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Revvity (RVTY) Stock Jumps 4.1%: Will It Continue to Soar?

Zacks Equity Research
·2-min read

Revvity (RVTY) shares rallied 4.1% in the last trading session to close at $110.72. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 2.6% loss over the past four weeks.

The prices are likely to have moved higher in anticipation of positive first quarter results, scheduled to be announced on Apr 29.

This maker of scientific instruments is expected to post quarterly earnings of $0.94 per share in its upcoming report, which represents a year-over-year change of -6.9%. Revenues are expected to be $647.02 million, down 4.1% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

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For Revvity, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RVTY going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Revvity belongs to the Zacks Medical Services industry. Another stock from the same industry, Premier, Inc. (PINC), closed the last trading session 1.4% higher at $21.64. Over the past month, PINC has returned -0.4%.

Premier's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.47. Compared to the company's year-ago EPS, this represents a change of -19%. Premier currently boasts a Zacks Rank of #3 (Hold).

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Revvity Inc. (RVTY) : Free Stock Analysis Report

Premier, Inc. (PINC) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research