FY2024 EPS Estimates for Revvity Boosted by Leerink Partnrs

Revvity, Inc. (NYSE:RVTY) – Leerink Partnrs increased their FY2024 EPS estimates for Revvity in a research note issued to investors on Monday, November 4th. Leerink Partnrs analyst P. Souda now expects that the company will post earnings of $4.85 per share for the year, up from their previous forecast 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.

Revvity (NYSE:RVTY) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.15. The firm had revenue of $684.10 million during the quarter, compared to the consensus estimate of $679.66 million. Revvity had a return on equity of 7.34% and a net margin of 6.26%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.18 EPS.

A number of other research analysts have also issued reports on RVTY. Barclays upgraded Revvity from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $125.00 to $140.00 in a research report on Tuesday, October 15th. Wells Fargo & Company assumed coverage on shares of Revvity in a report on Tuesday, August 27th. They issued an “equal weight” rating and a $130.00 price objective for the company. Raymond James raised their target price on shares of Revvity from $144.00 to $146.00 and gave the company an “outperform” rating in a research note on Tuesday. TD Cowen upped their price target on shares of Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Citigroup increased their price objective on shares of Revvity from $135.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Revvity has an average rating of “Moderate Buy” and an average target price of $132.07.

Revvity Stock Down 0.9 %

RVTY stock opened at $124.86 on Wednesday. The company has a quick ratio of 1.98, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. The firm’s 50-day simple moving average is $121.60 and its 200 day simple moving average is $114.54. The stock has a market cap of $15.40 billion, a PE ratio of 90.48, a price-to-earnings-growth 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.

Revvity Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 7th. Investors of record on Friday, January 17th will be given a $0.07 dividend. 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 20.29%.

Revvity declared that its Board of Directors has authorized a stock repurchase plan on Monday, November 4th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 6.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other Revvity news, insider Tajinder S. Vohra sold 2,153 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were 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 of the company’s stock, valued at approximately $2,925,276.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Tajinder S. Vohra sold 2,154 shares of Revvity stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $121.73, for a total transaction of $262,206.42. Following the transaction, the insider now 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 can be accessed through the SEC website. Also, insider Tajinder S. Vohra sold 2,153 shares of the company’s stock in a transaction on Monday, October 7th. The shares were 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 in the company, valued at $2,925,276.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Revvity

Several institutional investors and hedge funds have recently bought and sold shares of the business. Gladius Capital Management LP purchased a new position in shares of Revvity during the 3rd quarter valued at $32,000. Natixis Advisors LLC grew its stake in Revvity by 17.9% in the third quarter. Natixis Advisors LLC now owns 12,499 shares of the company’s stock valued at $1,597,000 after purchasing an additional 1,901 shares in the last quarter. Empowered Funds LLC acquired a new position in Revvity in the 3rd quarter worth about $227,000. Empirical Finance LLC raised its stake in shares of Revvity by 2.0% during the 3rd quarter. Empirical Finance LLC now owns 4,237 shares of the company’s stock worth $541,000 after purchasing an additional 85 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in shares of Revvity by 8.2% in the 3rd quarter. CIBC Asset Management Inc now owns 17,993 shares of the company’s stock valued at $2,299,000 after buying an additional 1,368 shares in the last quarter. Hedge funds and other institutional investors own 86.65% of the company’s stock.

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.