Novem Group Invests $3.81 Million in Merck & Co., Inc. (NYSE:MRK)

Novem Group acquired a new position in Merck & Co., Inc. (NYSE:MRK) in the fourth quarter, Holdings Channel.com reports. The firm acquired 38,337 shares of the company’s stock, valued at approximately $3,814,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in Merck & Co., Inc. during the 4th quarter valued at about $3,479,799,000. Bank of New York Mellon Corp raised its position in Merck & Co., Inc. by 29.7% during the 4th quarter. Bank of New York Mellon Corp now owns 24,213,537 shares of the company’s stock valued at $2,408,763,000 after purchasing an additional 5,550,824 shares during the last quarter. Wellington Management Group LLP raised its position in Merck & Co., Inc. by 6.5% during the 4th quarter. Wellington Management Group LLP now owns 80,742,030 shares of the company’s stock valued at $8,032,217,000 after purchasing an additional 4,932,647 shares during the last quarter. Northern Trust Corp raised its position in Merck & Co., Inc. by 16.8% during the 4th quarter. Northern Trust Corp now owns 31,377,107 shares of the company’s stock valued at $3,121,395,000 after purchasing an additional 4,511,742 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Merck & Co., Inc. by 63.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 11,577,535 shares of the company’s stock valued at $1,151,642,000 after purchasing an additional 4,480,007 shares during the last quarter. 76.07% of the stock is currently owned by hedge funds and other institutional investors.

Merck & Co., Inc. Stock Up 0.9%

MRK stock opened at $77.92 on Wednesday. Merck & Co., Inc. has a twelve month low of $73.31 and a twelve month high of $134.63. 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 $195.66 billion, a PE ratio of 11.58, a price-to-earnings-growth ratio of 0.77 and a beta of 0.43. The business has a 50 day moving average of $82.80 and a 200 day moving average of $91.89.

Merck & Co., Inc. (NYSE:MRK) last posted its quarterly earnings data on Thursday, April 24th. The company reported $2.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.06. Merck & Co., Inc. had a return on equity of 45.35% and a net margin of 26.67%. The company had revenue of $15.53 billion during the quarter, compared to analyst estimates of $15.59 billion. During the same quarter last year, the company earned $2.07 EPS. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, research analysts forecast that Merck & Co., Inc. will post 9.01 EPS for the current fiscal year.

Merck & Co., Inc. announced that its Board of Directors has approved a stock repurchase plan on Tuesday, January 28th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 4.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Merck & Co., Inc.

In other Merck & Co., Inc. news, SVP Dalton E. Smart III sold 4,262 shares of the stock in a transaction on Friday, April 25th. The stock was sold at an average price of $82.76, for a total transaction of $352,723.12. Following the sale, the senior vice president now directly owns 7,778 shares in the company, valued at approximately $643,707.28. This trade represents a 35.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on MRK shares. TD Securities lowered Merck & Co., Inc. from a “buy” rating to a “hold” rating and lowered their price target for the company from $121.00 to $100.00 in a research report on Monday, February 10th. Guggenheim reissued a “buy” rating and issued a $115.00 target price on shares of Merck & Co., Inc. in a research report on Thursday, April 17th. TD Cowen cut Merck & Co., Inc. from a “buy” rating to a “hold” rating and lowered their target price for the company from $121.00 to $100.00 in a research note on Monday, February 10th. Bank of America reduced their price target on Merck & Co., Inc. from $118.00 to $112.00 and set a “buy” rating on the stock in a research note on Wednesday, February 5th. Finally, Cantor Fitzgerald cut Merck & Co., Inc. from an “overweight” rating to a “cautious” rating in a research note on Tuesday. One analyst has rated the stock with a sell rating, twelve have given a hold rating, seven have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $109.19.

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.