Merck & Co., Inc. (NYSE:MRK) had its price objective raised by research analysts at BMO Capital Markets from $68.00 to $72.00 in a report released on Wednesday, The Fly reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective indicates a potential upside of 15.68% from the stock’s previous close.
MRK has been the topic of several other research reports. JPMorgan Chase & Co. set a $70.00 target price on Merck & Co., Inc. and gave the company a “buy” rating in a research note on Sunday, October 29th. Berenberg Bank restated a “hold” rating on shares of Merck & Co., Inc. in a research note on Wednesday, November 1st. Bank of America began coverage on Merck & Co., Inc. in a research note on Tuesday, November 28th. They issued a “buy” rating and a $64.00 target price on the stock. Sanford C. Bernstein restated a “buy” rating and issued a $64.00 target price on shares of Merck & Co., Inc. in a research note on Wednesday, November 15th. Finally, Deutsche Bank cut their target price on Merck & Co., Inc. from $62.00 to $59.00 and set a “hold” rating on the stock in a research note on Friday, November 24th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $67.06.
Shares of Merck & Co., Inc. (NYSE MRK) opened at $62.24 on Wednesday. The company has a market capitalization of $169,780.00, a P/E ratio of 60.43, a price-to-earnings-growth ratio of 2.93 and a beta of 0.76. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.43 and a quick ratio of 1.16. Merck & Co., Inc. has a 12 month low of $53.63 and a 12 month high of $66.80.
Merck & Co., Inc. declared that its board has authorized a stock buyback program on Tuesday, November 28th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.
In related news, EVP Michael J. Holston sold 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $61.63, for a total transaction of $770,375.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Thomas H. Glocer sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $56.20, for a total value of $281,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 82,500 shares of company stock worth $5,039,175 in the last ninety days. Insiders own 0.25% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Perennial Advisors LLC increased its holdings in shares of Merck & Co., Inc. by 10.7% during the 2nd quarter. Perennial Advisors LLC now owns 1,626 shares of the company’s stock worth $104,000 after acquiring an additional 157 shares during the last quarter. Stelac Advisory Services LLC acquired a new position in shares of Merck & Co., Inc. during the 2nd quarter worth approximately $104,000. Cascade Investment Advisors Inc. increased its holdings in shares of Merck & Co., Inc. by 15.5% during the 2nd quarter. Cascade Investment Advisors Inc. now owns 1,727 shares of the company’s stock worth $111,000 after acquiring an additional 232 shares during the last quarter. NewSquare Capital LLC increased its holdings in shares of Merck & Co., Inc. by 728.3% during the 3rd quarter. NewSquare Capital LLC now owns 14,801 shares of the company’s stock worth $115,000 after acquiring an additional 13,014 shares during the last quarter. Finally, Solaris Asset Management LLC increased its holdings in shares of Merck & Co., Inc. by 6.3% during the 2nd quarter. Solaris Asset Management LLC now owns 1,940 shares of the company’s stock worth $124,000 after acquiring an additional 115 shares during the last quarter. 73.68% of the stock is currently owned by institutional investors and hedge funds.
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About Merck & Co., Inc.
Merck & Co, Inc is a global healthcare company. The Company offers health solutions through its prescription medicines, vaccines, biologic therapies and animal health products. It operates through four segments: Pharmaceutical, Animal Health, Healthcare Services and Alliances. The Company’s Pharmaceutical segment includes human health pharmaceutical and vaccine products marketed either directly by the Company or through joint ventures.
