Revvity (RVTY) to Release Quarterly Earnings on Monday

Revvity (NYSE:RVTY) is scheduled to announce its earnings results before the market opens on Monday, April 29th. Analysts expect the company to announce earnings of $0.94 per share for the quarter. Revvity has set its FY 2024 guidance at 4.550-4.750 EPS and its FY24 guidance at $4.55-$4.75 EPS.Investors interested in registering for the company’s conference call can do so using this link.

Revvity (NYSE:RVTY) last issued its earnings results on Thursday, February 1st. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.10. Revvity had a net margin of 25.20% and a return on equity of 7.41%. The business had revenue of $695.90 million for the quarter. On average, analysts expect Revvity to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Revvity Trading Up 1.5 %

Shares of RVTY stock opened at $100.86 on Monday. The company’s fifty day simple moving average is $104.78 and its two-hundred day simple moving average is $101.56. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.07 and a quick ratio of 1.77. Revvity has a 1 year low of $79.50 and a 1 year high of $135.67. The stock has a market capitalization of $12.46 billion, a price-to-earnings ratio of 18.34, a PEG ratio of 2.63 and a beta of 1.09.

Revvity Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 19th will be issued a dividend of $0.07 per share. The ex-dividend date is Thursday, April 18th. This represents a $0.28 dividend on an annualized basis and a yield of 0.28%. Revvity’s payout ratio is 5.09%.

Insider Transactions at Revvity

In other news, insider Prahlad R. Singh sold 21,217 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $104.28, for a total transaction of $2,212,508.76. Following the completion of the sale, the insider now directly owns 92,801 shares in the company, valued at $9,677,288.28. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.60% of the stock is currently owned by company insiders.

Institutional Trading of Revvity

A number of institutional investors have recently modified their holdings of the company. Legal & General Group Plc bought a new position in Revvity in the fourth quarter worth about $92,306,000. Goldman Sachs Group Inc. bought a new position in Revvity in the fourth quarter worth about $45,453,000. Nuveen Asset Management LLC bought a new position in Revvity in the fourth quarter worth about $30,085,000. Barclays PLC bought a new position in Revvity in the fourth quarter worth about $26,839,000. Finally, First Trust Advisors LP bought a new position in Revvity in the fourth quarter worth about $21,675,000. 86.65% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on RVTY shares. Stifel Nicolaus boosted their target price on shares of Revvity from $95.00 to $110.00 and gave the company a “hold” rating in a report on Friday, February 2nd. UBS Group cut Revvity from a “buy” rating to a “neutral” rating and increased their target price for the company from $105.00 to $125.00 in a research note on Tuesday, January 16th. Raymond James increased their target price on Revvity from $106.00 to $127.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Evercore ISI raised Revvity from an “in-line” rating to an “outperform” rating and increased their target price for the company from $88.00 to $125.00 in a research note on Thursday, January 4th. Finally, Barclays increased their target price on Revvity from $92.00 to $105.00 and gave the company an “equal weight” rating in a research note on Thursday, January 25th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $118.91.

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.