8,663 Merck & Co., Inc. $MRK Shares Sold by Factory Mutual Insurance Co.

Key Points

• Factory Mutual Insurance Co. reduced its Merck stake by 3.1%, selling 8,663 shares in the third quarter; it retained 271,361 shares valued at about $39.4 million.
• Merck reported quarterly EPS of $2.49, beating the $2.09 consensus, while revenue of $18.09 billion also topped expectations and rose 4.7% year over year.
• Analysts’ consensus rating was “Moderate Buy”, with an average price target of $155.74; insiders sold 156,685 shares over the past three months.

Factory Mutual Insurance Co. trimmed its holdings in Merck & Co., Inc. (NYSE:MRK - Free Report) by 3.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 271,361 shares of the company's stock after selling 8,663 shares during the quarter. Factory Mutual Insurance Co.'s holdings in Merck & Co., Inc. were worth $39,431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of MRK. Bullseye Investment Management LLC purchased a new stake in Merck & Co., Inc. in the second quarter worth about $27,000. Curry Webb Wealth Management LLC bought a new position in shares of Merck & Co., Inc. during the third quarter valued at approximately $29,000. Horizons Wealth Management purchased a new position in shares of Merck & Co., Inc. during the third quarter valued at approximately $30,000. Graney & King LLC lifted its holdings in shares of Merck & Co., Inc. by 400.0% during the second quarter. Graney & King LLC now owns 250 shares of the company's stock valued at $32,000 after purchasing an additional 200 shares during the last quarter. Finally, Montgomery Financial Services LLC purchased a new position in shares of Merck & Co., Inc. during the second quarter valued at approximately $41,000. 76.07% of the stock is owned by hedge funds and other institutional investors.

Merck & Co., Inc. Trading Down 2.6%

NYSE:MRK opened at $144.50 on Wednesday. The company's 50 day moving average price is $146.70 and its 200-day moving average price is $127.06. Merck & Co., Inc. has a 52 week low of $82.01 and a 52 week 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 stock has a market cap of $356.50 billion, a price-to-earnings ratio of 148.97, a PEG ratio of 6.70 and a beta of 0.13.

Merck & Co., Inc. (NYSE:MRK - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The company reported $2.49 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $18.09 billion during the quarter, compared to the consensus estimate of $17.33 billion. During the same quarter last year, the firm earned $2.58 earnings per share. The firm's quarterly revenue was up 4.7% compared to the same quarter last year. On average, equities research analysts forecast that Merck & Co., Inc. will post 2.87 earnings per share for the current fiscal year.

Insider Activity at Merck & Co., Inc.

In other Merck & Co., Inc. news, EVP Richard R. Deluca sold 20,784 shares of Merck & Co., Inc. stock in a transaction on Monday, August 10th. The stock was sold at an average price of $130.43, for a total value of $2,710,857.12. Following the completion of the sale, the executive vice president owned 134,703 shares of the company's stock, valued at approximately $17,569,312.29. This trade represents a 13.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jennifer Zachary sold 80,315 shares of Merck & Co., Inc. stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $133.46, for a total value of $10,718,839.90. Following the completion of the sale, the executive vice president directly owned 45,509 shares of the company's stock, valued at approximately $6,073,631.14. The trade was a 63.83% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 156,685 shares of company stock valued at $20,764,839. 0.17% of the stock is owned by corporate insiders.

Analyst Ratings Changes

MRK has been the topic of a number of analyst reports. Citigroup boosted their price target on Merck & Co., Inc. from $125.00 to $145.00 and gave the stock a "neutral" rating in a research report on Monday, October 12th. Wells Fargo & Company raised their price objective on Merck & Co., Inc. from $150.00 to $170.00 and gave the company an "overweight" rating in a research report on Friday, September 4th. Daiwa Securities Group raised Merck & Co., Inc. from a "neutral" rating to an "outperform" rating and set a $143.00 price objective for the company in a research report on Wednesday, August 12th. The Goldman Sachs Group lifted their price objective on Merck & Co., Inc. from $140.00 to $160.00 and gave the company a "buy" rating in a research note on Friday, August 21st. Finally, Argus boosted their target price on Merck & Co., Inc. from $145.00 to $170.00 and gave the stock a "buy" rating in a report on Tuesday, August 25th. Seventeen equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $155.74.

More Merck & Co., Inc. News

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. 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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