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Revvity, Inc. (RVTY), headquartered in Waltham, Massachusetts, is a leading provider of health sciences solutions, technologies, and diagnostic services. Valued at $11.4 billion by market cap, the company focuses on translational multi-omics technologies, biomarker identification, imaging, prediction, screening, detection, diagnosis, informatics, and other areas.
Companies worth $10 billion or more are generally described as “large-cap stocks,” and RVTY perfectly fits that description, with its market cap exceeding this mark, underscoring its size, influence, and dominance within the diagnostics & research industry. Revvity’s strengths include diversification, scale, cross-business synergies, brand equity, financial resilience, and technological capabilities. These strengths enable the company to innovate, adapt to market changes, and maintain a competitive edge in the healthcare and diagnostics landscape, driving growth and leadership in the industry.
Despite its notable strength, RVTY slipped 21.7% from its 52-week high of $128.29, achieved on Jan. 30. Over the past three months, RVTY stock has gained 21.3%, outperforming the Health Care Select Sector SPDR Fund’s (XLV)11.6% gains during the same time frame.
In the longer term, shares of RVTY rose 5% on a six-month basis but dipped 13.4% over the past 52 weeks, underperforming XLV’s six-month gains of 12.6% and 9.3% returns over the last year.
To confirm the bullish trend, RVTY is trading above its 50-day moving average since early October, with slight fluctuations. The stock has been trading above its 200-day moving average since late November.
On Oct. 27, RVTY shares closed down by 1.8% after reporting its Q3 results. Its revenue stood at $7 billion, up 2.2% year over year. The company’s adjusted EPS fell 7.8% from the year-ago quarter to $1.18.
RVTY’s rival, Danaher Corporation (DHR), has taken the lead over the stock, with 10.4% gains on a six-month basis and a 3.5% downtick over the past 52 weeks.
Wall Street analysts are reasonably bullish on RVTY’s prospects. The stock has a consensus “Moderate Buy” rating from the 18 analysts covering it, and the mean price target of $112.53 suggests a potential upside of 12% from current price levels.
