Revvity (RVTY) Expected to Announce Earnings on Friday

Revvity (NYSE:RVTY - Get Free Report) is expected to post its quarterly earnings results before the market opens on Friday, January 31st. Analysts expect Revvity to post 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 interested in participating in the company's conference call can do so using this link.

Revvity (NYSE:RVTY - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.13 by $0.15. Revvity had a return on equity of 7.42% and a net margin of 9.34%. The business had revenue of $684.10 million for the quarter, compared to the consensus estimate of $679.66 million. During the same period in the prior year, the firm posted $1.18 earnings per share. The business's quarterly revenue was up 2.1% on a year-over-year basis. On average, analysts expect Revvity to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Revvity Stock Up 0.2 %

NYSE:RVTY traded up $0.24 during mid-day trading on Friday, hitting $123.27. 726,351 shares of the company's stock traded hands, compared to its average volume of 807,811. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.97 and a current ratio of 3.56. The company has a market capitalization of $15.00 billion, a P/E ratio of 59.55, a P/E/G ratio of 3.67 and a beta of 1.03. The company has a fifty day moving average of $115.16 and a 200 day moving average of $117.98. Revvity has a twelve month low of $97.32 and a twelve month high of $129.50.

Revvity Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Friday, April 18th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date is Thursday, April 17th. Revvity's dividend payout ratio (DPR) is presently 13.53%.

Revvity declared that its board 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 buy up to 6.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. TD Cowen raised their target price on Revvity from $141.00 to $144.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. Bank of America raised Revvity from a "neutral" rating to a "buy" rating and set a $138.00 target price for the company in a report on Friday, December 13th. Raymond James decreased their price objective on shares of Revvity from $146.00 to $140.00 and set an "outperform" rating for the company in a research note on Tuesday. Barclays cut their price objective on shares of Revvity from $140.00 to $135.00 and set an "overweight" rating on the stock in a research note on Monday, November 25th. Finally, Sanford C. Bernstein downgraded shares of Revvity from an "outperform" rating to a "market perform" rating and set a $130.00 target price for the company. in a research report on Friday, January 10th. 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 company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $132.00.

Insider Buying and Selling

In related news, insider Tajinder S. Vohra sold 5,492 shares of Revvity stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $116.81, for a total value of $641,520.52. Following the sale, the insider now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.60% of the stock is currently owned by insiders.

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.