Anticipation Builds as Revvity Sets Stage for Q4 Earnings Report
Revvity, Inc. (RVTY), based in Waltham, Massachusetts, is recognized as a top player in health sciences solutions, technologies, and diagnostic services. The company boasts a market capitalization of $14.7 billion and specializes in translational multi-omics technologies, biomarker identification, imaging, prediction, screening, detection, diagnosis, informatics, and more. Investors are eager for the upcoming announcement of its fiscal fourth-quarter earnings for 2024, scheduled for release before the market opens on Friday, January 31.
Earnings Expectations Show Positive Trends
Before the earnings report, analysts predict that RVTY will earn $1.36 per share on a diluted basis, a solid increase of 8.8% from $1.25 per share in the same quarter last year. Impressively, the company has consistently exceeded Wall Street’s earnings per share (EPS) expectations over the last four quarters.
Yearly Insights and Future Projections
For the entire year, RVTY is anticipated to report an EPS of $4.84, marking a 4.1% increase from $4.65 in fiscal 2023. Looking ahead, EPS is projected to rise to $5.04 for fiscal 2025, continuing this upward trajectory.
Stock Performance: A Mixed Bag
Over the past year, RVTY stock has struggled, increasing only 9% compared to the S&P 500’s gains of 22.1%. In contrast, it managed to outperform the Health Care Select Sector SPDR Fund (XLV), which recorded minor losses during the same period.
Challenges Facing Revvity
The company’s recent underperformance can be attributed to poorly executed acquisitions, ineffective resource management, and missed opportunities in the post-pandemic landscape. Additionally, a decrease in demand from pharmaceutical customers has led to stagnant growth and worsening financial conditions.
Recent Financial Highlights
On November 4, RVTY shares climbed over 3% following the announcement of its Q3 results, which reported an adjusted revenue of $684 million, up 2% year over year. Furthermore, the adjusted EPS rose by 8.5% to reach $1.28. For the full year, RVTY expects its adjusted EPS to fall between $4.83 and $4.87 and revenue to be in the range of $2.75 billion to $2.77 billion.
Analysts Weigh In
Currently, analysts maintain a moderately bullish outlook on RVTY stock, assigning it a “Moderate Buy” rating. Among the 17 analysts covering the stock, nine have given a “Strong Buy” rating, one a “Moderate Buy,” and seven a “Hold.” The average price target set by analysts stands at $133.94, suggesting a potential upside of 10.9% from current prices.
On the date of publication, Neha Panjwani did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article are solely for informational purposes. For more information, please view the Barchart Disclosure Policy here. More news from Barchart
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