Viatris (VTRS)


Market Price (11/7/2026): $19.89 | Market Cap: $22.8 BilInvestor Relations Sector: Health Care | Industry: Pharmaceuticals

Viatris (VTRS)


Market Price (11/7/2026): $19.89
Market Cap: $22.8 Bil
Sector: Health Care
Industry: Pharmaceuticals

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

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Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 17%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 13%, CFO LTM is 2.5 Bil

Attractive yield
Dividend Yield is 2.4%, FCF Yield is 8.6%

Stock buyback support
Stock Buyback 3Y Total is 1.1 Bil

Low stock price volatility
Vol 12M is 33%

Megatrend and thematic drivers
Megatrends include Aging Population & Chronic Disease, and Precision Medicine. Themes include Oncology Treatments, Diabetes Management, Show more.

Trading close to highs
Dist 52W High is 0.0%, Dist 3Y High is 0.0%

Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 51%

Stock price has recently run up significantly
12M Rtn12 month market price return is 104%

Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -1.5%, Rev Chg QQuarterly Revenue Change % is -0.3%

Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -5.6%

Key risks
VTRS key risks include [1] significant financial and supply chain repercussions from regulatory actions at its key Indore, Show more.

0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 17%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 13%, CFO LTM is 2.5 Bil
1 Attractive yield
Dividend Yield is 2.4%, FCF Yield is 8.6%
2 Stock buyback support
Stock Buyback 3Y Total is 1.1 Bil
3 Low stock price volatility
Vol 12M is 33%
4 Megatrend and thematic drivers
Megatrends include Aging Population & Chronic Disease, and Precision Medicine. Themes include Oncology Treatments, Diabetes Management, Show more.
5 Trading close to highs
Dist 52W High is 0.0%, Dist 3Y High is 0.0%
6 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 51%
7 Stock price has recently run up significantly
12M Rtn12 month market price return is 104%
8 Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -1.5%, Rev Chg QQuarterly Revenue Change % is -0.3%
9 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -5.6%
10 Key risks
VTRS key risks include [1] significant financial and supply chain repercussions from regulatory actions at its key Indore, Show more.

VTRS in ETFs

Weight = VTRS's share of each fund

SPY0.03%
VOO0.03%
IVV0.03%
VTI0.03%
ITOT0.03%
IWB0.03%
RSP0.23%
VYM0.09%
+27 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 11/6/2026

Viatris (VTRS) stock has gained about 15% since 7/31/2026 because of the following key factors:

1. Strong Fiscal Q3 2026 Financial Performance and Upward Revision of Full-Year Guidance.

Viatris exceeded analyst expectations for its fiscal Q3 2026 (ended September 30, 2026) adjusted earnings per share, reporting $0.71, which was 11.3% above the consensus estimate of $0.64. This positive earnings beat was accompanied by an upward revision of the midpoint of its full-year 2026 financial guidance, now projecting approximately 2% operational revenue growth, 6% adjusted EBITDA growth, and 8% adjusted EPS growth compared to the prior year. This revised outlook demonstrated management's confidence in continued business momentum.

2. Strategic Acquisition of Pacira BioSciences to Bolster Innovative Medicines Portfolio.

Viatris announced a definitive agreement to acquire Pacira BioSciences for $36.50 per share in cash, representing an aggregate equity value of $1.65 billion, with the transaction expected to close by the end of November 2026. This acquisition is strategically important as it is anticipated to be immediately accretive to all financial guidance metrics in 2027 and is expected to strengthen Viatris's U.S. Innovative Medicines business, projecting over $1 billion in revenue for this segment in 2027.

Show more
Updated on 11/6/2026

Viatris (VTRS) stock has gained about 15% since 7/31/2026 because of the following key factors:

1. Strong Fiscal Q3 2026 Financial Performance and Upward Revision of Full-Year Guidance.

Viatris exceeded analyst expectations for its fiscal Q3 2026 (ended September 30, 2026) adjusted earnings per share, reporting $0.71, which was 11.3% above the consensus estimate of $0.64. This positive earnings beat was accompanied by an upward revision of the midpoint of its full-year 2026 financial guidance, now projecting approximately 2% operational revenue growth, 6% adjusted EBITDA growth, and 8% adjusted EPS growth compared to the prior year. This revised outlook demonstrated management's confidence in continued business momentum.

2. Strategic Acquisition of Pacira BioSciences to Bolster Innovative Medicines Portfolio.

Viatris announced a definitive agreement to acquire Pacira BioSciences for $36.50 per share in cash, representing an aggregate equity value of $1.65 billion, with the transaction expected to close by the end of November 2026. This acquisition is strategically important as it is anticipated to be immediately accretive to all financial guidance metrics in 2027 and is expected to strengthen Viatris's U.S. Innovative Medicines business, projecting over $1 billion in revenue for this segment in 2027.

3. Robust Performance in Key Geographic Markets and Growth from New Product Launches.

The company exhibited strong operational momentum in key regions during fiscal Q3 2026. North America sales increased approximately 7%, primarily driven by higher-margin complex generics and Estradiol patches. Additionally, Greater China sales rose approximately 10%. Viatris also generated approximately $115 million in new product revenues during the third quarter and anticipates delivering around $450 million in new product revenues for the full fiscal year 2026.

