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Revvity's (RVTY) Launch to Boost Pharma-Contract Partner Tie-Up
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Revvity, Inc. (RVTY - Free Report) recently announced that its software and informatics division, Revvity Signals, will launch Signals Synergy. Per the company, it is a software solution designed to drive greater collaboration, project management and data exchange between pharmaceutical and biotechnology sponsors with their external contract partners.
Revvity is expected to officially introduce Signals Synergy at the ongoing Bio-IT World Conference & Expo in Boston, MA.
The latest product is expected to significantly boost Revvity’s Signals Software portfolio and solidify its foothold in the niche space.
Significance of the Launch
Per Revvity, Signals Synergy is expected to expand its Signals Notebook and Signals Research Suite offerings to serve as a data steward and project management layer between sponsors and contract partners. These capabilities will likely enable Signals Synergy to streamline processes, enhance sustainability and reduce the errors and delays commonly associated with conventional systems. This will likely address the challenge of relying on email or file-sharing platforms to report complex scientific findings.
Per management, Signals Synergy will likely merge scientific project management with efficient data sharing into one seamless platform.
Industry Prospects
Per a report by Transparency Market Research, the global healthcare informatics market was estimated at $35.6 billion in 2022 and is anticipated to reach $100.4 billion by 2031 at a CAGR of 12.6%. Factors like the increased automation in clinical laboratories and the growing adoption of electronic health records are expected to drive the market.
Given the market potential, the latest launch is expected to significantly boost Revvity’s global business.
Notable Launches
Last month, Revvity introduced the new Signals ChemDraw offering through its software and informatics division, Revvity Signals Software. The innovative chemistry suite is expected to transform the way researchers in the pharmaceutical and non-pharmaceutical chemical industries and academia develop and communicate complex chemical concepts and collaborate across disciplines.
The same month, Revvity introduced a flexible end-to-end workflow solution for newborn research. This will likely enable the users to utilize different instruments, reagents and databases based on a lab’s requirements.
In February, Revvity Signals unveiled the Signals Clinical solution. It is a software-as-a-service, end-to-end clinical data science platform designed to centralize all clinical trial data, providing fast, actionable insights for quicker clinical decisions and accelerated market delivery of therapeutics.
Price Performance
Shares of Revvity have lost 26.2% in the past year compared with the industry’s 2.2% decline. The S&P 500 has witnessed 22.6% growth in the said time frame.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Currently, Revvity carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are DaVita Inc. (DVA - Free Report) , Cardinal Health, Inc. (CAH - Free Report) and Cencora, Inc. (COR - Free Report) .
DaVita, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 12.1%. DVA’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 35.6%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
DaVita’s shares have gained 54.7% compared with the industry’s 12.4% rise in the past year.
Cardinal Health, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 14.2%. CAH’s earnings surpassed estimates in each of the trailing four quarters, with the average being 15.6%.
Cardinal Health has gained 34.5% compared with the industry’s 4.5% rise in the past year.
Cencora, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 9.8%. COR’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 6.7%.
Cencora’s shares have rallied 42.1% against the industry’s 2.2% decline in the past year.
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Revvity's (RVTY) Launch to Boost Pharma-Contract Partner Tie-Up
Revvity, Inc. (RVTY - Free Report) recently announced that its software and informatics division, Revvity Signals, will launch Signals Synergy. Per the company, it is a software solution designed to drive greater collaboration, project management and data exchange between pharmaceutical and biotechnology sponsors with their external contract partners.
Revvity is expected to officially introduce Signals Synergy at the ongoing Bio-IT World Conference & Expo in Boston, MA.
The latest product is expected to significantly boost Revvity’s Signals Software portfolio and solidify its foothold in the niche space.
Significance of the Launch
Per Revvity, Signals Synergy is expected to expand its Signals Notebook and Signals Research Suite offerings to serve as a data steward and project management layer between sponsors and contract partners. These capabilities will likely enable Signals Synergy to streamline processes, enhance sustainability and reduce the errors and delays commonly associated with conventional systems. This will likely address the challenge of relying on email or file-sharing platforms to report complex scientific findings.
Per management, Signals Synergy will likely merge scientific project management with efficient data sharing into one seamless platform.
Industry Prospects
Per a report by Transparency Market Research, the global healthcare informatics market was estimated at $35.6 billion in 2022 and is anticipated to reach $100.4 billion by 2031 at a CAGR of 12.6%. Factors like the increased automation in clinical laboratories and the growing adoption of electronic health records are expected to drive the market.
Given the market potential, the latest launch is expected to significantly boost Revvity’s global business.
Notable Launches
Last month, Revvity introduced the new Signals ChemDraw offering through its software and informatics division, Revvity Signals Software. The innovative chemistry suite is expected to transform the way researchers in the pharmaceutical and non-pharmaceutical chemical industries and academia develop and communicate complex chemical concepts and collaborate across disciplines.
The same month, Revvity introduced a flexible end-to-end workflow solution for newborn research. This will likely enable the users to utilize different instruments, reagents and databases based on a lab’s requirements.
In February, Revvity Signals unveiled the Signals Clinical solution. It is a software-as-a-service, end-to-end clinical data science platform designed to centralize all clinical trial data, providing fast, actionable insights for quicker clinical decisions and accelerated market delivery of therapeutics.
Price Performance
Shares of Revvity have lost 26.2% in the past year compared with the industry’s 2.2% decline. The S&P 500 has witnessed 22.6% growth in the said time frame.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Currently, Revvity carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are DaVita Inc. (DVA - Free Report) , Cardinal Health, Inc. (CAH - Free Report) and Cencora, Inc. (COR - Free Report) .
DaVita, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 12.1%. DVA’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 35.6%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
DaVita’s shares have gained 54.7% compared with the industry’s 12.4% rise in the past year.
Cardinal Health, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 14.2%. CAH’s earnings surpassed estimates in each of the trailing four quarters, with the average being 15.6%.
Cardinal Health has gained 34.5% compared with the industry’s 4.5% rise in the past year.
Cencora, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 9.8%. COR’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 6.7%.
Cencora’s shares have rallied 42.1% against the industry’s 2.2% decline in the past year.