Life sciences company Revvity (NYSERVTY) met Wall Street’s revenue expectations in Q4 CY2024, with sales up 4.8% year on year to $729.4 million. On the other hand, the company’s full-year revenue guidance of $2.83 billion at the midpoint came in 1.3% below analysts’ estimates. Its non-GAAP profit of $1.42 per share was 3.1% above analysts’ consensus estimates.
BofA upgrades Danaher and Revvity, predicting a mixed but improving outlook for life sciences tools in fiscal year 2025 amid ongoing market challenges.
Wall Street opened higher at the start of a data-heavy week, with traders adopting an optimistic tone ahead of crucial earnings reports and economic events.
Revvity reported Q2 sales of $691.69 million, surpassing estimates, with adjusted EPS of $1.22. Life Sciences revenue fell 7%, while Diagnostics sales rose 1%. Updated 2024 guidance includes sales of $2.77-$2.79 billion and adjusted EPS of $4.70-$4.80.
U.S. stocks kicked off the week on a positive note, with all major averages edging higher in anticipation of significant events including earnings reports from tech giants like Amazon.com Inc. (NASDAQAMZN) on Tuesday and Apple Inc.
Gainers Miromatrix Medical Inc. (NASDAQMIRO) shares climbed 230.7% to $3.3401 after United Therapeutics agreed to acquire the company for $3.25 per share in cash.
