129.50.

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

Revvity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Friday, April 18th will be issued a $0.07 dividend. The ex-dividend date is Thursday, April 17th. This represents a $0.28 annualized dividend and a yield of 0.22%. Revvity’s dividend payout ratio (DPR) is 13.53%.

Insiders Place Their Bets

In related news, insider Tajinder S. Vohra sold 5,492 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $116.81, for a total value of $641,520.52. Following the sale, the insider now directly owns 19,652 shares in the company, valued at $2,295,550.12. This represents a 21.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RVTY. TD Cowen raised their price target on Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Leerink Partners raised their price target on Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Sanford C. Bernstein downgraded Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price objective on the stock. in a research note on Friday, January 10th. Robert W. Baird raised their price objective on Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Finally, Bank of America raised Revvity from a “neutral” rating to a “buy” rating and set a $138.00 price target on the stock in a research note on Friday, December 13th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.