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Stock Movement Drivers

Fundamental Drivers

The 14.2% change in VTRS stock from 7/31/2026 to 11/6/2026 was primarily driven by a 12.3% change in the company's P/S Multiple.
(LTM values as of)731202611062026Change
Stock Price ($)17.4319.9114.2%
Change Contribution By: 
Total Revenues ($ Mil)14,56314,7271.1%
P/S Multiple1.41.612.3%
Shares Outstanding (Mil)1,1551,1490.6%
Cumulative Contribution14.2%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2026 to 11/6/2026
ReturnCorrelation
VTRS14.2% 
Market (SPY)-1.6%20.2%
Sector (XLV)13.7%37.9%

Fundamental Drivers

The 35.3% change in VTRS stock from 4/30/2026 to 11/6/2026 was primarily driven by a 30.9% change in the company's P/S Multiple.
(LTM values as of)430202611062026Change
Stock Price ($)14.7219.9135.3%
Change Contribution By: 
Total Revenues ($ Mil)14,30014,7273.0%
P/S Multiple1.21.630.9%
Shares Outstanding (Mil)1,1531,1490.4%
Cumulative Contribution35.3%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 11/6/2026
ReturnCorrelation
VTRS35.3% 
Market (SPY)2.6%13.6%
Sector (XLV)27.1%42.9%

Fundamental Drivers

The 99.0% change in VTRS stock from 10/31/2025 to 11/6/2026 was primarily driven by a 86.8% change in the company's P/S Multiple.
(LTM values as of)1031202511062026Change
Stock Price ($)10.0119.9199.0%
Change Contribution By: 
Total Revenues ($ Mil)14,11614,7274.3%
P/S Multiple0.81.686.8%
Shares Outstanding (Mil)1,1731,1492.1%
Cumulative Contribution99.0%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 11/6/2026
ReturnCorrelation
VTRS99.0% 
Market (SPY)8.7%28.0%
Sector (XLV)29.8%38.1%

Fundamental Drivers

The 153.8% change in VTRS stock from 10/31/2023 to 11/6/2026 was primarily driven by a 157.5% change in the company's P/S Multiple.
(LTM values as of)1031202311062026Change
Stock Price ($)7.8519.91153.8%
Change Contribution By: 
Total Revenues ($ Mil)15,60214,727-5.6%
P/S Multiple0.61.6157.5%
Shares Outstanding (Mil)1,1991,1494.4%
Cumulative Contribution153.8%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2023 to 11/6/2026
ReturnCorrelation
VTRS153.8% 
Market (SPY)81.9%33.5%
Sector (XLV)55.4%42.5%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
VTRS Return-26%-14%2%20%5%64%33%
Peers Return20%2%-24%0%-7%55%35%
S&P 500 Return27%-19%24%23%16%12%105%

Monthly Win Rates [3]
VTRS Win Rate25%42%50%50%50%73% 
Peers Win Rate53%50%42%44%44%64% 
S&P 500 Win Rate75%42%67%75%67%45% 

Max Drawdowns [4]
VTRS Max Drawdown-34%-43%-26%-24%-41%-19% 
Peers Max Drawdown-20%-26%-44%-26%-33%-25% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: PFE, OGN, AMGN. See VTRS Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/6/2026 (YTD)

How Low Can It Go

EventVTRSS&P 500
2025 US Tariff Shock
  % Loss-32.7%-18.8%
  % Gain to Breakeven48.7%23.1%
  Time to Breakeven126 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-14.8%-9.5%
  % Gain to Breakeven17.4%10.5%
  Time to Breakeven48 days24 days
2023 SVB Regional Banking Crisis
  % Loss-23.9%-6.7%
  % Gain to Breakeven31.3%7.1%
  Time to Breakeven245 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-38.5%-24.5%
  % Gain to Breakeven62.6%32.4%
  Time to Breakeven507 days427 days
2020 COVID-19 Crash
  % Loss-36.6%-33.7%
  % Gain to Breakeven57.6%50.9%
  Time to Breakeven2247 days140 days
2016-2017 Trump Reflation Bond Selloff
  % Loss-15.1%-3.7%
  % Gain to Breakeven17.8%3.9%
  Time to Breakeven103 days6 days

Compare to PFE, OGN, AMGN

In The Past

Viatris's stock fell -32.7% during the 2025 US Tariff Shock. Such a loss loss requires a 48.7% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventVTRSS&P 500
2025 US Tariff Shock
  % Loss-32.7%-18.8%
  % Gain to Breakeven48.7%23.1%
  Time to Breakeven126 days79 days
2023 SVB Regional Banking Crisis
  % Loss-23.9%-6.7%
  % Gain to Breakeven31.3%7.1%
  Time to Breakeven245 days31 days
2022 Inflation Shock & Fed Tightening
  % Loss-38.5%-24.5%
  % Gain to Breakeven62.6%32.4%
  Time to Breakeven507 days427 days
2020 COVID-19 Crash
  % Loss-36.6%-33.7%
  % Gain to Breakeven57.6%50.9%
  Time to Breakeven2247 days140 days
2011 US Debt Ceiling Crisis & European Contagion
  % Loss-32.5%-17.9%
  % Gain to Breakeven48.1%21.8%
  Time to Breakeven338 days123 days
2010 Eurozone Sovereign Debt Crisis / Flash Crash
  % Loss-22.5%-15.4%
  % Gain to Breakeven29.0%18.2%
  Time to Breakeven189 days125 days
2008-2009 Global Financial Crisis
  % Loss-58.4%-53.4%
  % Gain to Breakeven140.4%114.4%
  Time to Breakeven158 days1085 days
Summer 2007 Credit Crunch
  % Loss-22.0%-8.6%
  % Gain to Breakeven28.3%9.5%
  Time to Breakeven830 days47 days

Compare to PFE, OGN, AMGN

In The Past

Viatris's stock fell -32.7% during the 2025 US Tariff Shock. Such a loss loss requires a 48.7% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Viatris (VTRS)

Viatris Inc. is a global healthcare company specializing in the development, manufacture, and distribution of a broad portfolio of pharmaceutical products. Its core business encompasses a diverse range of offerings, including established brand-name drugs, generic medications, complex generic drugs, biosimilars, and active pharmaceutical ingredients (APIs). The company addresses various therapeutic areas, from noncommunicable and infectious diseases to oncology, immunology, and cardiovascular health, making it a comprehensive provider in the pharmaceutical sector.

The company's extensive product line includes well-known brand drugs such as Lyrica, Lipitor, Creon, EpiPen, and Viagra, alongside biosimilar franchises like Fulphila, Ogivri, and Hulio, which target complex biological conditions. Viatris produces these medicines in various forms, including oral solids, injectables, and complex dosage forms. Beyond manufacturing, Viatris also provides support services like diagnostic clinics, educational seminars, and digital tools designed to assist patients in managing their health effectively.

