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Revvity (RVTY) Launches New System for Autoimmune Diagnostics

Revvity, Inc. RVTY announced that its subsidiary EUROIMMUN has introduced the UNIQO 160 (CE-IVDR), a new automated system for indirect immunofluorescence test (IIFT), for autoimmune disease diagnostics.

The subsidiary offers a wide range of reagents for autoimmune diagnostics, antigen detection, molecular genetic diagnostics, allergy diagnostics and infection diagnostics.

The UNIQO 160 is an all-in-one solution that automates the entire IIFT process, from sample preparation to image analysis, and delivers fast and reliable results. The system is now available in countries accepting the CE mark.

The all-in-one solution can process 160 primary samples and 18 slides per run. It can automatically identify samples, reagents and slides by barcode.

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The UNIQO 160 also covers incubated slides with a mounting medium and a cover glass to protect them from drying out.

The system is compatible with the EUROPattern Classifier, a software platform that uses artificial intelligence methods to facilitate final evaluation and propose analytical results. The software is expected to become available later this year.

EUROIMMUN received its certificate of compliance with the European In Vitro Diagnostic Medical Device Regulation in May 2023.

Recent Key Development

Revvity was formed following the divestment of Applied, Food and Enterprise Services (AES) by the erstwhile PerkinElmer. In March, PerkinElmer divested AES business (which was part of Discovery & Analytical Solutions) to an investment firm named New Mountain Capital.

In April, PerkinElmer announced that its shareholders approved a proposal to change the company’s name to Revvity. The change came into effect from Apr 26. The ticker also changed from PKI to RVTY effective May 16. Following the divestment, the company now consists of the high-growth Life Sciences and Diagnostics business.

Please note that the AES business is now a private company that uses the PerkinElmer tradename.

Revvity Inc. Price

Revvity Inc. Price
Revvity Inc. Price

Revvity Inc. price | Revvity Inc. Quote

Zacks Rank & Stocks to Consider

Revvity currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks from the broader medical space are Merit Medical Systems MMSI, West Pharmaceutical Services WST and Perrigo PRGO, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Merit Medical Systems has an estimated long-term growth rate of 11%. The company’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 20.22%.

So far this year, MMSI’s shares have risen 18.9% compared with the industry’s 8.7% growth.

West Pharmaceutical Services has an estimated long-term growth rate of 6.3%. Its earnings surpassed estimates in three of the trailing four quarters and missed the same once, the average surprise being 13.61%.

So far this year, WST’s shares have gained 49.1% compared with the industry’s 8.7% growth.

Perrigo’s earnings are expected to improve 24.6% in 2023. The strong momentum is likely to continue in 2024 as well. PRGO’s earnings surpassed estimates in two of the trailing four quarters and missed the same twice, the average negative surprise being 0.79%.

The company has lost 11.5% so far this year against the industry’s 4.8% growth.

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Perrigo Company plc (PRGO) : Free Stock Analysis Report

West Pharmaceutical Services, Inc. (WST) : Free Stock Analysis Report

Revvity Inc. (RVTY) : Free Stock Analysis Report

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