Revvity (RVTY) Projected to Post Quarterly Earnings on Friday

Revvity (NYSE:RVTY) is projected to issue 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 $730,095.50 billion 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 that wish to register for 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 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.15. The business had revenue of $684.10 million for the quarter, compared to analysts’ expectations of $679.66 million. Revvity had a net margin of 9.34% and a return on equity of 7.42%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company posted $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

Shares of Revvity stock opened at $123.02 on Friday. The firm’s fifty day simple moving average is $115.02 and its 200-day simple moving average is $117.95. The stock has a market capitalization of $14.97 billion, a price-to-earnings ratio of 59.43, a PEG ratio of 3.68 and a beta of 1.03. Revvity has a 12 month low of $97.32 and a 12 month 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.

Revvity Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 18th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.23%. Revvity’s dividend payout ratio (DPR) is 13.53%.

Revvity announced that its Board of Directors has approved 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 a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Tajinder S. Vohra sold 5,492 shares of the stock in a transaction 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 completion of the transaction, the insider now owns 19,652 shares of the company’s stock, valued at approximately $2,295,550.12. This represents a 21.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on RVTY shares. Barclays cut their price target on Revvity from $140.00 to $135.00 and set an “overweight” rating for the company in a research note on Monday, November 25th. Bank of America raised shares of Revvity from a “neutral” rating to a “buy” rating and set a $138.00 target price for the company in a research note on Friday, December 13th. Leerink Partners upped their price objective on shares of Revvity from $130.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Sanford C. Bernstein downgraded shares of Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price objective for the company. in a research note on Friday, January 10th. Finally, TD Cowen boosted their target price on Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Revvity has an average rating of “Moderate Buy” and a consensus 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.