Revvity (RVTY - Free Report) 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.
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 - Free Report) , 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 (RVTY - Free Report) 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.
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 - Free Report) , 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).
Free Report – The Bitcoin Profit Phenomenon
Zacks Investment Research has released a Special Report to help you pursue massive profits from the world’s first and largest decentralized form of money.
No guarantees for the future, but in the past three presidential election years, Bitcoin’s returns were as follows: 2012 +272.4%, 2016 +161.1%, and 2020 +302.8%.
Zacks predicts another significant surge. Click below for Bitcoin: A Tumultuous Yet Resilient History.
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