Viatris serves a wide array of primary customers and markets globally, distributing its products to retail and pharmacy establishments, wholesalers, distributors, payers, insurers, governments, and institutional pharmacies. Its extensive distribution network reaches patients and healthcare providers across major geographic segments, including Developed Markets, Greater China, JANZ (Japan, Australia, New Zealand), and Emerging Markets, ensuring broad access to its medicines worldwide.

AI Analysis | Feedback

Viatris is like **Teva Pharmaceuticals, but with a substantial portfolio of popular, off-patent brand-name drugs** (such as Lipitor and Viagra) in addition to its extensive range of generics and biosimilars, distributed globally.

Alternatively, think of Viatris as the **Procter & Gamble of established prescription medicines**, manufacturing and globally distributing a vast array of familiar generic, biosimilar, and brand-name drugs whose patents have expired.

AI Analysis | Feedback

  • Brand Drugs: A diverse portfolio of prescription medications, including well-known names such as Lyrica, Lipitor, Creon, Influvac, EpiPen, Norvasc, Viagra, and Celebrex.
  • Generic and Complex Generic Drugs: A broad offering of chemically identical or highly similar versions of branded prescription drugs, including those with complex formulations.
  • Biosimilars: Biologic medicines that are highly similar to an already approved reference biologic, featuring franchises like Fulphila, Ogivri, Hulio, and SEMGLEE.
  • Active Pharmaceutical Ingredients (APIs): Core chemical components used in the manufacture of various pharmaceutical products across numerous therapeutic categories.
  • Patient Support Services: Services designed to assist patients in managing their health, encompassing diagnostic clinics, educational seminars, and digital tools.

AI Analysis | Feedback

Viatris Inc. (VTRS) primarily sells its pharmaceutical products and active pharmaceutical ingredients (APIs) to other companies and organizations within the healthcare supply chain, rather than directly to individual consumers. The company's business model involves distributing its products through various channels to reach end-users.

Based on the company description, Viatris's major customer categories and prominent public companies within those categories include:

  • Pharmaceutical Wholesalers and Distributors: These companies are critical intermediaries that purchase large volumes of pharmaceutical products from manufacturers like Viatris and then distribute them to pharmacies, hospitals, and other healthcare providers across various markets.
    • McKesson Corporation (MCK)
    • AmerisourceBergen Corporation (ABC)
    • Cardinal Health, Inc. (CAH)
  • Pharmaceutical Retailers and Pharmacy Benefit Managers (PBMs): This category includes major pharmacy chains, mail-order pharmacies, e-commerce pharmacies, and companies that manage prescription drug benefits for large health plans. These entities are significant direct or indirect purchasers of medicines.
    • CVS Health Corporation (CVS) (operates CVS Pharmacy and is a major PBM through CVS Caremark)
    • Walgreens Boots Alliance, Inc. (WBA) (operates Walgreens pharmacies)
    • Cigna Corporation (CI) (parent company of Express Scripts, a major PBM)
    • UnitedHealth Group (UNH) (parent company of OptumRx, another major PBM, and a large health insurer)
  • Healthcare Payers and Insurers: Large health insurance companies and other payers often negotiate directly with pharmaceutical manufacturers or distributors to procure medications for their covered members. Governments also fall into this category through their health programs and procurement efforts.
    • UnitedHealth Group (UNH)
    • Elevance Health, Inc. (ELV)
    • Cigna Corporation (CI)
    • Humana Inc. (HUM)
  • Healthcare Institutions: This broad category encompasses hospitals, clinics, and other healthcare facilities that purchase medications for use within their establishments. These purchases may be direct or through group purchasing organizations.

AI Analysis | Feedback

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  • Biocon Ltd. (BIOCON.NS)
  • Revance Therapeutics, Inc. (RVNC)
  • Theravance Biopharma, Inc. (TBPH)
  • Fujifilm Kyowa Kirin Biologics Co. Ltd.
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Scott A. Smith, Chief Executive Officer

Scott A. Smith is the Chief Executive Officer of Viatris and a member of the company's board of directors. He has over 35 years of experience in the global biotechnology and pharmaceutical sectors. Prior to becoming CEO of Viatris in April 2023, Smith served as President of BioAtla, Inc., a global biotechnology company focused on developing antibody therapeutics. Before that, he was President and Chief Operating Officer of Celgene Corporation, where he was instrumental in building and overseeing the clinical development, registration, launch, and global commercial success of the blockbuster drug Otezla®. He has also served on the boards of multiple public and private companies, including BioAtla, Apexigen, Titan Pharmaceuticals, Triumvira Immunologics, Refuge Biotechnologies, and F-star Therapeutics.

Theodora "Doretta" Mistras, Chief Financial Officer

Theodora "Doretta" Mistras assumed the role of Chief Financial Officer of Viatris in March 2024. She is an accomplished financial executive with extensive healthcare industry knowledge and nearly two decades of leadership, advisory, and capital markets experience. Before joining Viatris, Mistras served as Managing Director, Healthcare Investment Banking at Citigroup Global Markets, and previously held the same role at Goldman Sachs. Throughout her career, she has advised on transactions totaling over $240 billion in aggregate value, guiding corporate boards and executive teams on various strategic financial matters including mergers and acquisitions, joint ventures, and capital markets transactions.

Corinne Le Goff, Chief Commercial Officer

Corinne Le Goff joined Viatris as Chief Commercial Officer in April 2024. She brings over 25 years of experience in the biotechnology and pharmaceutical industries, leading and building successful global teams. Her previous roles include President and Chief Executive Officer of Imunon, a clinical-stage biotechnology company, where she spearheaded an organizational turnaround. She also served as Chief Commercial Officer at Moderna, responsible for establishing the commercial organization and capabilities for the global rollout of its COVID-19 vaccine. Le Goff spent six years at Amgen, where she held significant positions such as President of the U.S. Business, Senior Vice President of Global Product Strategy & Commercial Innovation, and President of the Europe Region. Early in her career, she held leadership positions at Roche, Merck, Sanofi, and Pfizer.

