Provenance Wealth Advisors LLC increased its holdings in shares of Merck & Co., Inc. (NYSE:MRK – Free Report) by 997.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,811 shares of the company’s stock after acquiring an additional 15,279 shares during the quarter. Provenance Wealth Advisors LLC’s holdings in Merck & Co., Inc. were worth $2,443,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Hughes Financial Services LLC grew its stake in Merck & Co., Inc. by 10.7% in the 3rd quarter. Hughes Financial Services LLC now owns 1,286 shares of the company’s stock valued at $188,000 after buying an additional 124 shares during the last quarter. Integras Partners LLC acquired a new stake in Merck & Co., Inc. during the third quarter worth approximately $223,000. Lyell Wealth Management LP lifted its position in Merck & Co., Inc. by 4.4% during the third quarter. Lyell Wealth Management LP now owns 11,294 shares of the company’s stock worth $1,641,000 after acquiring an additional 478 shares during the last quarter. Associated Banc Corp bought a new stake in shares of Merck & Co., Inc. during the third quarter worth approximately $12,956,000. Finally, Richwood Investment Advisors LLC boosted its holdings in shares of Merck & Co., Inc. by 1.2% during the third quarter. Richwood Investment Advisors LLC now owns 13,201 shares of the company’s stock worth $1,918,000 after acquiring an additional 156 shares during the period. Institutional investors own 76.07% of the company’s stock.
Merck & Co., Inc. Price Performance
Shares of Merck & Co., Inc. stock opened at $144.50 on Wednesday. Merck & Co., Inc. has a twelve month low of $82.01 and a twelve month high of $156.92. The company has a quick ratio of 1.10, a current ratio of 1.32 and a debt-to-equity ratio of 1.22. The company has a 50-day simple moving average of $146.70 and a two-hundred day simple moving average of $127.06. The stock has a market capitalization of $356.50 billion, a price-to-earnings ratio of 148.97, a price-to-earnings-growth ratio of 6.70 and a beta of 0.13.
Merck & Co., Inc. (NYSE:MRK – Get Free Report) last announced its earnings results on Thursday, October 29th. The company reported $2.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $0.40. Merck & Co., Inc. had a net margin of 3.64% and a return on equity of 16.56%. The firm had revenue of $18.09 billion for the quarter, compared to analyst estimates of $17.33 billion. During the same quarter in the prior year, the business posted $2.58 EPS. The business’s revenue was up 4.7% compared to the same quarter last year. Analysts forecast that Merck & Co., Inc. will post 2.87 EPS for the current year.
Insider Activity at Merck & Co., Inc.
In related news, EVP Jennifer Zachary sold 80,315 shares of the stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $133.46, for a total transaction of $10,718,839.90. Following the sale, the executive vice president owned 45,509 shares of the company’s stock, valued at $6,073,631.14. This represents a 63.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Richard Deluca sold 11,699 shares of the firm’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $131.63, for a total value of $1,539,939.37. Following the transaction, the executive vice president owned 110,167 shares in the company, valued at approximately $14,501,282.21. This trade represents a 9.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 156,685 shares of company stock worth $20,764,839. Company insiders own 0.17% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on MRK shares. Citigroup upped their target price on Merck & Co., Inc. from $125.00 to $145.00 and gave the company a “neutral” rating in a research report on Monday, October 12th. TD Cowen lifted their price target on Merck & Co., Inc. from $137.00 to $155.00 and gave the stock a “hold” rating in a report on Wednesday, September 23rd. Sanford C. Bernstein boosted their price target on Merck & Co., Inc. from $100.00 to $105.00 and gave the company a “market perform” rating in a research note on Tuesday, August 4th. UBS Group boosted their price target on Merck & Co., Inc. from $145.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Finally, Wall Street Zen lowered Merck & Co., Inc. from a “buy” rating to a “hold” rating in a report on Saturday, October 3rd. Seventeen investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $155.74.
Read Our Latest Research Report on Merck & Co., Inc.
Key Headlines Impacting Merck & Co., Inc.
Here are the key news stories impacting Merck & Co., Inc. this week:
- Positive Sentiment: Merck began a Phase 3 trial of Ohtuvayre (ensifentrine) to assess whether it can prevent COPD exacerbations in higher-risk adults. A successful study could support the drug’s growth potential and broaden Merck’s pipeline. Merck initiates Phase 3 Ohtuvayre study
- Positive Sentiment: The U.S. FDA granted emergency-use authorization for a Merck treatment against screwworm in dogs, providing a near-term product opportunity. Reuters report on FDA authorization
- Neutral Sentiment: Merck’s pipeline is being viewed as a potential future growth driver, and its CEO has targeted $70 billion in revenue in the mid-2030s. However, the outlook depends on development and launch execution. Article on Merck’s pipeline and growth outlook
- Negative Sentiment: DZ Bank downgraded MRK from Buy to Hold, despite setting a $153 price target. The move adds to caution around the stock; commentary also points to the looming patent cliff as a key longer-term risk. DZ Bank rating change
Merck & Co., Inc. Company Profile
Merck & Co, Inc is a global healthcare company that develops, manufactures and markets prescription medicines, vaccines and animal-health products. Its pharmaceutical business focuses on oncology, infectious diseases, cardiology, immunology and other areas of significant medical need. The company serves patients, healthcare providers and institutions in markets worldwide.
Merck’s principal products include Keytruda, an immunotherapy used to treat a range of cancers; Gardasil and Gardasil 9, vaccines that help protect against human papillomavirus; and Januvia and Janumet, medicines used to manage type 2 diabetes.
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