Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Revvity, Inc. (“Revvity” or “the Company”) (NYSE: RVTY). Investors who purchased Revvity securities are encouraged to obtain additional information and assist the investigation.
The investigation concerns whether Revvity has violated federal securities laws.
Investigation Details:
On October 30, 2023, Revvity reported disappointing results for its third quarter of 2023, including non-GAAP earnings-per-share of $1.18, missing consensus estimates by $0.01, and revenue of $670.74 million, missing consensus estimates by $23.78 million and representing a 5.8% year-over-year decline. The Company also slashed its full year 2023 revenue guidance to between $2.72 billion and $2.74 billion, compared to its prior revenue forecast of $2.8 billion to $2.85 billion, as well as analysts’ estimates of $2.83 billion. On a conference call to discuss Revvity’s results, the Company’s Chief Financial Officer noted that there was a “noticeable step down” in demand from Revvity’s pharmaceutical and biotech clients, particular in September. In addition, Revvity advised that weakness in demand for its diagnostics and contract research solutions would likely continue at least into the first half of the next year. On this news, Revvity’s stock price fell $15.79 per share, or 16.13%, to close at $82.08 per share on October 30, 2023.
What’s Next?
If you are aware of any facts relating to this investigation or purchased Revvity securities, you can assist this investigation. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660.
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About Bronstein, Gewirtz & Grossman, LLC
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