Matthew J. Maletta, Chief Legal Officer

Matthew J. Maletta was appointed Chief Legal Officer of Viatris, effective February 9, 2026. He possesses nearly 30 years of legal experience, leading legal teams for both generic and branded pharmaceutical companies. From 2015 to 2025, Maletta served as Executive Vice President, Chief Legal Officer, and Corporate Secretary at Endo, where he oversaw the company's merger with Mallinckrodt and the subsequent spin-off of Par Health. Before his tenure at Endo, he spent over a decade at Allergan, rising to Vice President, Associate General Counsel, and Corporate Secretary. At Allergan, he was the lead attorney for business development transactions, including the $70 billion sale of Allergan to Actavis.

Andrew Enrietti, Chief Administrative and Transformation Officer

Andrew Enrietti serves as Viatris' Chief Administrative and Transformation Officer. No detailed background information on prior companies founded, managed, or private equity involvement was available in the provided search results.

AI Analysis | Feedback

Here are the key risks to Viatris's business:

  1. Competitive Pressure and Price Erosion in the Generic Drug Market: Viatris operates in a highly competitive global generic drug market, which leads to significant price erosion and pressure on profit margins. The entry of numerous competitors, including companies like Teva Pharmaceutical Industries Ltd. and Sandoz Group AG, contributes to a "race to the bottom" on price for many traditional generic products. This competitive landscape, exacerbated by factors such as the Inflation Reduction Act (IRA) in the U.S., consistently impacts Viatris's revenue and market share.
  2. Regulatory Hurdles and Manufacturing Challenges: A significant risk for Viatris stems from regulatory scrutiny and operational issues at its manufacturing facilities. Notably, an FDA warning letter and import alert concerning its oral finished dose manufacturing facility in Indore, India, has caused substantial supply disruptions and negatively impacted total revenues and adjusted EBITDA. Such regulatory actions can restrict product distribution, lead to increased costs for compliance and remediation, and significantly affect financial performance.
  3. High Debt Load and Financial Leverage: Viatris carries a substantial debt load, which, despite active efforts to reduce it, remains a significant financial risk. As of September 2025, the company had approximately $14.7 billion in total debt. High leverage can limit the company's financial flexibility, increase its susceptibility to industry-wide challenges like generic drug pricing pressures and foreign exchange volatility, and can lead to non-cash goodwill impairment charges, impacting GAAP net earnings.

AI Analysis | Feedback

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AI Analysis | Feedback

Viatris Inc. (VTRS) operates in various therapeutic areas and offers a wide range of products, including prescription brand drugs, generic drugs, complex generic drugs, and biosimilars. The addressable markets for some of their main products and services are detailed below:

  • Lyrica (Pregabalin): The global pregabalin market size was valued at approximately USD 1.8 billion in 2024 and is projected to grow to USD 3 billion by 2034. In the U.S. alone, this market was valued at USD 754 million in 2024. Other estimates place the global market for pregabalin at about USD 4.2 billion in 2022, with the United States contributing nearly 55% of sales, approximately USD 2.3 billion.
  • Lipitor (Atorvastatin): The global atorvastatin market size was USD 4,624.2 million in 2024. North America accounted for a significant portion, with a market size of USD 1,849.68 million in 2024. The global market is projected to reach USD 6,003.69 million by 2031.
  • EpiPen auto-injector (Epinephrine autoinjector): The global epinephrine autoinjector market size was estimated at USD 2,158.2 million in 2024. North America held a substantial share, with a market size of USD 863.28 million in the same year. The market is expected to reach USD 3698.7 million by 2031. Another source indicates the global market reached USD 2.6 billion in 2024 and is expected to grow to USD 5.3 billion by 2033.
  • Creon (Pancrelipase): The global pancrelipase market size was estimated at USD 1.064 billion in 2024 and is projected to increase to USD 1.81 billion by 2035. North America is the largest market for pancrelipase, accounting for approximately 45% of the global share. Another report values the global market at approximately USD 1.8 billion in 2023, with projections to reach around USD 3.1 billion by 2032.
  • Celebrex (Celecoxib): As of 2023, the global market for celecoxib was valued at approximately USD 2.3 billion. The North American market represents roughly 50% of these sales. The global celecoxib market size is expected to reach USD 3393.52 million by 2033.
  • Fulphila (Pegfilgrastim Biosimilar): The global pegfilgrastim biosimilar market is estimated to be valued at USD 4.5 billion in 2025 and is projected to reach USD 9.3 billion by 2035. North America is a key region in this market.
  • Ogivri (Trastuzumab Biosimilar): The global trastuzumab biosimilars market size is expected to grow from USD 6.9 billion in 2025 to USD 8.86 billion in 2026, with projections to reach USD 24.48 billion by 2030. North America was the largest region in this market in 2025.
  • Hulio (Adalimumab Biosimilar): The global adalimumab biosimilar market size was valued at USD 897.85 million in 2025 and is expected to reach USD 8.1 billion by 2035.
  • Biosimilars (General): The overall global biosimilars market size was estimated at USD 39.59 billion in 2025 and is projected to reach USD 151.58 billion by 2033. North America held the largest revenue share in the biosimilars market in 2025, accounting for 42.56% of the global revenue.

