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On Wednesday, KeyBanc Capital Markets maintained its positive stance on Revvity Inc (NYSE:RVTY), reiterating an Overweight rating with a price target of $145.00. The stock, currently trading near its 52-week low at $91.24 with a market capitalization of $10.9 billion, has seen a challenging period with a 14% decline in the past week. The firm's analysts provided an updated perspective on the company's financial model in light of upcoming changes to its reporting structure. According to InvestingPro, analyst targets range from $120 to $162, suggesting significant potential upside.
Revvity, which operates in the Life Sciences and Diagnostics sectors, is expected to implement a new reporting format in the first quarter of 2025. The revised structure will reflect the company's two primary segments, Life Sciences and Diagnostics, each contributing approximately half of the total revenue of $2.76 billion in 2024. The Life Sciences segment will be further broken down into Life Sciences Solutions, which accounted for 43% of the company's revenue in the fiscal year 2024, and Software (ETR:SOWGn), contributing 7%. Meanwhile, the Diagnostics segment will include Immunodiagnostics and Reproductive Health, responsible for 30% and 19% of the revenue, respectively. InvestingPro analysis indicates the company maintains strong financial health with a current ratio of 3.6x, suggesting robust liquidity.
Despite potential challenges in the life science instruments business, a part of the Life Sciences Solutions segment, KeyBanc analysts believe Revvity's diverse business portfolio is well-positioned to continue growing. They anticipate that the company's mix of offerings will be able to mitigate risks associated with academic funding and tariffs.
KeyBanc's analysts have decided to maintain their full-year estimates for Revvity, expressing confidence in the company's ability to achieve its financial targets for the fiscal year 2025. The firm underscores its commitment to an Overweight rating on Revvity, signaling their expectation that the stock will outperform the average return of the stocks in the analyst's coverage universe over the next 12 to 18 months.
In other recent news, Revvity Inc. reported its fourth-quarter 2024 financial results, showing a slight beat in earnings per share (EPS) with $1.42 against the forecasted $1.37, though revenue fell short at $729 million compared to the anticipated $731.15 million. The company has set an organic growth target of 3% to 5% for 2025, with expected revenue between $2.8 billion and $2.85 billion. KeyBanc has raised its price target for Revvity to $145, maintaining an Overweight rating, following the company's pre-announcement of fourth-quarter results and fiscal year 2025 guidance. Meanwhile, Stifel maintains a Hold rating with a price target of $120, noting Revvity's conservative forecasts and potential upside if market conditions improve. Bernstein SocGen has also increased its price target to $140, citing Revvity's 6% organic growth in the fourth quarter and advancements in tax planning. Revvity's management remains cautiously optimistic, focusing on strategic investments in reagents and expecting continued organic growth and margin expansion in 2025. These developments reflect Revvity's ongoing efforts to navigate market conditions and strategic initiatives to enhance growth.
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