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Waltham, Massachusetts-based Revvity, Inc. (RVTY) provides health sciences solutions, technologies, and services. Valued at $13.7 billion by market cap, the company focuses on translational multi-omics technologies, biomarker identification, imaging, prediction, screening, detection, diagnosis, informatics, and other areas. The leading research and diagnostic firm is expected to announce its fiscal second-quarter earnings for 2024 before the market opens on Monday, Jul. 29.
Ahead of the event, analysts expect RVTY to report a profit of $1.13 per share on a diluted basis, down 6.6% from $1.21 per share in the year-ago quarter. The company beat the consensus estimates in three of the last four quarters while missing on another occasion.
Driven by successful innovations, strategic business optimization, and effective navigation of industry changes, Revvity reported an EPS of $0.98 for the last quarter, exceeding the consensus estimate by 4.3%.
For the full year, analysts expect RVTY to report EPS of $4.64, down marginally from $4.65 in fiscal 2023. Looking further ahead, its fiscal 2025 EPS is expected to rebound and grow 11.4% year over year to $5.17.
RVTY stock has underperformed the S&P 500’s ($SPX) 16.7% gains on a YTD basis, with shares up 1.3% during this period. Similarly, it underperformed the S&P 500 Healthcare Sector SPDR’s (XLV) 9.1% gains over the same time frame.
Despite Revvity’s underperformance compared to the broader market, RVTY shares closed up more than 3% on Apr. 29, following the release of its Q1 results, and have been on an uptrend since then.
RVTY also updated its full-year revenue and expects it to be between $2.76 billion and $2.82 billion, reflecting the recent changes in foreign currency exchange rates. Further, the company reaffirmed its adjusted EPS to be between $4.55 and $4.75 and organic growth guidance of 1-3%. During the previous quarter, RVTY declared a quarterly dividend of $0.07 per share of common stock, payable on Aug. 9.
Analysts’ consensus opinion on RVTY stock is bullish, with a “Moderate Buy” rating overall. Out of 16 analysts covering the stock, eight advise a “Strong Buy” rating, one suggests a “Moderate Buy” rating, and seven give it a “Hold.” The average analyst price target for RVTY is $120.73, indicating a potential upside of 9.1% from the current levels.
On the date of publication, Kritika Sarmah 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.