AI Analysis | Feedback

For Viatris (VTRS), several key drivers are expected to fuel future revenue growth over the next 2-3 years:

  1. New Product Launches and Pipeline Advancements: Viatris anticipates significant contributions from new product revenues, projecting between $450 million and $550 million in 2026. The company's pipeline includes upcoming launches for 2026-2027, such as fast-acting meloxicam, cenerimod, and selatogrel, which are expected to support mid-single-digit sales growth and improve margins. Recent regulatory milestones, including FDA approvals for generic injectable medications and the acceptance of new drug applications for a low-dose estrogen weekly contraceptive patch, further underscore the potential for new product streams. Furthermore, Viatris is strategically focusing on complex generics and biosimilars, aiming to capitalize on the "biosimilar boom" as high-cost biologic drugs lose patent protection.
  2. Strategic Geographic Expansion and Performance: The company expects continued operational revenue growth across key regions, particularly Europe, Greater China, and Emerging Markets. Specifically, Europe is projected to grow 4% year-over-year in 2026, while Emerging Markets and Greater China are expected to see growth of 6% and 3%, respectively. This regional focus leverages Viatris's established global presence to drive revenue.
  3. Realization of Cost Savings and Reinvestment into Growth Initiatives: Viatris has undertaken an enterprise-wide strategic review targeting approximately $650 million in gross cost savings by the end of 2028. A significant portion of these savings (approximately $250 million) is planned for reinvestment into growth initiatives, particularly in higher-value brands and research and development, which is anticipated to enhance future revenue generation and improve margins.
  4. Focus on Higher-Value Specialty and Biosimilar Products: A strategic pivot towards higher-value specialty medicines and biosimilars is a crucial growth driver. Viatris is investing in new specialty pillars such as ophthalmology and gastroenterology, with an ambitious goal to achieve over $1 billion in annual ophthalmology sales by 2028. The company's ability to navigate complex regulatory pathways for technically challenging products, such as its first approved injectable using microsphere technology, reinforces this shift towards a more profitable product mix. The temporary increase in Medicare Part B reimbursement for biosimilars through 2027 also acts as a tailwind for this segment.

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Share Repurchases

  • Viatris returned over $1 billion to shareholders through dividends and share repurchases in 2025.
  • As of the third quarter of 2025, Viatris had returned more than $920 million to shareholders, including $500 million in share repurchases, and anticipated completing between $500 million and $650 million in total share repurchases for the full year 2025.
  • The company has a share repurchase program authorizing the repurchase of up to $2.0 billion of its common stock.

Outbound Investments

  • In October 2025, Viatris acquired Aculys Pharma, gaining rights to Pitolisant in Japan and Spydia® in Japan and certain other markets in the Asia-Pacific region.
  • Viatris announced in late 2022 and completed in Q1 2023 the acquisition of Oyster Point Pharma and Famy Life Sciences for an aggregate purchase price of approximately $700-$750 million, establishing a new ophthalmology franchise.
  • In 2024, Viatris expanded its portfolio by acquiring rights to three new products (Cenerimod, Selatogrel, and Sotagliflozin) from Idorsia for an upfront payment of $350 million, along with potential milestones and royalties.

Capital Expenditures

  • Capital expenditures for Viatris amounted to $379 million in 2025.
  • The company's estimated capital expenditures for 2021 were projected to be between $0.5 billion and $0.65 billion.
  • Viatris focuses its capital expenditures on expanding its product pipeline and investing in advanced manufacturing technologies.

Better Bets vs. Viatris (VTRS)

Peer Outperformance in Pharmaceuticals

VTRS has outperformed 82% of its 60 Pharmaceuticals peers over 5Y. Pharmaceuticals ranks 6th of 10 industries in Health Care by median 5Y return. The sector’s gains have largely come from elsewhere.
Share of Pharmaceuticals constituents that VTRS has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
91%
of 70 industry peers · 103.9% return
3Y
83%
of 66 industry peers · 147.4% return
5Y
82%
of 60 industry peers · 79.0% return
No Pharmaceuticals peer with a comparable growth profile has beaten VTRS by more than 20pp over 5Y.
Median price return by industry across the Health Care sector, ranked by 5Y. Pharmaceuticals is VTRS's own industry. Use this to see which corners of the sector have carried the returns.
Industry Names 1Y med3Y med5Y med Top 3 by 5Y
Health Care Distributors 6 8.1%55.6%91.6% CAH 507% · MCK 390% · COR 176%
Health Care Services 20 33.3%22.4%7.1% HIMS 212% · RDNT 120% · DGX 100%
Health Care Facilities 25 13.7%21.0%1.0% THC 276% · NHC 212% · EHC 179%
Managed Health Care 8 58.5%-2.5%-2.4% OSCR 80% · HQY 52% · ELV 8%
Health Care Equipment 50 11.3%12.9%-18.2% UFPT 361% · GKOS 294% · TMDX 180%
Pharmaceuticals ← 61 -9.5%10.3%-37.3% LQDA 975% · XERS 679% · KNSA 537%
Health Care Supplies 11 29.2%17.3%-41.2% LNTH 248% · HAE 61% · MMSI 26%
Life Sciences Tools & Services 108 -8.2%-13.1%-74.5% AXGN 264% · MEDP 189% · NTRA 168%
Biotechnology 364 -24.2%-34.6%-81.5% ELVN 1194% · TRVI 1125% · DNTH 995%
Health Care Technology 21 -23.7%-52.4%-82.9% VEEV -5% · DOCS -52%
Median of constituents with a full price history over each window. Top names are limited to companies above $2B market cap.

