In a recent transaction, Campbell Paul, the Chief Accounting Officer and Corporate Controller of Viatris Inc (NASDAQ:VTRS), sold 26,925 shares of the company's common stock. The shares were sold at a weighted average price of $12.876 per share, totaling approximately $346,686. After this sale, Paul retains direct ownership of 126,901 shares. Additionally, he holds 318 shares indirectly through a 401(k) plan. This transaction was disclosed in a Form 4 filing with the Securities and Exchange Commission.
In other recent news, Viatris Inc. has reported substantial financial growth in its third quarter of 2024. The pharmaceutical giant's total revenues reached $3.8 billion, marking a 3% increase in operational revenue growth. The company's adjusted EBITDA and earnings per share (EPS) also saw growth, rising to $1.3 billion and $0.75 respectively.
Of note, Viatris managed to generate $866 million in free cash flow, allowing for significant debt repayment. This has reduced the company's total debt to below $15 billion. Additionally, Viatris has entered into a licensing agreement with Lexicon Pharmaceuticals (NASDAQ:LXRX) for sotagliflozin, a move aimed at enhancing its cardiovascular portfolio.
In terms of future expectations, Viatris anticipates a 2% operational revenue growth for the full year of 2024. Furthermore, the company plans to allocate $2.3 billion in free cash flow equally between shareholder returns and business development. These are among the recent developments that continue to shape Viatris' financial landscape.
InvestingPro Insights
While Campbell Paul's recent stock sale might raise eyebrows, it's essential to consider Viatris Inc's broader financial picture. According to InvestingPro data, Viatris boasts a market capitalization of $15.45 billion, reflecting its significant presence in the pharmaceutical industry. The company's price-to-book ratio of 0.78 suggests that it may be undervalued relative to its assets, potentially offering an attractive entry point for investors.
InvestingPro Tips highlight that management has been aggressively buying back shares, indicating confidence in the company's future prospects. This share repurchase activity, combined with Viatris's dividend yield of 3.71%, contributes to a high shareholder yield, which could be appealing to income-focused investors.
Despite the insider sale, Viatris has shown strong market performance, with a remarkable 50.98% price total return over the past year. The stock is currently trading near its 52-week high, with the price at 94.93% of its peak. This positive momentum is further supported by the InvestingPro Tip that net income is expected to grow this year, potentially driving further stock appreciation.
For investors seeking more comprehensive analysis, InvestingPro offers additional insights, with 11 more tips available for Viatris. These tips could provide valuable context for understanding the company's financial health and future prospects in light of recent insider transactions.
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