Daniel Brennan, an analyst from TD Cowen, maintained the Buy rating on Revvity. The associated price target was lowered to $120.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Daniel Brennan has given his Buy rating due to a combination of factors including Revvity’s financial performance and market positioning. The company reported a solid third quarter with earnings per share exceeding expectations by 4%, and its guidance for 2025 earnings per share was raised. Despite a slight decline in Life Sciences, the Diagnostics segment performed well, particularly in core Reproductive Health and ImmunoDx, indicating a balanced performance across different business areas.
Additionally, Revvity’s valuation is currently at the lower end of its historical range, presenting a potential investment opportunity, especially with anticipated improvements in the pharmaceutical sector. The company is also benefiting from strategic buybacks and cost management, which are expected to support earnings growth. Brennan’s confidence is further bolstered by the company’s leverage in an improving Biopharma R&D environment, and he maintains a price target of $120, reflecting a positive outlook for the stock.
In another report released yesterday, Evercore ISI also maintained a Buy rating on the stock with a $108.00 price target.
Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RVTY in relation to earlier this year.