Latest Trefis Analyses

Recent Active Movers

Peer Comparisons

Peers to compare with:

Financials

VTRSPFEOGNAMGNMedian
NameViatris Pfizer Organon Amgen  
Mkt Price19.8929.3513.86460.4224.62
Mkt Cap22.8167.33.6249.195.1
Rev LTM14,72763,6246,09938,90326,815
Op Inc LTM15216,6241,17112,6106,890
FCF LTM1,97811,7866119,5815,779
FCF 3Y Avg1,82310,1306089,1345,479
CFO LTM2,48514,17384312,0357,260
CFO 3Y Avg2,28612,83891310,8066,546

Growth & Margins

VTRSPFEOGNAMGNMedian
NameViatris Pfizer Organon Amgen  
Rev Chg LTM4.3%1.3%-3.2%8.2%2.8%
Rev Chg 3Y Avg-1.5%-2.9%-0.2%13.3%-0.9%
Rev Chg Q-0.3%-0.4%-1.7%8.5%-0.4%
QoQ Delta Rev Chg LTM-0.1%-0.1%-0.5%2.1%-0.1%
Op Inc Chg LTM-59.4%-1.7%-10.3%45.4%-6.0%
Op Inc Chg 3Y Avg-38.9%16.3%-2.4%18.4%6.9%
Op Mgn LTM1.0%26.1%19.2%32.4%22.7%
Op Mgn 3Y Avg3.7%23.3%21.1%25.2%22.2%
QoQ Delta Op Mgn LTM0.1%-0.6%0.2%2.4%0.2%
CFO/Rev LTM16.9%22.3%13.8%30.9%19.6%
CFO/Rev 3Y Avg15.6%20.6%14.5%29.9%18.1%
FCF/Rev LTM13.4%18.5%10.0%24.6%16.0%
FCF/Rev 3Y Avg12.4%16.2%9.7%25.3%14.3%

Valuation

VTRSPFEOGNAMGNMedian
NameViatris Pfizer Organon Amgen  
Mkt Cap22.8167.33.6249.195.1
P/S1.62.60.66.42.1
P/Op Inc150.810.13.119.814.9
P/EBIT-426.224.03.818.211.0
P/E-37.641.517.126.521.8
P/CFO9.211.84.320.710.5
Total Yield-0.2%8.3%6.4%5.9%6.2%
Dividend Yield2.4%5.8%0.5%2.2%2.3%
FCF Yield 3Y Avg12.4%6.5%16.8%5.1%9.4%
D/E0.60.42.40.20.5
Net D/E0.50.32.00.20.4

Returns

VTRSPFEOGNAMGNMedian
NameViatris Pfizer Organon Amgen  
1M Rtn13.7%6.4%0.5%11.5%8.9%
3M Rtn22.0%11.3%2.1%12.7%12.0%
6M Rtn17.6%18.0%4.1%40.7%17.8%
12M Rtn103.7%28.2%108.2%49.9%76.8%
3Y Rtn147.1%15.6%25.4%85.8%55.6%
1M Excs Rtn15.0%8.0%1.8%14.0%11.0%
3M Excs Rtn23.9%10.9%2.7%11.8%11.4%
6M Excs Rtn13.7%14.1%0.2%36.8%13.9%
12M Excs Rtn78.5%16.4%105.9%34.8%56.6%
3Y Excs Rtn71.6%-62.9%-75.1%11.7%-25.6%

Comparison Analyses

null

FDA Approved Drugs Data

Expand for More
Post-Approval Fwd Returns
FDA
App #
Brand
Name
Generic
Name
Dosage
Form
FDA
Approval
3M
Rtn
6M
Rtn
1Y
Rtn
2Y
Rtn
Total
Rtn
NDA219990  GWYN LOethinyl estradiolsystem72820265.6%12.3%12.3%12.3%12.3%
NDA201688  TOBI PODHALERtobramycinpowder32220132.7%29.6%74.8%111.5%-16.4%
NDA203109  REVATIOsildenafil citratefor suspension830201216.2%26.1%50.5%107.0%6.2%
NDA022473  REVATIOsildenafil citratesolution111820096.9%14.6%9.1%1.2%41.3%
NDA021997  EDLUARzolpidem tartratetablet31320092.6%14.2%65.4%68.4%87.9%
NDA022203  ASTEPROazelastine hydrochloridespray, metered1015200845.6%91.2%129.5%164.5%241.5%
NDA022007  PERFOROMISTformoterol fumaratesolution5112007-34.3%-31.9%-48.9%-38.6%11.7%
NDA021813  ELESTRINestradiolgel, metered12152006-5.3%-9.2%-32.8%-54.3%22.4%
Collapse to Preview
Post-Approval Fwd Returns
FDA
App #
Brand
Name
Generic
Name
Dosage
Form
FDA
Approval
3M
Rtn
6M
Rtn
1Y
Rtn
2Y
Rtn
Total
Rtn
NDA219990  GWYN LOethinyl estradiolsystem72820265.6%12.3%12.3%12.3%12.3%
NDA201688  TOBI PODHALERtobramycinpowder32220132.7%29.6%74.8%111.5%-16.4%
NDA203109  REVATIOsildenafil citratefor suspension830201216.2%26.1%50.5%107.0%6.2%
NDA022473  REVATIOsildenafil citratesolution111820096.9%14.6%9.1%1.2%41.3%
NDA021997  EDLUARzolpidem tartratetablet31320092.6%14.2%65.4%68.4%87.9%
NDA022203  ASTEPROazelastine hydrochloridespray, metered1015200845.6%91.2%129.5%164.5%241.5%
NDA022007  PERFOROMISTformoterol fumaratesolution5112007-34.3%-31.9%-48.9%-38.6%11.7%
NDA021813  ELESTRINestradiolgel, metered12152006-5.3%-9.2%-32.8%-54.3%22.4%

Clinical Pipeline

Drug CandidateIndicationPhase 3 TrialsEst. Primary Completion
CenerimodSystemic lupus erythematosus and lupus nephritis4Oct 2026
SelatogrelAcute myocardial infarction1Jul 2027
Active Phase 3 studies led by the company. Source: ClinicalTrials.gov · Updated 8/28/2026

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Brands9,1849,2009,8009,89010,841
Generics5,0665,4925,5886,3286,972
Other revenues5046384573
Total14,30014,73915,42716,26317,886


Operating Income by Segment
$ Mil20142013201220052004
Generic1,8701,6561,729386511
Specialty664462297  
Corporate/Other-1,182   -45
Corporate -982-917  
Brand   35 
Branded    47
Total1,3531,1361,109422513


Assets by Segment
$ Mil20052004200320022001
Generic778677536466628
Brand200    
Branded 198213210249
Corporate/Other 1,000996941589
Total9771,8751,7451,6171,466


