Revvity, Inc. (NYSE:RVTY) reported better-than-expected third-quarter earnings on Monday.
The company posted quarterly earnings of $1.28 per share which beat the analyst consensus estimate of $1.13 per share. The company reported quarterly sales of $684.05 million which beat the analyst consensus estimate of $679.65 million.
Revvity also authorized a new $1 billion share repurchase program.
"We performed well during the third quarter with a return to positive revenue growth, strong margins, and another period of excellent cash flow," said Prahlad Singh, president and chief executive officer of Revvity. "The impact we are having on our customers every day to help to advance science and healthcare is profound, and we are optimistic that we can increasingly make a meaningful difference around the world as we continue to innovate and partner with purpose."
Revvity shares gained 0.4% to trade at $125.37 on Tuesday.
These analysts made changes to their price targets on Revvity following earnings announcement.
- Raymond James analyst Andrew Cooper maintained Revvity with an Outperform and raised the price target from $144 to $146.
- Baird analyst Catherine Ramsey maintained the stock with an Outperform and increased the price target from $136 to $138.
- TD Cowen analyst Dan Brennan maintained Revvity with a Buy and raised the price target from $141 to $144.
- Bernstein analyst Eve Burstein maintained Revvity with an Outperform and cut the price target from $150 to $145.
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