Merck & Co. PT Raised to $60.00 (MRK)
Equities research analysts at Leerink Swann raised their target price on shares of Merck & Co. (NYSE:MRK) from $57.00 to $60.00 in a research note issued to investors on Tuesday. Leerink Swann’s target price suggests a potential upside of 3.15% from the company’s current price.
Shares of Merck & Co. (NYSE:MRK) traded down 0.60% during mid-day trading on Tuesday, hitting $58.17. 8,270,120 shares of the company’s stock traded hands. Merck & Co. has a one year low of $44.62 and a one year high of $59.84. The stock’s 50-day moving average is $57.9 and its 200-day moving average is $55.53. The company has a market cap of $170.0 billion and a price-to-earnings ratio of 38.60. Merck & Co. also was the target of a large growth in short interest in June. As of June 13th, there was short interest totalling 33,266,511 shares, a growth of 13.9% from the May 30th total of 29,199,196 shares. Currently, 1.1% of the company’s stock are sold short. Based on an average daily volume of 8,013,666 shares, the days-to-cover ratio is currently 4.2 days.
Merck & Co. (NYSE:MRK) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.09. The company had revenue of $10.30 billion for the quarter, compared to the consensus estimate of $10.44 billion. During the same quarter in the previous year, the company posted $0.85 earnings per share. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, analysts predict that Merck & Co. will post $3.48 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 8th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 3.03%. The ex-dividend date is Thursday, June 12th.
Other equities research analysts have also recently issued reports about the stock. Analysts at Citigroup Inc. raised their price target on shares of Merck & Co. from $44.00 to $57.00 in a research note on Monday. They now have a “neutral” rating on the stock. Separately, analysts at Barclays raised their price target on shares of Merck & Co. from $50.00 to $61.00 in a research note on Wednesday, July 2nd. They now have an “equal weight” rating on the stock. Finally, analysts at Bank of America reiterated a “buy” rating on shares of Merck & Co. in a research note on Thursday, June 12th. They now have a $62.00 price target on the stock, down previously from $65.00. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Merck & Co. has a consensus rating of “Hold” and a consensus price target of $60.21.
In other Merck & Co. news, Insider Weir Mirian M. Graddick unloaded 180,047 shares of the stock on the open market in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $59.16, for a total value of $10,651,580.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
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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