Merck & Co. (MRK) Insider Weir Mirian M. Graddick Sells 40,800 Shares
Merck & Co. (NYSE:MRK) insider Weir Mirian M. Graddick sold 40,800 shares of the business’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of €62.07 ($68.97), for a total value of €2,532,456.00 ($2,813,840.00). Following the completion of the sale, the insider now directly owns 128,973 shares of the company’s stock, valued at €8,005,354.11 ($8,894,837.90). The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Merck & Co. (NYSE:MRK) opened at 62.80 on Thursday. Merck & Co. has a 12 month low of $47.97 and a 12 month high of $64.00. The stock’s 50 day moving average price is $62.70 and its 200-day moving average price is $58.30. The firm has a market cap of $173.66 billion, a P/E ratio of 34.45 and a beta of 0.68.
Merck & Co. (NYSE:MRK) last issued its quarterly earnings results on Friday, July 29th. The company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. The business earned $9.84 billion during the quarter, compared to analyst estimates of $9.79 billion. Merck & Co. had a net margin of 13.01% and a return on equity of 23.41%. Merck & Co.’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the business posted $0.86 earnings per share. Equities research analysts anticipate that Merck & Co. will post $3.75 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 7th. Investors of record on Thursday, September 15th will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Tuesday, September 13th. Merck & Co.’s dividend payout ratio is currently 101.10%.
Hedge funds have recently modified their holdings of the stock. Emerald Acquisition Ltd. bought a new stake in shares of Merck & Co. during the second quarter worth $274,347,000. Orbis Allan Gray Ltd acquired a new position in shares of Merck & Co. during the first quarter worth about $239,761,000. Ameriprise Financial Inc. boosted its position in shares of Merck & Co. by 24.1% in the second quarter. Ameriprise Financial Inc. now owns 22,992,642 shares of the company’s stock worth $1,324,996,000 after buying an additional 4,468,488 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of Merck & Co. during the second quarter worth about $250,542,000. Finally, Boston Partners boosted its position in shares of Merck & Co. by 23.8% in the second quarter. Boston Partners now owns 19,034,299 shares of the company’s stock worth $1,096,566,000 after buying an additional 3,655,639 shares during the last quarter. 72.93% of the stock is owned by institutional investors and hedge funds.
Several analysts recently weighed in on MRK shares. Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $60.00 price objective on shares of Merck & Co. in a report on Wednesday, June 8th. Citigroup Inc. reaffirmed a “neutral” rating and set a $65.00 target price on shares of Merck & Co. in a report on Wednesday, August 10th. BMO Capital Markets raised Merck & Co. from a “market perform” rating to an “outperform” rating and upped their target price for the company from $62.00 to $72.00 in a report on Friday, August 5th. Jefferies Group lowered their target price on Merck & Co. from $54.00 to $53.00 and set a “hold” rating for the company in a report on Tuesday, June 14th. Finally, Morgan Stanley set a $60.00 target price on Merck & Co. and gave the company a “hold” rating in a report on Tuesday, September 13th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of €63.20 ($70.23).
Merck & Co. Company Profile
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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