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Viatris Inc (VTRS) receives an Underperform rating from BofA Securities

Viatris Inc’s recently made public that its Director Malik Rajiv unloaded Company’s shares for reported $2.69 million on Jun 14 ’24. In the deal valued at $10.18 per share,264,300 shares were sold. As a result of this transaction, Malik Rajiv now holds 645,519 shares worth roughly $6.85 million.

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Then, Malik Rajiv sold 85,660 shares, generating $900,741 in total proceeds. Upon selling the shares at $10.52, the Director now owns 909,819 shares.

Before that, Roman Brian sold 89,419 shares. Viatris Inc shares valued at $928,429 were divested by the Chief Legal Officer at a price of $10.38 per share. As a result of the transaction, Roman Brian now holds 67,723 shares, worth roughly $0.72 million.

BofA Securities downgraded its Viatris Inc [VTRS] rating to an Underperform from a a Neutral in a research note published on October 23, 2023; the price target was decreased to $9 from $13. A number of analysts have revised their coverage, including Barclays’s analysts, who decreased its forecast for the stock in late June from “an Equal weight” to “an Underweight”. Barclays also remained covering VTRS and has decreased its forecast on April 24, 2023 with a “an Equal weight” recommendation from previously “an Overweight” rating. BMO Capital Markets revised its rating on February 17, 2023. It rated VTRS as “a Market perform” which previously was an “an Outperform”.

Price Performance Review of VTRS

On Monday, Viatris Inc [NASDAQ:VTRS] saw its stock jump 2.81% to $10.61. Over the last five days, the stock has lost -0.19%. Viatris Inc shares have fallen nearly -2.03% since the year began. Nevertheless, the stocks have risen 7.83% over the past one year. While a 52-week high of $13.62 was reached on 02/23/24, a 52-week low of $8.74 was recorded on 06/18/24. SMA at 50 days reached $10.81, while 200 days put it at $10.82. A total of 8.67 million shares were traded, compared to the trading of 10.1 million shares in the previous session.

Levels Of Support And Resistance For VTRS Stock

The 24-hour chart illustrates a support level at 10.42, which if violated will result in even more drops to 10.23. On the upside, there is a resistance level at 10.72. A further resistance level may holdings at 10.83. The Relative Strength Index (RSI) on the 14-day chart is 52.50, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.04, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 20.35%. Stochastics%K at 59.50% indicates the stock is a holding.

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