Merck & Co. Receives Buy Rating from Bank of America (MRK)
Merck & Co. (NYSE:MRK)‘s stock had its “buy” rating restated by analysts at Bank of America in a research report issued to clients and investors on Thursday, AR Network reports. They currently have a $62.00 target price on the stock. Bank of America’s price target would indicate a potential upside of 7.77% from the stock’s previous close.
A number of other analysts have also recently weighed in on MRK. Analysts at Jefferies Group raised their price target on shares of Merck & Co. to $61.00 in a research note on Monday, April 14th. They now have a “hold” rating on the stock. Separately, analysts at MKM Partners raised their price target on shares of Merck & Co. from $64.00 to $70.00 in a research note on Friday, April 11th. They now have a “buy” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Merck & Co. in a research note on Thursday, March 20th. They now have a $59.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Merck & Co. has an average rating of “Buy” and an average target price of $58.20.
In other Merck & Co. news, CEO Kenneth Frazier sold 10,047 shares of Merck & Co. stock on the open market in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $57.24, for a total transaction of $575,090.28. Following the transaction, the chief executive officer now directly owns 310,494 shares of the company’s stock, valued at approximately $17,772,677. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Merck & Co. (NYSE:MRK) traded up 0.05% during mid-day trading on Thursday, hitting $57.53. 6,714,791 shares of the company’s stock traded hands. Merck & Co. has a 52 week low of $44.60 and a 52 week high of $58.32. The stock has a 50-day moving average of $56.22 and a 200-day moving average of $51.74. The company has a market cap of $169.2 billion and a P/E ratio of 39.12.
Merck & Co. (NYSE:MRK) last announced its earnings results on Wednesday, February 5th. The company reported $0.88 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.88. The company had revenue of $11.30 billion for the quarter, compared to the consensus estimate of $11.39 billion. During the same quarter in the prior year, the company posted $0.83 earnings per share. The company’s quarterly revenue was down 3.6% on a year-over-year basis. On average, analysts predict that Merck & Co. will post $3.44 earnings per share 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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