Paradigm Capital Management Inc. NY Has $1,037,000 Position in Merck & Co. (MRK)
Paradigm Capital Management Inc. NY continued to hold its stake in Merck & Co. (NYSE:MRK) during the second quarter, according to its most recent filing with the SEC. The fund owned 18,000 shares of the company’s stock at the end of the second quarter. Paradigm Capital Management Inc. NY’s holdings in Merck & Co. were worth $1,037,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in the company. Raymond James Trust N.A. raised its position in Merck & Co. by 3.3% in the second quarter. Raymond James Trust N.A. now owns 337,745 shares of the company’s stock worth $19,457,000 after buying an additional 10,865 shares in the last quarter. Emerald Acquisition Ltd. acquired a new position in Merck & Co. during the second quarter worth approximately $274,347,000. Nordea Investment Management AB raised its position in Merck & Co. by 16.1% in the second quarter. Nordea Investment Management AB now owns 2,411,985 shares of the company’s stock worth $138,954,000 after buying an additional 334,806 shares in the last quarter. Orbis Allan Gray Ltd acquired a new position in Merck & Co. during the first quarter worth approximately $239,761,000. Finally, Envestnet Asset Management Inc. raised its position in Merck & Co. by 7.0% in the first quarter. Envestnet Asset Management Inc. now owns 1,107,242 shares of the company’s stock worth $58,584,000 after buying an additional 72,808 shares in the last quarter. 72.93% of the stock is owned by institutional investors and hedge funds.
Merck & Co. (NYSE:MRK) opened at 61.52 on Tuesday. Merck & Co. has a 52-week low of $47.97 and a 52-week high of $64.86. The firm has a market cap of $170.12 billion, a price-to-earnings ratio of 33.75 and a beta of 0.68. The stock has a 50 day moving average of $62.53 and a 200-day moving average of $58.84.
Merck & Co. (NYSE:MRK) last released its quarterly earnings data on Friday, July 29th. The company reported $0.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.02. Merck & Co. had a net margin of 13.01% and a return on equity of 23.41%. The business had revenue of $9.84 billion for the quarter, compared to analysts’ expectations of $9.79 billion. During the same quarter last year, the company earned $0.86 EPS. The company’s revenue for the quarter was up .6% compared to the same quarter last year. On average, analysts expect that Merck & Co. will post $3.75 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 7th. Investors of record on Thursday, September 15th were issued a $0.46 dividend. The ex-dividend date was Tuesday, September 13th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.99%. Merck & Co.’s dividend payout ratio (DPR) is presently 101.10%.
MRK has been the topic of a number of recent research reports. Bank of America Corp. upgraded shares of Merck & Co. from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $57.00 to $70.00 in a research note on Thursday, October 13th. Berenberg Bank restated a “hold” rating and issued a $62.00 price objective on shares of Merck & Co. in a research note on Sunday, September 11th. Jefferies Group restated a “hold” rating and issued a $65.00 price objective on shares of Merck & Co. in a research note on Sunday. Argus restated a “buy” rating and issued a $65.00 price objective on shares of Merck & Co. in a research note on Wednesday, September 14th. Finally, Barclays PLC reiterated an “overweight” rating on shares of Merck & Co. in a research note on Wednesday, October 12th. Thirteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Merck & Co. has a consensus rating of “Hold” and a consensus target price of €65.58 ($72.06).
In other Merck & Co. news, EVP Clark Golestani sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of €63.03 ($69.26), for a total transaction of €189,090.00 ($207,791.21). The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Kenneth C. Frazier sold 392,000 shares of the firm’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of €61.81 ($67.92), for a total transaction of €24,229,520.00 ($26,625,846.15). Following the transaction, the chairman now directly owns 760,877 shares in the company, valued at approximately €47,029,807.37 ($51,681,107). The disclosure for this sale can be found here. Company insiders own 0.05% of the company’s stock.
About Merck & Co.
Merck & Co, Inc is a global healthcare company. The Company offers health solutions through its prescription medicines, vaccines, biologic therapies and animal health products, which it markets directly and through its joint ventures. It operates through one segment, Pharmaceutical. The Company’s Pharmaceutical segment includes human health pharmaceutical and vaccine products marketed either directly by the Company or through joint ventures.
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