Leerink Partnrs Predicts Increased Earnings for Revvity

Revvity, Inc. (NYSE:RVTY) – Leerink Partnrs lifted their FY2024 earnings per share estimates for shares of Revvity in a report released on Monday, November 4th. Leerink Partnrs analyst P. Souda now forecasts that the company will earn $4.85 per share for the year, up from their previous estimate 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 announced its 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 7.34% and a net margin of 6.26%. The firm had revenue of $684.10 million during the quarter, compared to analysts’ expectations of $679.66 million. During the same quarter in the prior year, the business earned $1.18 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis.

A number of other research firms have also recently issued reports on RVTY. Bank of America upped their price target on shares of Revvity from $118.00 to $127.00 and gave the company a “neutral” rating in a report on Tuesday, July 30th. TD Cowen increased their target price on Revvity from $141.00 to $144.00 and gave the company a “buy” rating in a research note on Tuesday. Sanford C. Bernstein lowered their target price on Revvity from $150.00 to $145.00 and set an “outperform” rating on the stock in a report on Tuesday. Wells Fargo & Company assumed coverage on Revvity in a report on Tuesday, August 27th. They set an “equal weight” rating and a $130.00 price target for the company. Finally, Raymond James raised their price objective on shares of Revvity from $144.00 to $146.00 and gave the stock an “outperform” rating in a research note on Tuesday. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $132.07.

Revvity Price Performance

Shares of Revvity stock opened at $124.86 on Wednesday. Revvity has a 1-year low of $82.17 and a 1-year high of $129.50. The firm has a fifty day simple moving average of $121.60 and a 200-day simple moving average of $114.54. 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 stock has a market capitalization of $15.40 billion, a price-to-earnings ratio of 90.48, a PEG ratio of 3.34 and a beta of 1.05.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of RVTY. Janus Henderson Group PLC raised its position in Revvity by 3.9% in the 1st quarter. Janus Henderson Group PLC now owns 5,664,528 shares of the company’s stock valued at $594,769,000 after purchasing an additional 210,100 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Revvity by 18.5% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,126,271 shares of the company’s stock valued at $223,258,000 after buying an additional 332,632 shares during the last quarter. EdgePoint Investment Group Inc. acquired a new position in Revvity during the 2nd quarter worth about $209,221,000. Dimensional Fund Advisors LP grew its holdings in Revvity by 5.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,149,122 shares of the company’s stock worth $120,506,000 after acquiring an additional 57,656 shares during the last quarter. Finally, Ceredex Value Advisors LLC grew its holdings in Revvity by 2.2% during the 2nd quarter. Ceredex Value Advisors LLC now owns 1,094,938 shares of the company’s stock worth $114,815,000 after acquiring an additional 23,318 shares during the last quarter. 86.65% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Revvity declared that its Board of Directors has authorized 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 repurchase 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.

Revvity Announces Dividend

The firm 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. This represents a $0.28 annualized dividend and a yield of 0.22%. The ex-dividend date of this dividend is Friday, January 17th. Revvity’s dividend payout ratio (DPR) is presently 20.29%.

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.