Investors Sell Shares of Merck & Co. (MRK) on Strength (MRK)
Traders sold shares of Merck & Co. (NYSE:MRK) on strength during trading hours on Tuesday. $65.47 million flowed into the stock on the tick-up and $119.97 million flowed out of the stock on the tick-down, for a money net flow of $54.50 million out of the stock. Of all companies tracked, Merck & Co. had the 0th highest net out-flow for the day. Merck & Co. traded up $0.26 for the day and closed at $59.60
Several analysts have recently weighed in on the stock. Bank of America Corp. reaffirmed a “hold” rating on shares of Merck & Co. in a research note on Thursday, May 12th. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $60.00 price target on shares of Merck & Co. in a research note on Wednesday, June 8th. Jefferies Group boosted their price objective on shares of Merck & Co. from $51.00 to $54.00 and gave the stock a “hold” rating in a research note on Friday, April 15th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Merck & Co. in a research note on Thursday, May 19th. Finally, Societe Generale assumed coverage on shares of Merck & Co. in a research note on Wednesday, April 6th. They issued a “buy” rating for the company. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of €60.22 ($66.17).
The firm has a market capitalization of $164.97 billion and a P/E ratio of 36.54. The stock’s 50-day moving average price is $57.04 and its 200-day moving average price is $53.86.
Merck & Co. (NYSE:MRK) last released its earnings results on Thursday, May 5th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.04. The business had revenue of $9.30 billion for the quarter, compared to analyst estimates of $9.45 billion. Merck & Co.’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.85 earnings per share. Analysts anticipate that Merck & Co. will post $3.72 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 8th. Shareholders of record on Wednesday, June 15th were issued a dividend of $0.46 per share. The ex-dividend date of this dividend was Monday, June 13th. This represents a $1.84 dividend on an annualized basis and a yield of 3.10%.
In other news, insider Weir Mirian M. Graddick sold 45,000 shares of the firm’s stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of €57.99 ($63.73), for a total value of €2,609,550.00 ($2,867,637.36). Following the sale, the insider now directly owns 123,151 shares in the company, valued at approximately €7,141,526.49 ($7,847,831.31). The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kenneth C. Frazier sold 60,000 shares of the firm’s stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of €58.00 ($63.74), for a total transaction of €3,480,000.00 ($3,824,175.82). Following the completion of the sale, the chief executive officer now owns 554,856 shares in the company, valued at €32,181,648 ($35,364,448.35). The disclosure for this sale can be found here.
Several large investors have recently made changes to their positions in the stock. Sippican Capital Advisors raised its stake in shares of Merck & Co. by 0.9% in the fourth quarter. Sippican Capital Advisors now owns 19,294 shares of the company’s stock worth $1,019,000 after buying an additional 175 shares during the last quarter. Sawtooth Asset Management Inc. raised its stake in shares of Merck & Co. by 304.6% in the fourth quarter. Sawtooth Asset Management Inc. now owns 19,920 shares of the company’s stock worth $1,052,000 after buying an additional 14,997 shares during the last quarter. Curbstone Financial Management raised its stake in shares of Merck & Co. by 91.4% in the fourth quarter. Curbstone Financial Management now owns 20,058 shares of the company’s stock worth $1,059,000 after buying an additional 9,579 shares during the last quarter. Fort Pitt Capital Group LLC purchased a new stake in shares of Merck & Co. during the fourth quarter worth $1,071,000. Finally, Northeast Investment Management raised its stake in shares of Merck & Co. by 2.3% in the fourth quarter. Northeast Investment Management now owns 21,542 shares of the company’s stock worth $1,138,000 after buying an additional 476 shares during the last quarter.
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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