Merck & Co. CEO Unloads $573,306 in Stock (MRK)
Merck & Co. (NYSE:MRK) CEO Kenneth C. Frazier unloaded 10,058 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $57.00, for a total transaction of $573,306.00. Following the sale, the chief executive officer now directly owns 335,504 shares of the company’s stock, valued at approximately $19,123,728. The sale was disclosed in a filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on MRK shares. Analysts at Jefferies Group cut their price target on shares of Merck & Co. from $63.00 to $60.00 in a research note on Monday. They now have a “hold” rating on the stock. Separately, 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. Finally, 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. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $60.54.
Shares of Merck & Co. (NYSE:MRK) traded up 0.59% on Tuesday, hitting $56.995. The stock had a trading volume of 627,267 shares. Merck & Co. has a 1-year low of $44.62 and a 1-year high of $59.84. The stock has a 50-day moving average of $57.86 and a 200-day moving average of $56.64. The company has a market cap of $164.4 billion and a P/E ratio of 29.85.
Merck & Co. (NYSE:MRK) last announced its earnings results on Tuesday, July 29th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.84 earnings per share. The company’s revenue for the quarter was down .7% on a year-over-year basis. 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. Investors 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.
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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