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Based in Canonsburg, Pennsylvania, Viatris Inc. (VTRS) is a global healthcare company dedicated to empowering people worldwide to live healthier lives at every stage of life. Valued at $14 billion by market cap, the company focuses on providing access to a broad range of trusted, quality medicines. Viatris leverages its strong portfolio of pharmaceutical products, including generics, branded medicines, complex generics, and biosimilars. The company's commitment to sustainability and innovation drives its operations across more than 165 countries and territories. Viatris is scheduled to announce its fiscal Q2 earnings results before the market opens on Thursday, Aug. 8.
Ahead of the event, analysts expect VTRS to report a profit of $0.68 per share, down 9.3% from $0.75 per share in the year-ago quarter. In the last four quarters, the company has surpassed Wall Street’s bottom-line estimates in two and missed on other occasions.
Viatris’ adjusted earnings of $0.67 per share for the last quarter missed the consensus estimate by 1.5%. Lower sales in developed markets and declines in critical brands caused the company’s Q1 results to miss forecasts.
For fiscal 2024, analysts expect VTRS to report EPS of $2.72, up 7.2% from $2.93 in fiscal 2023.
VTRS stock has gained 9.9% on a YTD basis, underperforming the broader S&P 500 Index's ($SPX) 14.1% gains and the iShares U.S. Pharmaceuticals ETF’s (IHE) 11.9% returns over the same time frame.
VTRS shares fell nearly 5% after the company lowered its full-year revenue forecast to a range of $14.98 billion to $15.48 billion, down from the earlier projection of $15.25 billion to $15.75 billion.
The consensus opinion on VTRS stock is cautious, with an overall “Hold” rating. Of the seven recommendations, it has a “Strong Buy,” four “Hold” ratings, one “Moderate Sell,” and one “Strong Sell.” VTRS’ average analyst price target is $12.83, indicating a potential upside of 6.7% from the current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
