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Headquartered in Waltham, Massachusetts, Revvity, Inc. (RVTY) is a global provider of life sciences and diagnostics solutions with a market cap of $14.96 billion. Specializing in innovative products and services that advance scientific research, healthcare, and diagnostics, Revvity plays a crucial role in enhancing patient outcomes and supporting breakthroughs in medical science.
Shares of RVTY have underperformed the broader market considerably over the past year. RVTY has gained 4.3% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 27%. Also, in 2024, the stock is up 10.9%, compared to the SPX’s 18.1% rise on a YTD basis.
Narrowing the focus, RVTY's underperformance looks less pronounced when measured against the Health Care Select Sector SPDR Fund (XLV). The exchange-traded fund has gained 14% on a YTD Basis.
On Jul. 29, Revvity rose over 8% after reporting Q2 results. The company reported revenue of $691.70 million, which fell short of Wall Street forecasts of $694.4 million. Its adjusted EPS of $1.22 beat the consensus estimates of $1.13. Revvity expects full-year earnings between $4.70 and $4.80 per share, with revenue between $2.77 billion and $2.79 billion.
For the current fiscal year, ending in December, analysts expect RVTY’s EPS to grow 2.2% year over year to $4.75 on a diluted basis. The company's earnings surprise history is mixed. It missed the consensus estimate in three of the last four quarters while beating the forecast on another occasion.
Among the 16 analysts covering RVTY stock, the consensus rating is a “Moderate Buy.” That’s based on eight “Strong Buy” ratings, one “Moderate Buy,” and seven “Holds.”
This configuration is slightly more bullish than a month ago, with seven analysts suggesting a “Strong Buy.”
On Jul. 29, Leerink Partners analyst Puneet Souda reiterated a “Buy” rating on Revvity, with a price target of $130, which indicates a 7.2% upside from the current levels.
The mean price target of $132.88 represents a 9.6% premium to RVTY’s current price levels. The Street-high price target of $145 suggests an upside potential of 19.6%.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
