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Revvity (RVTY) Launches New Molecular Testing for Newborns
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Revvity, Inc. (RVTY - Free Report) announced the launch of its latest breakthrough — the EONIS Q system. This innovative platform marks a significant leap in the molecular testing landscape for spinal muscular atrophy (SMA) and severe combined immunodeficiency (SCID) in newborns. The launch aligns with global priorities, such as the European Alliance for Newborn Screening mandate to screen all newborns for SMA by 2025.
Immediate detection is necessary for inherited conditions like SMA and SCID, where early intervention can help a child get timely treatment, thereby avoiding lifetime difficulties.
The EONIS Q system introduces an easy-to-use qPCR workflow, comprising the EONIS Q96 instrument, the EONIS SCID-SMA kit and the dedicated EONIS EASI software. Revvity believes that the new system will play a crucial role in breaking down barriers to adopt these tests by making molecular testing for SMA and SCID more streamlined without compromising on quality, speed, or accuracy.
Price Performance
Shares of RVTY have declined 37% year to date compared with the industry’s 11.9% decrease. The S&P 500 has increased 19.4% in the said time frame.
Image Source: Zacks Investment Research
Fast, Accurate Results and Less Waste
The EONIS Q system has a turnaround time of approximately three hours from sample-in to result. Compared to traditional wet qPCR solutions, it surpasses industry standards in software capability, eliminating wash steps and reducing hands-on time. The system uses minimal consumables and one-time use plasticware, thereby can help laboratories to optimize resources and save cost.
Strengthening Global Foothold
Revvity, with more than three decades of experience in newborn screening, annually screens around 40 million newborns worldwide for life-threatening diseases. The compact size and smaller physical footprint of the EONIS Q workflow will allow it to cater to labs of all sizes, including those without a PCR clean room. This positions Revvity at the forefront of advancing newborn screening priorities globally, aligning with advocacy groups' mandates and contributing to progress in achieving these crucial screening goals.
Per a report by Global Market Insights, the molecular testing industry is anticipated to reach $36 billion by 2032 (from $25 billion in 2022), at a CAGR of approximately 3.5%. Factors like technological advances, awareness toward early disease diagnosis, rising geriatric population and increasing incidences of infectious diseases are expected to drive the market.
This represents a significant opportunity for Revvity as it continues to build its commercial portfolio by adding novel diagnostic systems.
Currently, Revvity carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader medical space are DaVita Inc. (DVA - Free Report) , Biodesix(BDSX - Free Report) and Integer Holdings Corporation (ITGR - Free Report) .
DaVita, sporting a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 18.3%. DVA’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 36.55%. You can see the complete list of today’s Zacks #1 Rank stocks here.
DaVita’s shares have risen 35.9% year to date compared with the industry’s 2.3% growth.
Biodesix, carrying a Zacks Rank #2 (Buy) at present, has an estimated growth rate of 32.3% for 2024. BDSX’s earnings surpassed estimates in three of the trailing four quarters and missed the same in one, delivering an average surprise of 9.76%.
Biodesix’s shares have lost 35.2% year to date compared with the industry’s 11.9% decline.
Integer Holdings, sporting a Zacks Rank of 1 at present, has an estimated long-term growth rate of 15.8%. ITGR’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 11.9%.
Integer Holdings’ shares have rallied 27.4% year to date against the industry’s 4.9% decline.
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Revvity (RVTY) Launches New Molecular Testing for Newborns
Revvity, Inc. (RVTY - Free Report) announced the launch of its latest breakthrough — the EONIS Q system. This innovative platform marks a significant leap in the molecular testing landscape for spinal muscular atrophy (SMA) and severe combined immunodeficiency (SCID) in newborns. The launch aligns with global priorities, such as the European Alliance for Newborn Screening mandate to screen all newborns for SMA by 2025.
Immediate detection is necessary for inherited conditions like SMA and SCID, where early intervention can help a child get timely treatment, thereby avoiding lifetime difficulties.
The EONIS Q system introduces an easy-to-use qPCR workflow, comprising the EONIS Q96 instrument, the EONIS SCID-SMA kit and the dedicated EONIS EASI software. Revvity believes that the new system will play a crucial role in breaking down barriers to adopt these tests by making molecular testing for SMA and SCID more streamlined without compromising on quality, speed, or accuracy.
Price Performance
Shares of RVTY have declined 37% year to date compared with the industry’s 11.9% decrease. The S&P 500 has increased 19.4% in the said time frame.
Image Source: Zacks Investment Research
Fast, Accurate Results and Less Waste
The EONIS Q system has a turnaround time of approximately three hours from sample-in to result. Compared to traditional wet qPCR solutions, it surpasses industry standards in software capability, eliminating wash steps and reducing hands-on time. The system uses minimal consumables and one-time use plasticware, thereby can help laboratories to optimize resources and save cost.
Strengthening Global Foothold
Revvity, with more than three decades of experience in newborn screening, annually screens around 40 million newborns worldwide for life-threatening diseases. The compact size and smaller physical footprint of the EONIS Q workflow will allow it to cater to labs of all sizes, including those without a PCR clean room. This positions Revvity at the forefront of advancing newborn screening priorities globally, aligning with advocacy groups' mandates and contributing to progress in achieving these crucial screening goals.
Per a report by Global Market Insights, the molecular testing industry is anticipated to reach $36 billion by 2032 (from $25 billion in 2022), at a CAGR of approximately 3.5%. Factors like technological advances, awareness toward early disease diagnosis, rising geriatric population and increasing incidences of infectious diseases are expected to drive the market.
This represents a significant opportunity for Revvity as it continues to build its commercial portfolio by adding novel diagnostic systems.
Revvity Inc. Price
Revvity Inc. price | Revvity Inc. Quote
Zacks Rank & Stocks to Consider
Currently, Revvity carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the broader medical space are DaVita Inc. (DVA - Free Report) , Biodesix(BDSX - Free Report) and Integer Holdings Corporation (ITGR - Free Report) .
DaVita, sporting a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 18.3%. DVA’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 36.55%. You can see the complete list of today’s Zacks #1 Rank stocks here.
DaVita’s shares have risen 35.9% year to date compared with the industry’s 2.3% growth.
Biodesix, carrying a Zacks Rank #2 (Buy) at present, has an estimated growth rate of 32.3% for 2024. BDSX’s earnings surpassed estimates in three of the trailing four quarters and missed the same in one, delivering an average surprise of 9.76%.
Biodesix’s shares have lost 35.2% year to date compared with the industry’s 11.9% decline.
Integer Holdings, sporting a Zacks Rank of 1 at present, has an estimated long-term growth rate of 15.8%. ITGR’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 11.9%.
Integer Holdings’ shares have rallied 27.4% year to date against the industry’s 4.9% decline.