Bullish indicating open at $55-$60, IPO prices at $37
WALTHAM, Mass. - Revvity, Inc. (NYSE: RVTY), a company currently valued at $4.3 billion and rated ’FAIR’ by InvestingPro’s comprehensive health scoring system, has received approval from the U.S. Food and Drug Administration (FDA) for its Auto-Pure 2400 liquid handling platform to be used in conjunction with the T-SPOT.TB test, a development poised to enhance the efficiency of latent tuberculosis (TB) diagnostics. The FDA’s nod to the platform, which has been available outside the U.S. since 2024, represents a significant step forward in the global effort to combat infectious diseases.
The Auto-Pure 2400 system, which integrates liquid handling with magnetic cell isolation technology, allows laboratories to process a higher volume of latent TB tests without sacrificing clinical accuracy. According to Yves Dubaquie, senior vice president of diagnostics at Revvity, the automation of the T-SPOT.TB testing process will lead to increased throughput, reliability, and ultimately, better patient outcomes. InvestingPro analysis indicates that net income is expected to grow this year, with analysts maintaining a bullish consensus on the company’s prospects.
This integrated testing system can handle up to 24 samples per run and complete Day 1 of the T-SPOT.TB test in under 3.5 hours, requiring only one mid-run intervention by the user. The T-SPOT.TB test, recognized by the World Health Organization (WHO) as the sole ELISPOT-based interferon-gamma release assay (IGRA), includes a cell number normalization step that minimizes the variability seen in other IGRAs and leads to reproducible results.
The test is also noted for its reduced rate of indeterminate results, decreased necessity for repeat testing, and consistent performance in patients with compromised immune systems.
Revvity, a company that prides itself on transforming scientific challenges into breakthroughs, reported revenues exceeding $2.7 billion in 2024 and employs approximately 11,000 people. The company caters to a diverse customer base across the pharmaceutical and biotech industries, diagnostic labs, academia, and governments, with a presence in more than 160 countries. According to InvestingPro, the company maintains strong financial metrics with a current ratio of 1.32 and has been consistently profitable over the last twelve months. Discover more insights about Revvity and access detailed analysis through InvestingPro’s comprehensive Research Report, part of their coverage of over 1,400 US equities.
The information for this article is based on a press release statement from Revvity.
In other recent news, Parkland Corporation reported its fourth-quarter 2024 earnings, which fell short of analyst expectations. The company posted earnings per share (EPS) of $0.57, missing the anticipated $0.6822, and reported revenue of $6.73 billion, below the forecasted $7.64 billion. S&P Global Ratings revised Parkland’s outlook to negative from stable due to weaker than expected financial performance at the end of 2024, citing challenging macroeconomic conditions affecting fuel volumes and convenience store sales. Despite these challenges, Parkland’s international segment showed strong growth, with EBITDA up 9% year-over-year. The U.S. segment, however, faced difficulties, experiencing a $7 million decline in EBITDA compared to the previous year. The refining segment also saw a significant drop in EBITDA, from $106 million to $60 million. Parkland has initiated a strategic review to maximize shareholder value and plans to restore leverage through asset sales and cost-saving initiatives. S&P Global Ratings affirmed Parkland’s ’BB’ issuer credit rating but expressed concerns about the company’s ability to restore its EBITDA in 2025.
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