Merck & Co. Reaches New 1-Year High at $59.87 (MRK)
Merck & Co. (NYSE:MRK) shares reached a new 52-week high on Monday , ARN reports. The company traded as high as $59.87 and last traded at $59.79, with a volume of 2,230,069 shares changing hands. The stock had previously closed at $59.17.
A number of analysts have recently weighed in on MRK shares. Analysts at Zacks reiterated a “neutral” rating on shares of Merck & Co. in a research note on Monday, August 18th. They now have a $62.00 price target on the stock. Separately, 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, August 11th. They now have a “hold” rating on the stock. Finally, 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. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $60.64.
The stock has a 50-day moving average of $57.89 and a 200-day moving average of $57.00. The company has a market cap of $172.4 billion and a price-to-earnings ratio of 31.17.
Merck & Co. (NYSE:MRK) last announced 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 declared a quarterly dividend, which is scheduled for Tuesday, October 7th. Stockholders of record on Monday, September 15th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date of this dividend is Thursday, September 11th.
In other Merck & Co. news, CEO Kenneth C. Frazier sold 10,058 shares of the stock on the open market in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $57.00, for a total value of $573,306.00. The sale was disclosed in a document filed 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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