Q4 Earnings Estimate for Revvity Issued By Leerink Partnrs

Revvity, Inc. (NYSE:RVTY) – Stock analysts at Leerink Partnrs cut their Q4 2024 earnings estimates for shares of Revvity in a research note issued to investors on Tuesday, January 21st. Leerink Partnrs analyst P. Souda now expects that the company will post earnings per share of $1.37 for the quarter, down from their prior estimate of $1.38. The consensus estimate for Revvity’s current full-year earnings is $4.84 per share. Leerink Partnrs also issued estimates for Revvity’s FY2025 earnings at $5.08 EPS and FY2026 earnings at $5.72 EPS.

Revvity (NYSE:RVTY) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.28 earnings per share (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%. Revvity’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the company posted $1.18 earnings per share.

Several other research firms have also commented on RVTY. Sanford C. Bernstein lowered 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. TD Cowen increased their target price on shares of Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. 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. Leerink Partners increased their price objective on Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, Bank of America upgraded Revvity from a “neutral” rating to a “buy” rating and set a $138.00 target price 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. Based on data from MarketBeat, Revvity has an average rating of “Moderate Buy” and a consensus price target of $132.00.

Revvity Price Performance

Shares of RVTY stock opened at $122.76 on Wednesday. The stock’s 50-day moving average is $114.96 and its 200 day moving average is $117.91. Revvity has a 1-year low of $97.32 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 2.97. The company has a market cap of $14.94 billion, a P/E ratio of 59.31, a PEG ratio of 3.50 and a beta of 1.03.

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

Insider Buying and Selling

In other Revvity news, insider Tajinder S. Vohra sold 5,492 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $116.81, for a total transaction of $641,520.52. Following the sale, the insider now directly owns 19,652 shares of the company’s stock, valued at approximately $2,295,550.12. This trade represents a 21.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Revvity

Institutional investors and hedge funds have recently modified their holdings of the stock. Gladius Capital Management LP purchased a new position in Revvity during the third quarter valued at approximately $32,000. EverSource Wealth Advisors LLC boosted its holdings in Revvity by 74.2% during the second quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company’s stock worth $41,000 after buying an additional 167 shares in the last quarter. Continuum Advisory LLC increased its holdings in Revvity by 2,972.7% in the third quarter. Continuum Advisory LLC now owns 338 shares of the company’s stock valued at $43,000 after buying an additional 327 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of Revvity by 55.9% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the company’s stock worth $43,000 after acquiring an additional 138 shares during the period. Finally, Avior Wealth Management LLC boosted its stake in shares of Revvity by 7,980.0% during the 3rd quarter. Avior Wealth Management LLC now owns 404 shares of the company’s stock worth $52,000 after acquiring an additional 399 shares in the last quarter. Institutional investors and hedge funds own 86.65% of the company’s stock.

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.