On August 20, REVVITY INC rose 5.16% in regular trading, trading at $119.25/share, with turnover of $98.71 million.

On the news front, the company's Q2 earnings report released earlier significantly exceeded market expectations. Adjusted EPS came in at $1.41, beating the consensus estimate of $1.22 by 15.57%, representing a 19.49% year-over-year increase. Revenue of $729.7 million also surpassed the $709 million estimate. Management raised full-year guidance, projecting adjusted EPS of $5.30-$5.40, above the prior FactSet estimate of $5.24, with revenue guidance of $2.83-$2.86 billion. Evercore ISI subsequently raised its price target to $126, maintaining an Outperform rating.

Management noted improving biotech client demand and growing AI-related orders as incremental growth drivers, while expressing greater optimism for the second half given favorable diagnostics trends. The broader Life Sciences Tools and Services sector rallied in tandem, with Illumina up 8.0%, Repligen up 6.02%, and Danaher up 5.5%, providing additional momentum.

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