Merck & Co. Price Target Cut to $60.00 (MRK)
Analysts at Jefferies Group dropped their target price on shares of Merck & Co. (NYSE:MRK) from $63.00 to $60.00 in a research report issued to clients and investors on Monday. Jefferies Group’s target price indicates a potential upside of 6.10% from the stock’s previous close.
Merck & Co. (NYSE:MRK) traded up 0.69% on Monday, hitting $56.94. 1,583,956 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 has a 50-day moving average of $57.94 and a 200-day moving average of $56.57. The company has a market cap of $164.3 billion and a P/E ratio of 29.79.
Merck & Co. (NYSE:MRK) last released its earnings results on Tuesday, July 29th. The company reported $0.85 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.80 by $0.05. The company had revenue of $10.93 billion for the quarter, compared to the consensus estimate of $10.60 billion. During the same quarter last year, the company posted $0.84 earnings per share. Merck & Co.’s revenue was down .7% compared to the same quarter last year. On average, analysts predict that Merck & Co. will post $3.49 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, October 7th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Thursday, September 11th.
Several other analysts have also recently commented on the stock. Analysts at Credit Suisse reiterated a “neutral” rating on shares of Merck & Co. in a research note on Thursday, July 31st. They now have a $59.00 price target on the stock, up previously from $56.00. Separately, analysts at BMO Capital Markets raised their price target on shares of Merck & Co. from $60.00 to $62.00 in a research note on Thursday, July 31st. Finally, analysts at Mainfirst upgraded shares of Merck & Co. from an “underperform” rating to an “outperform” rating in a research note on Monday, July 28th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $60.54.
In other Merck & Co. news, Insider Adele D. Ambrose unloaded 28,669 shares of Merck & Co. stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $56.64, for a total transaction of $1,623,812.16. The sale was disclosed in a legal filing with the SEC, which is available at 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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