08:30 AM EDT, 05/09/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lower our 12-month target by $1 to $12 based on a '25 P/E of 4.3x, a discount to VTRS's historical forward average multiples. We lower our adjusted EPS estimates to $2.70 from $2.80 for '24 and to $2.80 from $2.90 for '25. VTRS posts Q1 adjusted EPS of $0.67 vs. $0.77 (-13%), in line with consensus. A weaker-than-expected top line was offset by stronger-than-expected margins, as net sales fell 2% to $3.65B ($40M short of consensus) and adjusted gross margin contracted 160 bps to 58.8% (130 bps ahead of consensus). VTRS revised its 2024 guidance, solely to reflect the impact of divestitures and acquisitions, which resulted in modestly lower revenue and adjusted EPS expectations. One positive was Q1 share repurchases totaling 19.2M shares for $250M, leaving $1.5B of remaining buyback capacity under its current authorization. The stock is also currently yielding 4.1% on its annualized dividend of $0.48/share. We maintain a Hold on a lack of catalysts, seeing better investing opportunities across the space.