Revvity climbs after raising annual profit forecast

Revvity

29/07/2024 12:16

** Shares of medical equipment maker Revvity  RVTY.N  gain
6% to $122 premarket
    ** Co raises FY24 adj. EPS forecast to the range of
$4.7-$4.8, up from earlier expectation of $4.55-$4.75 
    ** Analysts expect an average of $4.63 per share - LSEG data
    ** RVTY sees annual revenue in the range of $2.77 bln to
$2.79 bln vs prior est. of $2.76 bln to $2.82 bln
    ** Co's Q2 results beat Wall Street estimates
    ** Reports 3% YoY increase in its diagnostic unit's Q2
organic revenue 
    ** Twelve brokerages rate RVTY "buy" or higher, while eight
rate it "hold"; their median PT is $125 - LSEG data 
    ** As of last close, stock up more than 5% YTD 

 (Reporting by Purvi Agarwal in Bengaluru)
 ((Purvi.Agarwal@thomsonreuters.com))