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Investing.com - Raymond (NSE:RYMD) James lowered its price target on Revvity Inc (NYSE:RVTY) to $115.00 from $120.00 on Tuesday, while maintaining an Outperform rating following the company’s second-quarter earnings report. The company, currently trading at $95.71, maintains strong financial health with a perfect Piotroski Score of 9, according to InvestingPro data.
The firm cited reimbursement headwinds in China as the primary reason for the adjustment, specifically pointing to a change in coverage for multiplex immunodiagnostics that will impact Revvity’s growth for the remainder of the year.
Revvity has reduced its organic growth forecast to 2-4%, representing a 100 basis point cut from previous guidance, directly attributable to the Chinese reimbursement changes.
Despite these challenges, Raymond James noted that Revvity’s remaining business performed as expected, with margin reductions explained by the diagnostic-related group changes and foreign exchange impacts, which management expects to fully offset by 2026.
The stock fell approximately 8% in response to the news, though Raymond James continues to project approximately 6% organic growth in future years with expanding margins that the firm believes are currently undervalued by the market.
In other recent news, Revvity Inc. reported its second-quarter 2025 earnings, which exceeded analyst expectations. The company announced an adjusted earnings per share of $1.18, surpassing the forecasted $1.14, and revenue of $720 million, beating the anticipated $710.39 million. Despite these positive results, the company faces challenges related to China’s drug-related group policies, which have influenced its financial outlook. As a result, Jefferies has lowered its price target for Revvity to $100 from $106, while maintaining a Hold rating. Similarly, Bernstein SocGen Group reduced its price target to $115 from $120, retaining a Market Perform rating. Both firms cite concerns over China-related headwinds as reasons for their adjustments. These developments highlight the mixed reactions from analysts despite Revvity’s strong quarterly performance.
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