The Vanguard Group, Inc. recently announced the acquisition of new stake in Viatris Inc. (NASDAQ:VTRS). The institutional investor has increased its shareholding in the Healthcare company by 0.92% to 141.6 million shares with purchase of 1.3 million shares. This fresh investment now brings its stake to 11.68% valued currently at $1.43 billion. In addition, SSgA Funds Management, Inc. raised its holdings by 3.55 million to 61.63 million shares. And Camber Capital Management LP has lifted its position by 30.43% or 7.0 million shares – to 30.0 million shares.
With over 7.28 million Viatris Inc. (VTRS) shares trading Monday and a closing price of $11.09 on the day, the dollar volume was approximately $80.76 million. The shares have shown a negative half year performance of -4.64% and its price on 11/21/22 gained nearly 0.82%. Currently, there are 1.21B common shares owned by the public and among those 1.21B shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 13 analysts who have offered their price forecasts for VTRS have a consensus price objective of $12.80. The analysts have set the share’s price value over the next 12 months at a high of $16.00 and a low of $10.00. The average price target is 16.43% above its recent price level and a downside to the estimated low will see the stock lose -10.9% over that period. But an upside of 30.69% will see the stock hit the forecast high price target while median target price for the stock is $12.50.
Insiders at the company have transacted a total of 135 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 82 of these insider trades were purchases, accounting for 1,509,308 shares. Insider sales of the common stock occurred on 53 occasions, with total insider shares sold totaling 1,375,093 shares.
The top 3 mutual fund holders in Viatris Inc. are Vanguard Total Stock Market Index, Vanguard Mid Cap Index Fund, and Vanguard 500 Index Fund. Vanguard Total Stock Market Index owns 36.41 million shares of the company’s stock, all valued at over $368.79 million. The company bought an additional 0.18 million shares recently to bring their total holdings to about 3.00% of the shares outstanding. Vanguard Mid Cap Index Fund bought 0.38 million shares to see its total holdings expand to 28.33 million shares valued at over $286.94 million and representing 2.34% of the shares outstanding. Vanguard 500 Index Fund bought 0.27 million shares to bring its total holdings to over 27.74 million shares at a value of $281.05 million. Vanguard 500 Index Fund now owns shares totaling to 2.29% of the shares outstanding.
Shares of Viatris Inc. (NASDAQ: VTRS) opened at $11.01, up $0.01 from a prior closing price of $11.00. However, the script later moved the day high at 11.13, up 0.82%. The company’s stock has a 5-day price change of -4.07% and 9.26% over the past three months. VTRS shares are trading -18.03% year to date (YTD), with the 12-month market performance down to -15.21% lower. It has a 12-month low price of $8.42 and touched a high of $15.60 over the same period. VTRS has an average intraday trading volume of 10.05 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 5.30%, 14.28%, and 3.85% respectively.
Institutional ownership of Viatris Inc. (NASDAQ: VTRS) shares accounts for 77.10% of the company’s 1.21B shares outstanding. Mutual fund holders own 35.15%, while other institutional holders and individual stakeholders account for 42.83% and 0.14% respectively.
It has a market capitalization of $13.40B and a beta (3y monthly) value of 1.20. The stock’s trailing 12-month PE ratio is 16.80, while the earnings-per-share (ttm) stands at $0.66. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.83% over the week and 3.29% over the month.
Analysts forecast that Viatris Inc. (VTRS) will achieve an EPS of $0.84 for the current quarter, $0.78 for the next quarter and $3.32 for 2023. The lowest estimate earnings-per-share for the quarter is $0.8 while analysts give the company a high EPS estimate of $0.93. Comparatively, EPS for the current quarter was $0.99 a year ago. Earnings per share for the fiscal year are expected to increase by 5.80%, and -3.89% over the next financial year. EPS should grow at an annualized rate of -2.85% over the next five years, compared to -25.70% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 13 brokerage firm advisors rate Viatris Inc. (VTRS) as a “Moderate Buy” at a consensus score of 2.60. Specifically, 2 Wall Street analysts polled rate the stock as a buy, while 10 of the 13 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the VTRS, a number of firms have released research notes about the stock. UBS stated their Neutral rating for the stock in a research note on November 10, 2022, with the firm’s price target at $9-$12. Piper Sandler coverage for the Viatris Inc. (VTRS) stock in a research note released on November 08, 2022 offered a Neutral rating with a price target of $10. Jefferies was of a view on October 21, 2022 that the stock is Hold, while UBS gave the stock Sell rating on June 14, 2022, issuing a price target of $9. Piper Sandler on their part issued Underweight rating on May 10, 2022.