Zacks Research Brokers Raise Earnings Estimates for Revvity

Revvity, Inc. (NYSE:RVTY) – Equities researchers at Zacks Research raised their FY2024 earnings estimates for shares of Revvity in a report issued on Monday, November 25th. Zacks Research analyst R. Department now forecasts that the company will post earnings per share of $4.84 for the year, up from their previous forecast of $4.74. The consensus estimate for Revvity’s current full-year earnings is $4.85 per share. Zacks Research also issued estimates for Revvity’s Q4 2024 earnings at $1.36 EPS, Q3 2025 earnings at $1.28 EPS, Q4 2025 earnings at $1.46 EPS, Q1 2026 earnings at $1.33 EPS and Q3 2026 earnings at $1.42 EPS.

Revvity (NYSE:RVTY) last announced its earnings results on Monday, November 4th. The company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.15. Revvity had a return on equity of 7.42% and a net margin of 9.34%. The firm had revenue of $684.10 million for the quarter, compared to the consensus estimate of $679.66 million. During the same quarter in the previous year, the business earned $1.18 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis.

A number of other research analysts have also commented on RVTY. Leerink Partners raised 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 Revvity from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Robert W. Baird boosted their price target on shares of Revvity from $136.00 to $138.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Sanford C. Bernstein reduced their price objective on shares of Revvity from $150.00 to $145.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Finally, TD Cowen raised their target price on shares of Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Seven investment 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 company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $131.73.

Revvity Stock Performance

Shares of RVTY opened at $115.14 on Wednesday. The firm has a market capitalization of $14.01 billion, a PE ratio of 55.62, a P/E/G ratio of 2.80 and a beta of 1.05. The company has a quick ratio of 2.97, a current ratio of 3.56 and a debt-to-equity ratio of 0.40. The firm has a 50-day moving average price of $120.22 and a 200 day moving average price of $115.89. Revvity has a 52-week low of $86.30 and a 52-week high of $129.50.

Hedge Funds Weigh In On Revvity

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its holdings in shares of Revvity by 1.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 168,547 shares of the company’s stock valued at $17,698,000 after purchasing an additional 2,153 shares in the last quarter. California State Teachers Retirement System grew its holdings in Revvity by 0.8% during the first quarter. California State Teachers Retirement System now owns 196,168 shares of the company’s stock valued at $20,598,000 after purchasing an additional 1,484 shares during the last quarter. Jane Street Group LLC raised its position in shares of Revvity by 516.4% in the first quarter. Jane Street Group LLC now owns 453,343 shares of the company’s stock valued at $47,601,000 after purchasing an additional 379,802 shares during the period. Wahed Invest LLC lifted its stake in shares of Revvity by 13.6% in the first quarter. Wahed Invest LLC now owns 2,399 shares of the company’s stock worth $252,000 after buying an additional 288 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Revvity during the 1st quarter worth $1,214,000. Institutional investors own 86.65% of the company’s stock.

Insiders Place Their Bets

In other news, insider Tajinder S. Vohra sold 2,154 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $121.73, for a total transaction of $262,206.42. Following the completion of the sale, the insider now directly owns 19,652 shares of the company’s stock, valued at $2,392,237.96. This trade represents a 9.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.60% of the company’s stock.

Revvity Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.28 annualized dividend and a yield of 0.24%. Revvity’s dividend payout ratio is presently 13.53%.

Revvity declared that its board has authorized a stock repurchase program on Monday, November 4th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to reacquire up to 6.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

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.