Revvity (NYSE:RVTY) Updates FY24 Earnings Guidance

Revvity (NYSE:RVTY - Get Free Report) issued an update on its FY24 earnings guidance on Monday morning. The company provided EPS guidance of $4.83-4.87 for the period, compared to the consensus EPS estimate of $4.75. The company issued revenue guidance of $2.75-2.77 billion, compared to the consensus revenue estimate of $2.77 billion. Revvity also updated its FY 2024 guidance to 4.830-4.870 EPS.

Revvity Stock Up 3.1 %

Shares of Revvity stock traded up $3.78 during trading on Monday, reaching $124.82. The stock had a trading volume of 2,389,122 shares, compared to its average volume of 825,470. The company has a current ratio of 2.27, a quick ratio of 1.98 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $15.39 billion, a price-to-earnings ratio of 92.17, a P/E/G ratio of 3.27 and a beta of 1.06. Revvity has a 52 week low of $82.17 and a 52 week high of $128.83. The stock has a fifty day moving average price of $121.39 and a two-hundred day moving average price of $114.11.

Revvity Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 17th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.28 annualized dividend and a dividend yield of 0.22%. Revvity's dividend payout ratio is currently 20.29%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on RVTY shares. Citigroup increased their target price on shares of Revvity from $135.00 to $145.00 and gave the stock a "buy" rating in a report on Tuesday, July 30th. Bank of America raised their price objective on Revvity from $118.00 to $127.00 and gave the company a "neutral" rating in a report on Tuesday, July 30th. Barclays upgraded Revvity from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $125.00 to $140.00 in a report on Tuesday, October 15th. Leerink Partners raised their price target on Revvity from $130.00 to $135.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. Finally, Wells Fargo & Company began coverage on Revvity in a research note on Tuesday, August 27th. They set an "equal weight" rating and a $130.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $128.79.

Insider Transactions at Revvity

In other Revvity news, insider Tajinder S. Vohra sold 2,153 shares of the company's stock in a transaction on Monday, October 7th. The stock was sold at an average price of $122.09, for a total value of $262,859.77. Following the transaction, the insider now directly owns 23,960 shares of the company's stock, valued at $2,925,276.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Tajinder S. Vohra sold 2,154 shares of the business's stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $121.73, for a total value of $262,206.42. Following the completion of the sale, the insider now directly owns 19,652 shares in the company, valued at approximately $2,392,237.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Tajinder S. Vohra sold 2,153 shares of the firm's stock in a transaction on Monday, October 7th. The stock was sold at an average price of $122.09, for a total value of $262,859.77. Following the transaction, the insider now owns 23,960 shares in the company, valued at approximately $2,925,276.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,807 shares of company stock worth $937,576 over the last quarter. Company insiders own 0.60% 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.