Merck & Co., Inc. (MRK) Hits New 12-Month High on Analyst Upgrade
Merck & Co., Inc. (NYSE:MRK)’s share price reached a new 52-week high on Monday after Barclays raised their price target on the stock from $70.00 to $75.00. Barclays currently has an overweight rating on the stock. Merck & Co., Inc. traded as high as $70.59 and last traded at $69.65, with a volume of 262365 shares changing hands. The stock had previously closed at $69.88.
Other equities analysts also recently issued research reports about the company. TheStreet raised Merck & Co., Inc. from a “c+” rating to a “b-” rating in a research report on Friday, June 8th. Morgan Stanley set a $74.00 target price on Merck & Co., Inc. and gave the company a “buy” rating in a research report on Thursday, August 23rd. SunTrust Banks reaffirmed a “buy” rating and issued a $77.00 price objective on shares of Merck & Co., Inc. in a research report on Thursday, August 16th. Bank of America upped their price objective on Merck & Co., Inc. from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Monday, July 30th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $70.00 price objective on shares of Merck & Co., Inc. in a research report on Sunday, July 22nd. Six research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $67.93.
In other Merck & Co., Inc. news, Chairman Kenneth C. Frazier sold 228,091 shares of the company’s stock in a transaction on Tuesday, July 31st. The stock was sold at an average price of $65.00, for a total value of $14,825,915.00. Following the transaction, the chairman now owns 938,788 shares of the company’s stock, valued at approximately $61,021,220. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Adam H. Schechter sold 134,094 shares of the company’s stock in a transaction on Monday, June 18th. The shares were sold at an average price of $61.00, for a total value of $8,179,734.00. Following the completion of the transaction, the executive vice president now directly owns 100,000 shares in the company, valued at approximately $6,100,000. The disclosure for this sale can be found here. Insiders sold a total of 396,393 shares of company stock worth $25,235,061 in the last ninety days. 0.32% of the stock is currently owned by corporate insiders.
The company has a debt-to-equity ratio of 0.61, a current ratio of 1.33 and a quick ratio of 1.04. The company has a market capitalization of $187.84 billion, a price-to-earnings ratio of 17.39, a price-to-earnings-growth ratio of 2.40 and a beta of 0.81.
Merck & Co., Inc. (NYSE:MRK) last issued its quarterly earnings data on Friday, July 27th. The company reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.03. The firm had revenue of $10.47 billion during the quarter, compared to analysts’ expectations of $10.28 billion. Merck & Co., Inc. had a return on equity of 32.68% and a net margin of 3.67%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.01 EPS. analysts forecast that Merck & Co., Inc. will post 4.27 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 5th. Investors of record on Monday, September 17th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date is Friday, September 14th. Merck & Co., Inc.’s dividend payout ratio (DPR) is currently 48.24%.
About Merck & Co., Inc. (NYSE:MRK)
Merck & Co, Inc provides healthcare solutions worldwide. It operates in four segments: Pharmaceutical, Animal Health, Healthcare Services, and Alliances. The company offers therapeutic and preventive agents to treat cardiovascular diseases, type 2 diabetes, asthma, nasal allergy symptoms, allergic rhinitis, chronic hepatitis C virus, HIV-1 infection, fungal, intra-abdominal infections, hypertension, arthritis and pain, inflammatory, osteoporosis, and fertility diseases.
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