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On Friday, Jefferies analyst Tycho Peterson increased the price target for Revvity Inc (NYSE:RVTY) shares to $130 from the previous target of $120, while keeping a Hold rating on the stock. The new target reflects Revvity’s current trading price of $126.79, with the stock trading near its 52-week high of $129.50. According to InvestingPro analysis, Revvity appears slightly overvalued at current levels. Peterson’s adjustment follows Revvity’s financial performance, which aligned with expectations after a prior announcement of the results.
Revvity’s earnings per share (EPS) saw a positive variance of 5%, partly due to the impact of share buybacks contributing an additional 2%. InvestingPro data shows management has been aggressively buying back shares, with the company maintaining strong financial health indicated by a current ratio of 3.56. In looking forward, Peterson noted that Revvity’s guidance for 2025 brackets current market expectations at the higher end, with core growth projected between 3-5% and an EPS range of $4.90 to $5.00. The guidance does not anticipate any improvement in current market trends, a stance the analyst suggests could be conservative.
Despite this potential for conservative guidance, Peterson believes that while there is an interesting potential upside to biopharma demand, particularly through reagents, investors are anticipated to remain more focused on bioproduction and the possibility of a recovery in instrument sales.
The analyst’s commentary underscores a cautious but observant stance on Revvity’s future performance, indicating that while there may be positive developments, the market’s attention is likely to be on specific segments of the company’s business. Peterson reiterates the Hold rating, suggesting that the current market position of Revvity should be maintained until more definitive signs of growth or recovery are evident.
In other recent news, health science solutions provider Revvity Inc. reported its fourth-quarter earnings that exceeded analyst expectations. The company posted adjusted earnings per share of $1.42, surpassing the consensus estimate of $1.37, with its revenue reaching $729 million. This revenue figure, while slightly below analysts’ projections of $731.15 million, marked a 5% YoY increase. The quarter’s organic revenue growth was 6%, spurred by increases in both its Diagnostics and Life Sciences segments.
Revvity’s CEO, Prahlad Singh, noted the strong finish to the year, setting the company in a good position for 2025. For the upcoming year, Revvity forecasts revenue of $2.80-$2.85 billion and adjusted EPS of $4.90-$5.00. However, the revenue guidance midpoint falls short of the $2.863 billion consensus estimate. The company also highlighted an expanded adjusted operating margin of 30.3% in Q4, up from 27.5% a year ago, indicating improved profitability. These developments mark the most recent updates for Revvity.
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