Revvity Waiting for Demand to Fully Recover, as Macro Headwinds Still Pressure Business

With myriad acquisitions in the past few years, Revvity (formerly PerkinElmer) has been in a constant state of evolution since 2016 when the company made the transition into two new business segments, diagnostics and discovery and analytical solutions, or DAS. With the recent divestment of its Applied, Food, and Enterprise Services business in early 2023, the company is operating under a new name and will focus solely on the life sciences and diagnostics business. We believe the firm's renewed strategic focus on improving its diagnostic product mix and life sciences business will maintain returns over cost of capital and produce tangible benefits for shareholders in the long run.