Revvity Inc Stock Price, News & Analysis

Revvity (NYSE: RVTY) has announced a strategic agreement with Element Biosciences to develop and commercialize an in vitro diagnostic (IVD) workflow solution for neonatal sequencing. The collaboration combines Revvity's expertise in newborn screening and rare disease detection with Element's AVITI™ sequencing system technology.

The partnership will deliver both an immediate research use only (RUO) version and a comprehensive IVD solution for newborn sequencing. The workflow includes Revvity's sample collection devices, dried blood spot punchers, automated nucleic acid extractors, liquid handlers, NGS library preparation kits with curated NGS panels, and software for variant calling data analysis and interpretation.

This initiative builds upon Revvity's recent introduction of an automated next-generation sequencing workflow for newborn sequencing research and supports Element's progress toward regulatory approval of their benchtop AVITI™ sequencing system.

Revvity (NYSE: RVTY) has announced its upcoming fourth quarter and full year 2024 financial results release, scheduled for January 31, 2025, before market open. The company will host a conference call at 8:00 a.m. ET on the same day.

In preliminary Q4 2024 results, Revvity expects reported revenue growth of 5% and organic revenue growth of 6% compared to the previous year, projecting quarterly revenue of approximately $730 million. The company anticipates meeting or exceeding its full year 2024 adjusted earnings per share guidance previously provided on November 4, 2024.

Additionally, CEO Prahlad Singh will present at the 43rd annual J.P. Morgan Healthcare Conference on January 13, 2025, at 8:15 a.m. PT.

Revvity (NYSE: RVTY) has received FDA 510(k) clearance for EUROIMMUN's automated chemiluminescence-based immunoassay (ChLIA) test for free testosterone. This marks a significant milestone as the first FDA-cleared test for direct quantitative measurement of free testosterone levels in human serum or plasma.

The innovative assay, which runs on the company's iSYSTM or i10TM instruments, delivers results in just 48 minutes with a throughput of nearly 60 tests per hour. The test features monoclonal antibodies for consistent performance and specificity across batches.

This advancement enhances diagnostic capabilities for conditions including hypogonadism, impotence, polycystic ovarian syndrome (PCOS), and other androgenital syndromes, offering a user-friendly, random-access platform solution for direct free testosterone measurement.

Revvity (NYSE: RVTY) has announced its participation in the 43rd annual J.P. Morgan Healthcare Conference scheduled for January 13, 2025, at 8:15 a.m. PT in San Francisco. President and CEO Prahlad Singh will present an update on the company's strategic priorities and overall direction. The presentation will be accessible through a live audio webcast, with a replay available on the Revvity Investor Relations website for a minimum of 30 days following the event.

Revvity (NYSE: RVTY) announced an expanded collaboration with Genomics England to advance genomic initiatives across the UK. The partnership focuses on the Generation Study, a research program aiming to screen up to 100,000 newborns for 200 rare genetic conditions in England. Through its Omics laboratory in Manchester, Revvity will extract DNA from cord blood samples using the chemagic 360™ instrument. The collaboration aims to advance early detection of genetic conditions in newborns while also supporting the development of genomics talent across the UK region.

Revvity (NYSE: RVTY) has announced its participation in the 7th Annual Evercore ISI HealthCONx Conference scheduled for December 3, 2024, at 8:20 a.m. ET in Coral Gables, FL. President and CEO Prahlad Singh will present an update on the company and its strategic priorities. The presentation will be accessible through a live audio webcast on the company's website's Events section, with a replay available on the Revvity Investor Relations website for at least 30 days following the event.

Scale Biosciences and Revvity's BioLegend (NYSE: RVTY) have launched the TotalSeq Phenocyte solution, a groundbreaking single-cell protein profiling technology. This innovation combines Scale Bio's Quantum Barcoding technology with BioLegend's TotalSeq antibody conjugates to enable more efficient identification and characterization of rare cell subtypes in immunology and oncology research.

The solution offers advantages over traditional methods like mass cytometry and flow cytometry by eliminating complex panel optimization and sophisticated instrumentation requirements, making it more accessible and scalable. It builds upon BioLegend's TotalSeq-A antibody panels and supports biomarker discovery without requiring dedicated instrumentation.

Revvity (NYSE: RVTY) has announced its upcoming Investor Day scheduled for November 21, 2024, at 9:00 a.m. PT. The company revealed strategic changes to its operating model, effective fiscal year 2025, including the integration of its Applied Genomics business into a new Life Sciences Solutions division.

The reorganization will result in two main reporting segments: Life Sciences (comprising Life Sciences Solutions and Software) and Diagnostics (including Immunodiagnostics and Reproductive Health). This restructuring aims to enhance operational efficiency, create synergies, and improve customer service delivery.

Revvity reported strong Q3 2024 financial results with revenue reaching $684 million, representing 2% reported and organic growth. GAAP EPS was $0.77, while adjusted EPS from continuing operations reached $1.28. The company's Diagnostics segment showed 6% growth with $383 million revenue, while Life Sciences recorded $301 million, a 2% decrease. Operating margins improved, with GAAP operating profit margin at 14.3% and adjusted operating profit margin at 28.3%. The company raised its full-year 2024 adjusted EPS guidance to $4.83-$4.87 and announced a new $1 billion share repurchase program.