Yahoo Finance Revvity's (RVTY) New Launch to Boost Tuberculosis Testing
Revvity, Inc. RVTY recently announced the launch of the Auto-Pure 2400 liquid handler from Allsheng for use with its T-SPOT.TB test. The solution, which has an intuitive software user interface, is expected to simplify lab workflows.
The latest product is expected to significantly boost Revvity’s Diagnostics segment and solidify its foothold in the infectious diseases space.
Significance of the Launch
Per Revvity, the easy-to-use Auto-Pure 2400 platform has been designed to provide efficient workflows in the lab. With the combination of the accuracy of the T-SPOT.TB test and the efficiency of the Auto-Pure 2400 system, labs, clinicians and patients are expected to benefit from the resultant powerful solution.
The Auto-Pure 2400 liquid handler for use with the T-SPOT.TB test, which has been designed for testing up to 24 samples per run, completes day-1 T-SPOT.TB workflows in under 3.5 hours and requires only a single mid-run user interaction.
Per management, the ability to use the Auto-Pure 2400 platform with Revvity’s T-SPOT.TB test will likely provide labs with an efficient workflow. This, in turn, is expected to allow latent TB testing to be run in a mid-high-volume setting without compromising on the clinical performance of the test.
Industry Prospects
Per a report by Data Bridge Market Research, the global infectious diseases market was valued at $20.52 billion in 2023 and is anticipated to reach $32.14 billion by 2031 at a CAGR of approximately 5.8%. Factors like the rising prevalence of infectious diseases and the increasing demand for rapid diagnostic solutions are expected to drive the market.
Given the market potential, the latest launch is expected to significantly boost Revvity’s global business.
Recent Launches
This month, Revvity announced that its software and informatics division, Revvity Signals, will launch Signals Synergy. Per the company, it is a software solution designed to drive greater collaboration, project management and data exchange between pharmaceutical and biotechnology sponsors with their external contract partners.
Last month, Revvity introduced the new Signals ChemDraw offering through its software and informatics division, Revvity Signals Software. The innovative chemistry suite is expected to transform the way researchers in the pharmaceutical and non-pharmaceutical chemical industries and academia develop and communicate complex chemical concepts and collaborate across disciplines.
The same month, Revvity introduced a flexible end-to-end workflow solution for newborn research. This will likely enable the users to utilize different instruments, reagents and databases based on a lab’s requirements.
Price Performance
Shares of Revvity have lost 21.8% in the past year against the industry’s 5.9% rise and the S&P 500’s 25.9% growth.
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Zacks Rank & Stocks to Consider
Currently, Revvity carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader medical space are IDEXX Laboratories, Inc. IDXX, Becton, Dickinson and Company BDX, popularly known as BD, and Ecolab Inc. ECL.
IDEXX, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 11.6%. IDXX’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 8.3%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
IDEXX’s shares have gained 0.3% compared with the industry’s 5.2% rise in the past year.
BD, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 9.4%. BDX’s earnings surpassed estimates in three of the trailing four quarters and broke even once, with the average being 4.6%.
BD has lost 10.5% against the industry’s 5.5% rise in the past year.
Ecolab, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 13.3%. ECL’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 1.7%.
Ecolab’s shares have rallied 34.5% against the industry’s 8.7% decline in the past year.
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