RVTY Stock Falls Despite the Latest Launch of Automated Instrument
Revvity, Inc. RVTY announced the launch of its new IDS i20 analytical random-access platform from EUROIMMUN. Per management, it is expected to enable full automation of chemiluminescence immunoassays (ChLIA).
The IDS i20 instrument is equipped with the ability to process up to 140 tests per hour (assay dependent) and is the latest addition to RVTY's well-established IDS i-device series.
The latest product availability is expected to boost Revvity's Immunodiagnostics product line under the broader Diagnostics segment.
Following the announcement, shares of the company lost nearly 2.9% till yesterday's closing.
Historically, the company has gained a top-line boost from its various product launches. Although the latest product availability is likely to be beneficial for RVTY's top-line growth going forward, the stock declined overall.
Revvity currently has a market capitalization of $10.67 billion. It has an earnings yield of 5.3%, favorable than the industry's 4.1%. In the last reported quarter, RVTY delivered an earnings surprise of 5.2%.
Per Revvity, the IDS i20 platform is a CE-marked and FDA-listed device that will likely allow laboratories to consolidate multiple specialty tests on a unique single instrument with greater reagent capacity and higher test throughput compared to existing offerings. The IDS i20 platform is expected to offer fully automated processing of specialty assays in endocrinology, allergy, autoimmune and infectious diseases, Alzheimer's disease and therapeutic drug monitoring.
Management believes that the IDS i20 instrument will be able to support Revvity's customers in transitioning from manual and semi-automated processing to a fully automated solution for enhanced immunodiagnostics workflows.
Per a report by Grand View Research, the global ChLIA market was estimated at $11.71 billion in 2023 and is anticipated to witness a CAGR of 4.6% between 2024 and 2030. Factors like the growing emphasis on early disease detection and increased efforts by pharmaceutical companies in drug discovery and development are likely to drive the market.
Given the market potential, the latest product launch is expected to be a significant milestone for Revvity and boost its business.
Last month, Revvity announced its first-quarter 2025 results, wherein its Diagnostics segment recorded a robust year-over-year revenue growth both on a reported and organic basis.
In March, Revvity announced the launch of EUROIMMUN's CE-marked Anti-Measles Virus ELISA 2.0 (IgG) to support the diagnosis of a measles virus infection or to determine the immune status against measles virus.
In January, Revvity received the FDA's 510(k) clearance for EUROIMMUN's automated chemiluminescence-based immunoassay test for free testosterone.
Shares of the company have lost 20.2% in the past year compared with the industry's 20.9% decline. The S&P 500 has gained 10% in the same time frame.
Image Source: Zacks Investment Research
Currently, RVTY carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Hims & Hers Health, Inc. HIMS, Cencora, Inc. COR and Integer Holdings Corporation ITGR.
Hims & Hers, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 36.5%. HIMS' earnings surpassed estimates in two of the trailing four quarters, missed once and broke even in the other, the average surprise being 19.6%. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Hims & Hers' shares have surged 217.1% compared with the industry's 13.5% growth in the past year.
Cencora, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 12.8%. COR's earnings surpassed estimates in each of the trailing four quarters, the average surprise being 6%.
Cencora has rallied 32.5% against the industry's 20.9% decline in the past year.
Integer Holdings, sporting a Zacks Rank of 1 at present, has an estimated long-term growth rate of 18.4%. ITGR's earnings surpassed estimates in three of the trailing four quarters and missed once, the average surprise being 2.8%.
Integer Holdings' shares have lost 3.7% compared with the industry's 14.7% plunge in the past year.
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This article originally published on Zacks Investment Research (zacks.com).
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