Welcome to our dedicated page for Revvity news (Ticker: RVTY), a resource for investors and traders seeking the latest updates and insights on Revvity stock.
Revvity, Inc. (RVTY) is a leading company dedicated to enhancing human and environmental health. The company collaborates with scientists, clinicians, and government agencies to develop more effective diagnostics and therapies. Additionally, Revvity ensures the safety of our food and air by detecting contaminants that could harm the environment and public health.
Revvity operates under two main segments: Diagnostics and Discovery & Analytical Solutions. The Diagnostics segment focuses on areas such as immunodiagnostics, reproductive health, and applied genomics. This division provides crucial tools and tests for genetic screening and various health diagnostics. Meanwhile, the Discovery & Analytical Solutions segment addresses life science research and industrial applications, offering products and services for environmental and food analysis, as well as informatics and enterprise software solutions.
In recent achievements, Revvity has been at the forefront of developing innovative solutions that transform raw data into actionable insights, thus improving public health and environmental safety. The company’s systems are instrumental in rapidly detecting both known and unknown contaminants in food, water, and air. They also play a critical role in ensuring compliance with health and safety standards.
Revvity's partnerships span across the pharmaceutical, biomedical, chemical, environmental, and industrial markets, making it a versatile player in multiple sectors. The company’s commitment to quality and innovation has led to significant advancements in research and diagnostics, making it a key contributor to global health and safety.
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.
Revvity (NYSE: RVTY) announced that its Board of Directors has declared a quarterly dividend of $0.07 per share of common stock. The dividend will be paid on February 7, 2025, to shareholders of record as of the close of business on January 17, 2025.
Revvity, Inc. (NYSE: RVTY) has launched Revvity Transcribe AI, an innovative optical character recognition (OCR) service that converts handwritten text on test request forms into digital format. This solution aims to streamline workflows and reduce manual data entry tasks in clinical laboratories. Key features include:
- 40% improvement in overall data entry workflow speed, including data validation
- Especially valuable for newborn screening (NBS) laboratories
- Compatible with Revvity's EVOYA™ platform for NBS software
- Secure data processing with ISO27001 compliance
The service allows laboratory personnel to focus on other essential tasks by automating the manually intensive process of transcribing handwritten information. Revvity Transcribe AI will be introduced at the 2024 APHL Newborn Screening Symposium in Omaha, Nebraska.
Revvity, Inc. (NYSE: RVTY) has released its annual Impact Report, showcasing the company's sustainability, social, and governance initiatives. Key highlights include:
- A 7% reduction in Scope 1 and 2 emissions in 2023
- Implementation of a sustainability due diligence program for suppliers
- 75% employee satisfaction with 85% participation in a survey
- Maintained 40% female representation in leadership positions
- Expanded gender pay gap analysis
- Introduction of new corporate policies on ethical AI, sustainable procurement, and cyber risk management
- Creation of Revvity Access STEM Scholarships
CEO Prahlad Singh emphasized the company's commitment to creating a healthier, cleaner, and more inclusive world through innovative solutions and sustainability initiatives.
Revvity, Inc. (NYSE: RVTY) has announced its plans to release third quarter 2024 financial results before the market opens on Monday, November 4, 2024. The company will host a conference call at 8:00 a.m. ET on the same day to discuss these results. Prahlad Singh, president and CEO, and Max Krakowiak, CFO, will lead the conference call. Investors can access a live audio webcast of the call through the Investors section of Revvity's website.
Revvity (NYSE: RVTY) has announced the launch of the EURORealTime APOE assay, an in-vitro diagnostic test for APOE genotyping in European countries accepting the CE mark. This test is important for assessing a patient's risk of side effects before starting anti-amyloid therapy for Alzheimer's disease.
The assay allows simultaneous detection of the three most frequent APOE forms (E2, E3, and E4), with E4 carriers having the highest risk for ARIA (Amyloid-Related Imaging Abnormalities) under therapy. The test requires only one reaction using genomic DNA from a single blood sample and can be automated on Revvity instruments, including the EUROIMMUN PreNAT II and chemagic 360 platforms.
This new solution will enable clinicians to take a more personalized approach in anti-amyloid treatment for Alzheimer's patients by providing additional patient information through APOE genotyping.
Revvity (NYSE: RVTY) has announced its participation in two upcoming investor conferences in September 2024. The company will present at the 2024 Wells Fargo Healthcare Conference in Boston on September 4, with CFO Max Krakowiak speaking at 8:45 a.m. ET. Additionally, Revvity will attend the 2024 Baird Global Healthcare Conference in New York City on September 10, where Steve Willoughby, SVP of investor relations, ESG, and risk, will present at 12:15 p.m. ET.
Both presentations will provide updates on Revvity's strategic priorities and will be available via live audio webcasts on the company's website. Replays will be accessible for at least 30 days after the events on the Revvity Investor Relations website.
Revvity reported Q2 2024 financial results with revenue of $692 million, down 2% reported and 1% organic. GAAP EPS was $0.45, up from $0.28 year-over-year, while adjusted EPS from continuing operations was $1.22, slightly up from $1.21. The company raised its full-year 2024 adjusted EPS guidance to $4.70-$4.80.
Segment performance varied: Life Sciences revenue decreased 7% to $314 million, with adjusted operating margin at 35.8%. Diagnostics revenue increased 1% to $378 million, with adjusted operating margin improving to 25.9%. Revvity updated its full-year revenue guidance to $2.77-$2.79 billion, assuming 2% organic growth.
Revvity's Board of Directors has declared a quarterly dividend of $0.07 per share of common stock. This dividend will be paid on November 8, 2024, to shareholders of record at the close of business on October 18, 2024. Revvity, traded on the New York Stock Exchange under the ticker symbol RVTY, continues its practice of rewarding shareholders through regular dividend payments. This announcement demonstrates the company's commitment to providing consistent returns to its investors, even as it navigates the current economic landscape.
Revvity (NYSE: RVTY) will announce its Q2 2024 financial results on July 29, 2024, before the market opens. A conference call hosted by CEO Prahlad Singh and CFO Max Krakowiak will follow at 8:00 a.m. ET to discuss the results. Investors can access the live audio webcast via the company's website.
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