Leerink Partnrs Estimates Revvity’s Q4 Earnings (NYSE:RVTY)

Revvity, Inc. (NYSE:RVTY) – Research analysts at Leerink Partnrs cut their Q4 2024 EPS estimates for Revvity in a research note issued on Tuesday, January 21st. Leerink Partnrs analyst P. Souda now anticipates that the company will post earnings of $1.37 per share for the quarter, down from their previous forecast of $1.38. The consensus estimate for Revvity’s current full-year earnings is $4.84 per share. Leerink Partnrs also issued estimates for Revvity’s FY2025 earnings at $5.08 EPS and FY2026 earnings at $5.72 EPS.

Revvity (NYSE:RVTY) last posted its earnings results on Monday, November 4th. The company reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.15. Revvity had a net margin of 9.34% and a return on equity of 7.42%. 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 business’s revenue for the quarter was up 2.1% compared to the same quarter last year.

Several other research firms also recently commented on RVTY. TD Cowen lifted their target price on shares of Revvity from $141.00 to $144.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Bank of America upgraded 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 dropped their price objective on shares of Revvity from $146.00 to $140.00 and set an “outperform” rating on the stock in a report on Tuesday. Leerink Partners increased their target price on Revvity from $130.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Sanford C. Bernstein downgraded Revvity from an “outperform” rating to a “market perform” rating and set a $130.00 price target for the company. in a research note on Friday, January 10th. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $132.00.

Revvity Trading Up 4.7 %

NYSE RVTY opened at $123.97 on Wednesday. The business’s fifty day moving average is $114.89 and its 200 day moving average is $117.77. Revvity has a twelve month low of $97.32 and a twelve month high of $129.50. The company has a market cap of $15.09 billion, a price-to-earnings ratio of 59.89, a price-to-earnings-growth ratio of 3.50 and a beta of 1.03. The company has a quick ratio of 2.97, a current ratio of 3.56 and a debt-to-equity ratio of 0.40.

Revvity declared that its Board of Directors has initiated a stock repurchase plan on Monday, November 4th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Revvity Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 7th. Shareholders of record on Friday, January 17th will be given 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 Friday, January 17th. Revvity’s dividend payout ratio is currently 13.53%.

Insider Buying and Selling

In related news, insider Tajinder S. Vohra sold 5,492 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $116.81, for a total transaction 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 represents a 21.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Revvity

A number of large investors have recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in shares of Revvity by 13.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 344,115 shares of the company’s stock valued at $43,961,000 after acquiring an additional 41,497 shares in the last quarter. Contravisory Investment Management Inc. boosted its stake in shares of Revvity by 1,715.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 69,186 shares of the company’s stock valued at $7,722,000 after purchasing an additional 65,376 shares during the period. Bretton Capital Management LLC purchased a new stake in shares of Revvity during the third quarter valued at approximately $1,405,000. FMR LLC grew its holdings in shares of Revvity by 40.8% in the third quarter. FMR LLC now owns 155,556 shares of the company’s stock worth $19,872,000 after purchasing an additional 45,040 shares during the last quarter. Finally, Gateway Investment Advisers LLC increased its stake in shares of Revvity by 942.5% during the third quarter. Gateway Investment Advisers LLC now owns 38,081 shares of the company’s stock valued at $4,865,000 after buying an additional 34,428 shares during the period. 86.65% of the stock is currently owned by institutional investors.

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.