Price Behavior

Price Behavior
Market Price$19.91 
Market Cap ($ Bil)22.9 
First Trading Date12/18/1987 
Distance from 52W High0.0% 
   50 Days200 Days
DMA Price$17.70$15.90
DMA Trendupup
Distance from DMA12.5%25.2%
 3M1YR
Volatility25.3%32.9%
Downside Capture10.3940.56
Upside Capture113.06107.69
Correlation (S&P 500)17.6%28.2%
VTRS Betas & Captures as of 10/31/2026

 1M2M3M6M1Y3Y
Beta0.230.290.340.250.700.71
Up Beta0.24-0.45-0.250.020.530.61
Down Beta-0.66-0.63-1.030.140.780.85
Up Capture129%125%106%59%112%54%
Bmk +ve Days12182862130427
Stock +ve Days12233466134389
Down Capture6%-1%62%3%44%83%
Bmk -ve Days10253664121325
Stock -ve Days10202858112347

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with VTRS
VTRS92.3%32.9%2.01-
Sector ETF (XLV)28.6%16.9%1.3138.1%
Equity (SPY)9.5%13.6%0.4027.9%
Gold (GLD)1.6%28.7%0.0514.8%
Commodities (DBC)38.4%21.2%1.42-13.8%
Real Estate (VNQ)11.3%14.2%0.5134.8%
Bitcoin (BTCUSD)-26.9%43.6%-0.6010.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with VTRS
VTRS13.0%33.6%0.42-
Sector ETF (XLV)8.3%15.4%0.3543.0%
Equity (SPY)11.3%17.3%0.4838.6%
Gold (GLD)17.5%19.1%0.746.6%
Commodities (DBC)8.1%19.6%0.304.0%
Real Estate (VNQ)1.3%18.9%-0.0440.3%
Bitcoin (BTCUSD)4.1%51.6%0.2612.2%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with VTRS
VTRS-4.1%36.5%-0.01-
Sector ETF (XLV)12.2%16.8%0.5943.0%
Equity (SPY)15.0%18.0%0.7041.8%
Gold (GLD)11.9%16.5%0.593.2%
Commodities (DBC)7.5%18.1%0.3313.3%
Real Estate (VNQ)5.9%20.7%0.2435.3%
Bitcoin (BTCUSD)60.1%66.3%1.0010.1%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date10152026
Short Interest: Shares Quantity37.9 Mil
Short Interest: % Change Since 9302026-9.8%
Average Daily Volume8.3 Mil
Days-to-Cover Short Interest4.6 days
Basic Shares Quantity1,148.6 Mil
Short % of Basic Shares3.3%

Earnings Returns History

Updated 11/7/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
11/5/2026-1.3%  
8/6/2026-7.7%-8.8%-3.3%
5/7/20269.0%8.9%0.3%
2/26/2026-5.2%-8.5%-16.1%
11/6/2025-6.0%2.4%4.4%
8/7/20257.3%19.0%21.4%
5/8/20255.7%-2.1%2.7%
2/27/2025-15.2%-15.7%-20.4%
...
SUMMARY STATS   
# Positive131313
# Negative1099
Median Positive6.0%8.9%4.4%
Median Negative-6.5%-8.5%-16.1%
Max Positive13.5%19.0%21.4%
Max Negative-24.3%-29.8%-25.0%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
11/5/2026-1.3%  
8/6/2026-7.7%-8.8%-3.3%
5/7/20269.0%8.9%0.3%
2/26/2026-5.2%-8.5%-16.1%
11/6/2025-6.0%2.4%4.4%
8/7/20257.3%19.0%21.4%
5/8/20255.7%-2.1%2.7%
2/27/2025-15.2%-15.7%-20.4%
11/7/202413.5%12.0%10.6%
8/8/20246.5%0.4%0.2%
5/9/2024-5.0%-6.3%-10.4%
2/28/2024-7.1%-7.2%-9.7%
11/7/20231.0%1.0%8.3%
8/7/20233.9%7.2%1.4%
5/8/20235.8%0.0%3.8%
2/27/2023-2.7%-3.3%-16.8%
11/7/202213.1%17.9%13.9%
8/8/20223.7%14.4%-2.2%
5/9/20225.3%11.4%20.7%
2/28/2022-24.3%-29.8%-25.0%
8/9/20216.0%4.9%3.7%
5/10/20216.8%13.6%10.8%
2/22/2021-14.9%-18.5%-18.8%
SUMMARY STATS   
# Positive131313
# Negative1099
Median Positive6.0%8.9%4.4%
Median Negative-6.5%-8.5%-16.1%
Max Positive13.5%19.0%21.4%
Max Negative-24.3%-29.8%-25.0%

SEC Filings

Expand for More
Report DateFiling DateFiling
09/30/202611/05/202610-Q
06/30/202608/06/202610-Q
03/31/202605/07/202610-Q
12/31/202502/26/202610-K
09/30/202511/06/202510-Q
06/30/202508/07/202510-Q
03/31/202505/08/202510-Q
12/31/202402/27/202510-K
09/30/202411/07/202410-Q
06/30/202408/08/202410-Q
03/31/202405/09/202410-Q
12/31/202302/28/202410-K
09/30/202311/08/202310-Q
06/30/202308/07/202310-Q
03/31/202305/08/202310-Q
12/31/202202/27/202310-K
Collapse to Preview
Report DateFiling DateFiling
09/30/202611/05/202610-Q
06/30/202608/06/202610-Q
03/31/202605/07/202610-Q
12/31/202502/26/202610-K
09/30/202511/06/202510-Q
06/30/202508/07/202510-Q
03/31/202505/08/202510-Q
12/31/202402/27/202510-K
09/30/202411/07/202410-Q
06/30/202408/08/202410-Q
03/31/202405/09/202410-Q
12/31/202302/28/202410-K
09/30/202311/08/202310-Q
06/30/202308/07/202310-Q
03/31/202305/08/202310-Q
12/31/202202/27/202310-K
09/30/202211/07/202210-Q
06/30/202208/08/202210-Q
03/31/202205/09/202210-Q
12/31/202102/28/202210-K
09/30/202111/08/202110-Q
06/30/202108/09/202110-Q
03/31/202105/10/202110-Q
12/31/202003/01/202110-K
09/30/202011/06/202010-Q
06/30/202008/06/202010-Q
03/31/202005/11/202010-Q
12/31/201902/28/202010-K

