Legacy Capital Group California Inc. Sells 17,121 Shares of Merck & Co., Inc. $MRK

Key Points

• Legacy Capital Group California Inc. cut its Merck stake by 61.6% in the first quarter, selling 17,121 shares and leaving it with 10,684 shares valued at about $1.285 million.
• Merck is getting a boost from positive company and regulatory news, including FDA expansion of Keytruda use in bladder cancer and multiple Wall Street firms raising price targets while keeping bullish ratings.
• The stock remains supported by strong institutional interest and solid recent results, but Keytruda’s patent cliff continues to be viewed as a key long-term risk despite the upbeat near-term outlook.

Legacy Capital Group California Inc. trimmed its holdings in shares of Merck & Co., Inc. (NYSE:MRK - Free Report) by 61.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,684 shares of the company's stock after selling 17,121 shares during the quarter. Legacy Capital Group California Inc.'s holdings in Merck & Co., Inc. were worth $1,285,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of MRK. Norges Bank bought a new stake in Merck & Co., Inc. during the fourth quarter worth approximately $3,997,933,000. Wellington Management Group LLP grew its position in Merck & Co., Inc. by 14.8% during the fourth quarter. Wellington Management Group LLP now owns 86,435,458 shares of the company's stock worth $9,098,196,000 after buying an additional 11,156,354 shares in the last quarter. Cardano Risk Management B.V. bought a new stake in shares of Merck & Co., Inc. during the fourth quarter valued at approximately $1,012,530,000. Jennison Associates LLC bought a new stake in Merck & Co., Inc. in the 4th quarter valued at $585,192,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in Merck & Co., Inc. by 37.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 18,753,390 shares of the company's stock worth $1,973,983,000 after purchasing an additional 5,152,069 shares during the period. 76.07% of the stock is currently owned by institutional investors.

Merck & Co., Inc. News Summary

Here are the key news stories impacting Merck & Co., Inc. this week:

• Positive Sentiment: The FDA expanded approval for Merck’s Keytruda, in combination with Pfizer’s Padcev, for use in muscle-invasive bladder cancer regardless of cisplatin eligibility, potentially expanding the market opportunity for one of Merck’s most important cancer drugs. FDA Expands MRK & PFE's Keytruda-Padcev Combo Use in Bladder Cancer
• Positive Sentiment: JPMorgan, BMO Capital Markets, and Guggenheim all raised their price targets on Merck and maintained bullish ratings, signaling improved Wall Street confidence in MRK’s upside. Analyst price target updates
• Positive Sentiment: Commentary highlighting Merck as a bargain and the stock’s recent attention in the S&P 500 focus list may be adding to investor optimism around the shares. Merck (MRK) Stock Looks Like A Bargain At This Price
• Neutral Sentiment: There was also discussion of Merck’s Januvia/Janumet franchise as a benchmark in a generic drug partnership story, but this appears to be more contextual than a direct new catalyst for MRK today. Cosmos Health Accelerates Prescription Medicine Strategy...
• Negative Sentiment: Retail chatter continues to focus on Merck’s looming Keytruda patent cliff, which remains a longer-term risk even as near-term news flow is positive. SLS Vs MLTX: Retail Traders Race To Pick Merck’s Next Biotech Buyout...

Merck & Co., Inc. Price Performance

Shares of MRK opened at $123.93 on Tuesday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.06 and a current ratio of 1.30. The stock has a 50 day simple moving average of $119.12 and a 200 day simple moving average of $116.50. Merck & Co., Inc. has a 52-week low of $76.66 and a 52-week high of $130.29. The firm has a market capitalization of $306.09 billion, a PE ratio of 34.91, a P/E/G ratio of 2.65 and a beta of 0.19.

Merck & Co., Inc. (NYSE:MRK - Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported ($1.28) EPS for the quarter, topping the consensus estimate of ($1.47) by $0.19. Merck & Co., Inc. had a net margin of 13.59% and a return on equity of 27.55%. The firm had revenue of $16.29 billion for the quarter, compared to the consensus estimate of $15.85 billion. During the same period last year, the company posted $2.22 EPS. The business's quarterly revenue was up 4.9% on a year-over-year basis. Merck & Co., Inc. has set its FY 2026 guidance at 5.040-5.160 EPS. Sell-side analysts predict that Merck & Co., Inc. will post 5.17 EPS for the current fiscal year.

Merck & Co., Inc. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Monday, June 15th were paid a $0.85 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $3.40 dividend on an annualized basis and a yield of 2.7%. Merck & Co., Inc.'s dividend payout ratio is presently 95.77%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on MRK shares. JPMorgan Chase & Co. increased their price objective on Merck & Co., Inc. from $135.00 to $140.00 and gave the stock an "overweight" rating in a research note on Monday. Guggenheim boosted their target price on shares of Merck & Co., Inc. from $140.00 to $145.00 and gave the stock a "buy" rating in a research note on Monday. Cantor Fitzgerald reiterated a "neutral" rating and issued a $120.00 price objective on shares of Merck & Co., Inc. in a research report on Monday, July 6th. Wells Fargo & Company upped their target price on shares of Merck & Co., Inc. from $145.00 to $150.00 and gave the company an "overweight" rating in a research report on Wednesday, July 8th. Finally, Citigroup initiated coverage on Merck & Co., Inc. in a report on Wednesday, May 6th. They issued a "neutral" rating and a $125.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Merck & Co., Inc. currently has a consensus rating of "Moderate Buy" and an average price target of $133.94.

About Merck & Co., Inc.

Merck & Co, Inc is a global biopharmaceutical company engaged in the discovery, development, manufacture and marketing of prescription medicines, vaccines, biologic therapies and animal health products. Its portfolio spans multiple therapeutic areas with a particular emphasis on oncology, vaccines and infectious disease, as well as therapies for metabolic and chronic conditions. Among its well-known products are the cancer immunotherapy Keytruda (pembrolizumab) and the human papillomavirus vaccine Gardasil; the company also markets a range of medicines and vaccines for veterinary use through Merck Animal Health.

Founded in the late 19th century as the U.S.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.