TMO - Revvity: Continued Struggles 2024 Becoming A Lost Year
2024-07-03 11:58:05 ET
Summary
- Revvity, Inc., formerly PerkinElmer, has struggled post-pandemic due to poor capital allocation decisions, leading to stagnant growth and disappointing financial performance.
- With 2024 set up to become another lost year, in terms of growth, it is clear that the company is underperforming.
- While Revvity shares are down to multi-year lows, valuation remains demanding, and the current situation does not automatically look attractive.
Towards the end of last year, I believed that more was needed than a name change in the case of Revvity, Inc. ( RVTY ) as the former PerkinElmer business changed its name after a turbulent period of time....
Revvity: Continued Struggles, 2024 Becoming A Lost Year