Recent Forward Guidance

Updated 11/6/2026

Latest: Q3 2026 Earnings Reported 11/5/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
Q4 2026 Supply Constraints Impact to Total RevenuesReported -100.00 Mil    
2026 U.S. GAAP Net Cash Provided by Operating ActivitiesReported2.02 Bil2.06 Bil2.10 Bil3.1% RaisedGuidance: 2.00 Bil for 2026
2026 Estimated Transaction-related and Restructuring-related CostsReported 600.00 Mil    
2026 Total RevenuesReported14.70 Bil14.80 Bil14.90 Bil0.3% RaisedGuidance: 14.75 Bil for 2026
2026 New Product RevenuesReported 450.00 Mil -10.0% LoweredGuidance: 500.00 Mil for 2026
2026 Adjusted EBITDAReported4.45 Bil4.50 Bil4.55 Bil2.3% RaisedGuidance: 4.40 Bil for 2026
2026 Adjusted EPSReported2.562.62.633.2% RaisedGuidance: 2.52 for 2026
2026 Capital ExpendituresReported325.00 Mil362.50 Mil400.00 Mil   
2026 Free Cash Flow Excluding Transaction-related and Restructuring-related CostsReported2.23 Bil2.30 Bil2.38 Bil4.5% RaisedGuidance: 2.20 Bil for 2026
2026 Free Cash FlowReported1.62 Bil1.70 Bil1.77 Bil   


Prior: Q2 2026 Earnings Reported 8/6/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Net Cash Provided by Operating ActivitiesReported1.90 Bil2.00 Bil2.10 Bil8.1% RaisedGuidance: 1.85 Bil for 2026
2026 Product Supply Disruptions ImpactReported-150.00 Mil-125.00 Mil-100.00 Mil   
2026 RevenueReported14.55 Bil14.75 Bil14.95 Bil0.3% RaisedGuidance: 14.70 Bil for 2026
2026 New Product RevenuesReported450.00 Mil500.00 Mil550.00 Mil0.0% AffirmedGuidance: 500.00 Mil for 2026
2026 Adjusted EBITDAReported4.30 Bil4.40 Bil4.50 Bil2.3% RaisedGuidance: 4.30 Bil for 2026
2026 Adjusted EPSReported2.452.522.595.0% RaisedGuidance: 2.4 for 2026
2026 Free Cash FlowReported2.05 Bil2.20 Bil2.35 Bil2.3% RaisedGuidance: 2.15 Bil for 2026

Q1 2026 Earnings Reported 5/7/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 U.S. GAAP Net Cash Provided by Operating ActivitiesReported1.70 Bil1.85 Bil2.00 Bil   
2026 RevenueReported14.45 Bil14.70 Bil14.95 Bil0 AffirmedGuidance: 14.70 Bil for 2026
2026 New Product RevenuesReported450.00 Mil500.00 Mil550.00 Mil0 AffirmedGuidance: 500.00 Mil for 2026
2026 Adjusted EBITDAReported4.15 Bil4.30 Bil4.45 Bil0 AffirmedGuidance: 4.30 Bil for 2026
2026 Adjusted EPSReported2.332.42.470 AffirmedGuidance: 2.4 for 2026
2026 Free Cash FlowReported1.95 Bil2.15 Bil2.35 Bil0 AffirmedGuidance: 2.15 Bil for 2026

Q4 2025 Earnings Reported 2/26/2026

Forward GuidanceGuidance Change
MetricSourceLowMidHigh% Chg% DeltaChangePrior
2026 Total RevenuesReported14.45 Bil14.70 Bil14.95 Bil4.3% Higher NewActual: 14.10 Bil for 2025
2026 New Product RevenuesReported450.00 Mil500.00 Mil550.00 Mil   
2026 Adjusted EBITDAReported4.15 Bil4.30 Bil4.45 Bil4.9% Higher NewActual: 4.10 Bil for 2025
2026 Adjusted EPSReported2.332.42.474.3% Higher NewActual: 2.3 for 2025
2026 Free Cash FlowReported1.95 Bil2.15 Bil2.35 Bil7.5% Higher NewActual: 2.00 Bil for 2025

Insider Activity

Updated 8/18/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Campbell, PaulSee RemarksDirectSell626202616.1750,076809,7845,113,496Form
2Campbell, PaulSee RemarksDirectSell324202613.2821,350283,5394,864,488Form
3Simmons, David S Family TrustsBuy310202610.432132,22112,333Form
4Simmons, David S Family TrustsBuy310202610.422862,98110,110Form
5Le, Goff CorinneChief Commercial OfficerDirectSell912202510.257,03272,045361,649Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Campbell, PaulSee RemarksDirectSell626202616.1750,076809,7845,113,496Form
2Campbell, PaulSee RemarksDirectSell324202613.2821,350283,5394,864,488Form
3Simmons, David S Family TrustsBuy310202610.432132,22112,333Form
4Simmons, David S Family TrustsBuy310202610.422862,98110,110Form
5Le, Goff CorinneChief Commercial OfficerDirectSell912202510.257,03272,045361,649Form
6Smith, Scott AndrewChief Executive OfficerDirectBuy81320259.9922,000219,7403,144,355Form

Investor Activity (13F)

Updated Nov 7, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Glenview Capital Management, LLC$122.8 Mil3.3%41TRIM -18.0%13F
Active Manager
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Glenview Capital Management, LLC$122.8 Mil3.3%41TRIM -18.0%13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Glenview Capital Management, LLC$122.8 Mil3.3%41TRIM -18.0%13F
Core Cache Last Updated: 11/6/2026