Viatris director Malik Rajiv sells more than $3.5 million in company stock



Viatris Inc (NASDAQ: ) director Malik Rajiv recently sold a majority of his stake in the pharmaceutical company, according to new filings. Rajiv sold a total of 350,960 shares worth more than $3.5 million in two separate transactions.

On June 13, 2024, Rajiv sold 85,660 shares at a weighted average price of $10.5153, with stock prices ranging from $10.50 to $10.525. Following this transaction, he sold an additional 264,300 shares on June 14 at a weighted average price of $10.1789, with individual sales prices ranging from $10.17 to $10.205. These sales generated a total of $3,591,023 for the director.

Following the completion of these transactions, Rajiv's direct shareholding in Viatris Inc was significantly reduced, although he still owns a large indirect shareholding through an irrevocable trust. The latest report shows that the director directly owns 645,519 shares following the sale, and an additional 460,319 shares indirectly.

Investors often monitor insider trading activity to gain insight into a company's performance and the level of confidence its executives and directors feel. Large sales such as these sometimes lead to speculation about a company's future prospects or insiders' views on its valuation.

Viatris Inc, known for its drug formulations, has not commented on the deals. The sale is being conducted in a regular manner and, subject to regulatory requirements, full details of the number of shares sold at each price within the stated range are available upon request.

The transaction was officially signed by Kevin Macikowski through a power of attorney on June 17, 2024.

In other recent news, Viatris Inc. reported strong financial results for the first quarter of 2024, with total revenue reaching approximately $3.7 billion. The company's adjusted EBITDA was approximately $1.2 billion, adjusted earnings per share was $0.67, and free cash flow was approximately $565 million. Viatris confirmed that its strategic initiatives are on track and will return $393 million to shareholders through dividends and share repurchases in the first quarter.

Viatris also announced the appointment of Rogerio Vivaldi Coelho, MD, to its Board of Directors. Dr. Vivaldi, an experienced leader in the biopharmaceutical industry, will serve as a member of the Board's Science and Technology Committee. His extensive background includes leadership roles at multiple biotechnology companies, most recently as President and CEO of Sigilon Therapeutics.

These are the latest developments in the company's ongoing efforts to enhance its innovation pipeline and strategic growth. Although North American business declined 3%, Viatris achieved growth in emerging markets and Europe, with new product revenue expected to reach $450 to $550 million. The company reiterated its financial guidance for 2024 and expects free cash flow to be stronger in the second half.

Investment Professional Insights

Following news that Viatris Inc (NASDAQ: VTRS ) director Malik Rajiv recently sold shares, a deeper look at the company's financial health and market performance may give investors a clearer picture. Viatris has a market capitalization of $12.06 billion, according to InvestingPro, showing its solid position in the pharmaceutical industry. Investors may also note that the company has a forward-looking P/E ratio of 9.47, indicating the potential for investment value relative to earnings. Additionally, Viatris boasts a high dividend yield of 4.72%, a figure that may be particularly attractive to income-focused investors.

From an InvestingPro Tips perspective, it's interesting to note that Viatris' management has been actively repurchasing stock, a move that tends to signal confidence in the company's future prospects and a commitment to increasing shareholder value. Additionally, the company's net profit is expected to grow this year, a factor that could contribute to the optimistic outlook for potential and current investors. With these factors in mind, those interested in Viatris performance may find it worthwhile to explore the full list of InvestingPro Tips available on Investing.com. The platform also provides an additional 9 tips to give you a more detailed understanding of the company's positioning.

To gain access to these insights and more, we encourage investors to consider subscribing to InvestingPro. Use coupon code PRONEWS24readers can enjoy an additional 10% discount on annual or biennial Pro and Pro+ subscriptions to enhance their investment research with valuable data and expert analysis.

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