CIBC Asset Management Inc Has $29.31 Million Stake in Merck & Co., Inc. (NYSE:MRK)

CIBC Asset Management Inc grew its holdings in shares of Merck & Co., Inc. (NYSE:MRK) by 55.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 380,952 shares of the company’s stock after acquiring an additional 135,532 shares during the quarter. CIBC Asset Management Inc’s holdings in Merck & Co., Inc. were worth $29,310,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Norges Bank acquired a new position in shares of Merck & Co., Inc. during the fourth quarter worth approximately $2,503,956,000. Janus Henderson Group PLC raised its position in Merck & Co., Inc. by 16.5% in the 4th quarter. Janus Henderson Group PLC now owns 28,954,215 shares of the company’s stock valued at $2,633,372,000 after buying an additional 4,108,756 shares during the last quarter. Nuveen Asset Management LLC raised its position in Merck & Co., Inc. by 9.7% in the 4th quarter. Nuveen Asset Management LLC now owns 25,530,146 shares of the company’s stock valued at $2,321,967,000 after buying an additional 2,261,603 shares during the last quarter. Renaissance Technologies LLC raised its position in Merck & Co., Inc. by 40.2% in the 4th quarter. Renaissance Technologies LLC now owns 5,673,243 shares of the company’s stock valued at $515,981,000 after buying an additional 1,625,830 shares during the last quarter. Finally, Macquarie Group Ltd. raised its position in Merck & Co., Inc. by 11.4% in the 4th quarter. Macquarie Group Ltd. now owns 13,242,797 shares of the company’s stock valued at $1,204,433,000 after buying an additional 1,353,763 shares during the last quarter. 75.76% of the stock is owned by hedge funds and other institutional investors.

Shares of MRK stock traded down $0.76 on Monday, hitting $76.91. 154,616 shares of the stock were exchanged, compared to its average volume of 11,012,005. Merck & Co., Inc. has a one year low of $65.25 and a one year high of $92.64. The firm’s 50 day moving average is $77.64 and its two-hundred day moving average is $83.98. The company has a current ratio of 1.24, a quick ratio of 0.97 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $196.99 billion, a PE ratio of 19.66, a P/E/G ratio of 2.16 and a beta of 0.50.

Merck & Co., Inc. (NYSE:MRK) last issued its earnings results on Tuesday, April 28th. The company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.34 by $0.16. Merck & Co., Inc. had a return on equity of 52.18% and a net margin of 21.10%. The business had revenue of $12.06 billion during the quarter, compared to the consensus estimate of $11.46 billion. During the same quarter last year, the company earned $1.22 EPS. The firm’s revenue was up 11.5% compared to the same quarter last year. On average, sell-side analysts expect that Merck & Co., Inc. will post 5.31 earnings per share for the current year.

A number of equities research analysts recently commented on MRK shares. Royal Bank of Canada lowered their price target on Merck & Co., Inc. from $92.00 to $89.00 and set a “sector perform” rating for the company in a research report on Wednesday, April 1st. ValuEngine upgraded Merck & Co., Inc. from a “sell” rating to a “hold” rating in a research note on Saturday, February 29th. Barclays reduced their price objective on Merck & Co., Inc. from $93.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, April 29th. Argus reduced their price objective on Merck & Co., Inc. from $105.00 to $95.00 and set a “buy” rating for the company in a research note on Tuesday, March 24th. Finally, UBS Group reduced their price objective on Merck & Co., Inc. from $96.00 to $92.00 and set a “buy” rating for the company in a research note on Monday, April 13th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $93.60.

Merck & Co., Inc. Profile

Merck & Co, Inc provides healthcare solutions worldwide. It operates through four segments: Pharmaceutical, Animal Health, Healthcare Services, and Alliances. The company offers therapeutic and preventive agents to treat cardiovascular, type 2 diabetes, chronic hepatitis C virus, HIV-1 infection, intra-abdominal, fungal infection, insomnia, and inflammatory diseases.

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Institutional Ownership by Quarter for Merck & Co., Inc. (NYSE:MRK)

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