FY2024 EPS Estimates for Revvity Boosted by Leerink Partnrs

Revvity, Inc. (NYSE:RVTY - Free Report) - Leerink Partnrs raised their FY2024 EPS estimates for shares of Revvity in a research report issued on Monday, November 4th. Leerink Partnrs analyst P. Souda now forecasts that the company will post earnings of $4.85 per share for the year, up from their previous estimate 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.

A number of other equities analysts have also recently commented on the stock. Barclays raised shares of Revvity from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $125.00 to $140.00 in a report on Tuesday, October 15th. Sanford C. Bernstein cut 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. Leerink Partners boosted 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. Citigroup boosted their price objective on shares of Revvity from $135.00 to $145.00 and gave the company a "buy" rating in a research note on Tuesday, July 30th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Revvity from $105.00 to $120.00 and gave the company a "neutral" rating in a research note on Tuesday, July 30th. Seven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $132.07.

Revvity Stock Performance

Shares of Revvity stock traded down $1.10 during trading on Wednesday, reaching $124.86. The company's stock had a trading volume of 1,441,848 shares, compared to its average volume of 828,478. The company has a 50-day moving average price of $121.60 and a two-hundred day moving average price of $114.54. The firm has a market cap of $15.40 billion, a PE ratio of 90.48, a P/E/G ratio of 3.34 and a beta of 1.05. Revvity has a fifty-two week low of $82.17 and a fifty-two week high of $129.50. The company has a current ratio of 2.27, a quick ratio of 1.98 and a debt-to-equity ratio of 0.40.

Revvity (NYSE:RVTY - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $684.10 million during the quarter, compared to the consensus estimate of $679.66 million. Revvity had a net margin of 6.26% and a return on equity of 7.34%. The company's revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.18 EPS.

Revvity Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be issued 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 dividend yield of 0.22%. Revvity's dividend payout ratio (DPR) is presently 20.29%.

Revvity announced that its board has authorized a share buyback plan on Monday, November 4th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to repurchase up to 6.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.

Insider Transactions at Revvity

In related news, insider Tajinder S. Vohra sold 2,154 shares of the firm's stock in a transaction that occurred 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 sale, the insider now directly owns 19,652 shares of the company's stock, valued at approximately $2,392,237.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Tajinder S. Vohra sold 2,154 shares of the firm's stock in a transaction that occurred 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 sale, the insider now directly owns 19,652 shares of the company's stock, valued at approximately $2,392,237.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tajinder S. Vohra sold 2,153 shares of the firm's stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $122.09, for a total transaction of $262,859.77. Following the completion of the sale, the insider now directly owns 23,960 shares in the company, valued at $2,925,276.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.60% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rothschild Investment LLC acquired a new position in Revvity during the second quarter valued at approximately $25,000. EverSource Wealth Advisors LLC lifted its position in Revvity by 74.2% during the second quarter. EverSource Wealth Advisors LLC now owns 392 shares of the company's stock valued at $41,000 after buying an additional 167 shares in the last quarter. Fairfield Financial Advisors LTD acquired a new position in Revvity during the second quarter valued at approximately $43,000. Family Firm Inc. acquired a new position in Revvity during the second quarter valued at approximately $43,000. Finally, EntryPoint Capital LLC acquired a new position in Revvity during the first quarter valued at approximately $48,000. 86.65% of the stock is owned by institutional investors and hedge funds.

Revvity Company Profile

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.