Strive Asset Management LLC purchased a new position in shares of Merck & Co., Inc. (NYSE:MRK – Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 5,006 shares of the company’s stock, valued at approximately $498,000.
Other hedge funds also recently bought and sold shares of the company. Midwest Capital Advisors LLC acquired a new stake in shares of Merck & Co., Inc. in the fourth quarter valued at about $26,000. Financial Life Planners acquired a new stake in Merck & Co., Inc. in the 4th quarter valued at about $28,000. Noble Wealth Management PBC purchased a new position in Merck & Co., Inc. in the 4th quarter worth approximately $28,000. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Merck & Co., Inc. during the 4th quarter worth approximately $28,000. Finally, Promus Capital LLC purchased a new stake in shares of Merck & Co., Inc. in the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 76.07% of the company’s stock.
Merck & Co., Inc. Stock Performance
MRK opened at $76.08 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.36 and a debt-to-equity ratio of 0.79. The firm has a market cap of $191.03 billion, a PE ratio of 11.30, a P/E/G ratio of 0.77 and a beta of 0.43. The business has a fifty day simple moving average of $83.46 and a 200-day simple moving average of $92.24. Merck & Co., Inc. has a fifty-two week low of $73.31 and a fifty-two week high of $134.63.
Merck & Co., Inc. declared that its Board of Directors has initiated a share buyback program on Tuesday, January 28th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 4.1% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
Insider Activity
In related news, SVP Dalton E. Smart III sold 4,262 shares of the stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $82.76, for a total value of $352,723.12. Following the completion of the sale, the senior vice president now owns 7,778 shares in the company, valued at approximately $643,707.28. This trade represents a 35.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.13% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have issued reports on MRK shares. Deutsche Bank Aktiengesellschaft cut Merck & Co., Inc. from a “buy” rating to a “hold” rating and dropped their target price for the company from $128.00 to $105.00 in a report on Tuesday, February 18th. TD Cowen lowered shares of Merck & Co., Inc. from a “buy” rating to a “hold” rating and dropped their price objective for the company from $121.00 to $100.00 in a report on Monday, February 10th. Citigroup reaffirmed a “neutral” rating and set a $84.00 target price (down from $115.00) on shares of Merck & Co., Inc. in a research note on Wednesday. Guggenheim reissued a “buy” rating and issued a $115.00 price target on shares of Merck & Co., Inc. in a research note on Thursday, April 17th. Finally, Cantor Fitzgerald started coverage on shares of Merck & Co., Inc. in a report on Tuesday, April 22nd. They set a “neutral” rating and a $85.00 price target for the company. Thirteen analysts have rated the stock with a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $109.19.
View Our Latest Analysis on MRK
Merck & Co., Inc. Company Profile
Merck & Co, Inc is a health care company, which engages in the provision of health solutions through its prescription medicines, vaccines, biologic therapies, animal health, and consumer care products. It operates through the following segments: Pharmaceutical, Animal Health, and Other. The Pharmaceutical segment includes human health pharmaceutical and vaccine products.
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