Traders Purchase Large Volume of Put Options on Merck & Co (MRK)
Shares of Merck & Co (NYSE:MRK) saw unusually large options trading activity on Monday. Investors purchased 14,888 put options on the stock, AnalystRatingsNetwork.com reports. This is an increase of approximately 103% compared to the typical daily volume of 7,350 put options.
Several analysts have recently commented on the stock. Analysts at TheStreet reiterated a “buy” rating on shares of Merck & Co (NYSE:MRK) in a research note to investors on Monday. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Merck & Co (NYSE:MRK) in a research note to investors on Thursday, September 12th. They now have a $51.00 price target on the stock. Finally, analysts at BMO Capital Markets raised their EPS on shares of Merck & Co (NYSE:MRK) in a research note to investors on Tuesday, September 10th. They now have a “market perform” rating and a $50.00 price target on the stock.
Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the stock. Merck & Co currently has a consensus rating of “Hold” and an average target price of $51.03.
Merck & Co (NYSE:MRK) traded down 0.23% during mid-day trading on Tuesday, hitting $48.08. 2,940,461 shares of the company’s stock traded hands. Merck & Co has a 52 week low of $40.02 and a 52 week high of $50.16. The stock’s 50-day moving average is $47.9 and its 200-day moving average is $46.78. The company has a market cap of $140.7 billion and a P/E ratio of 28.86.
Merck & Co (NYSE:MRK) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.02. The company had revenue of $11.01 billion for the quarter, compared to the consensus estimate of $11.22 billion. During the same quarter last year, the company posted $1.05 earnings per share. Merck & Co’s revenue was down 10.6% compared to the same quarter last year. Analysts expect that Merck & Co will post $3.48 EPS for the current fiscal year.
Merck & Co, Inc (NYSE:MRK) is a global health care company that delivers health solutions through its prescription medicines, vaccines, biologic therapies, animal health, and consumer care products, which it markets directly and through its joint ventures.
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