Merck & Co., Inc. $MRK Shares Acquired by Alta Advisers Ltd

Key Points

• Alta Advisers increased its Merck stake by 86.3% in the third quarter, adding 8,273 shares to hold 17,857 shares valued at about $2.6 million. Institutional investors collectively owned 76.07% of the stock.
• Merck executives sold a combined 135,635 shares worth about $18 million over the past three months; insiders owned 0.17% of the company’s stock.
• Merck beat quarterly earnings and revenue expectations, with revenue up 4.7% year over year, supported by higher Keytruda and Gardasil sales. Analysts’ average rating was “Moderate Buy,” though reports flagged competition and slowing demand as risks to continued growth.

Alta Advisers Ltd raised its position in Merck & Co., Inc. (NYSE:MRK - Free Report) by 86.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,857 shares of the company's stock after acquiring an additional 8,273 shares during the quarter. Alta Advisers Ltd's holdings in Merck & Co., Inc. were worth $2,595,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of MRK. Pine Haven Investment Counsel Inc lifted its stake in Merck & Co., Inc. by 1.4% in the third quarter. Pine Haven Investment Counsel Inc now owns 14,468 shares of the company's stock worth $2,102,000 after acquiring an additional 195 shares during the period. ACR Alpine Capital Research LLC boosted its holdings in Merck & Co., Inc. by 8.6% in the third quarter. ACR Alpine Capital Research LLC now owns 44,670 shares of the company's stock valued at $6,491,000 after acquiring an additional 3,524 shares in the last quarter. Ullmann Wealth Partners Group LLC increased its position in Merck & Co., Inc. by 4.1% during the 3rd quarter. Ullmann Wealth Partners Group LLC now owns 5,186 shares of the company's stock valued at $754,000 after purchasing an additional 204 shares during the period. Principle Wealth Partners LLC increased its position in Merck & Co., Inc. by 0.6% during the 3rd quarter. Principle Wealth Partners LLC now owns 80,264 shares of the company's stock valued at $11,663,000 after purchasing an additional 452 shares during the period. Finally, Kestra Advisory Services LLC raised its holdings in Merck & Co., Inc. by 4.6% in the 3rd quarter. Kestra Advisory Services LLC now owns 338,758 shares of the company's stock worth $49,225,000 after purchasing an additional 15,025 shares in the last quarter. 76.07% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Richard R. 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 transaction of $1,539,939.37. Following the completion of the transaction, the executive vice president directly owned 110,167 shares in the company, valued at $14,501,282.21. This trade represents a 9.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jennifer Zachary sold 80,315 shares of the firm's stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $133.46, for a total value of $10,718,839.90. Following the transaction, the executive vice president owned 45,509 shares of the company's stock, valued at $6,073,631.14. The trade was a 63.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 135,635 shares of company stock valued at $18,011,040. 0.17% of the stock is currently owned by corporate insiders.

Key Merck & Co., Inc. News

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

• Positive Sentiment: Argus initiated coverage with a “strong buy” rating. Other coverage also cited a Wall Street “moderate buy” consensus and bullish forecasts, including a Cantor Fitzgerald price-target increase; the reports provided no target details. Read More., Read More., Read More., Read More..
• Positive Sentiment: Keytruda and Gardasil sales increased in the third quarter, providing support for revenue growth. Read More..
• Neutral Sentiment: A Baron Capital investor letter characterized business development as supporting Merck’s next growth phase, but the supplied excerpt gives no specific deal or forecast details. Read More..
• Negative Sentiment: Growth durability remains a concern: the Zacks report flags inventory reversals, slowing demand and looming competition as potential challenges to Keytruda and Gardasil momentum. Read More..

Analysts Set New Price Targets

Several equities research analysts have recently commented on MRK shares. Argus started coverage on shares of Merck & Co., Inc. in a research report on Tuesday. They issued a "strong-buy" rating for the company. Freedom Broker boosted their price target on shares of Merck & Co., Inc. from $125.00 to $140.00 and gave the company a "hold" rating in a research report on Monday. Weiss Ratings raised Merck & Co., Inc. from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 25th. Wolfe Research upped their price target on Merck & Co., Inc. from $155.00 to $180.00 and gave the stock an "outperform" rating in a research note on Tuesday, August 25th. Finally, The Goldman Sachs Group increased their price objective on Merck & Co., Inc. from $140.00 to $160.00 and gave the stock a "buy" rating in a report on Friday, August 21st. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $155.74.

Merck & Co., Inc. Stock Performance

Shares of MRK opened at $146.76 on Friday. 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 business's 50 day moving average price is $146.45 and its 200-day moving average price is $127.45. Merck & Co., Inc. has a 52 week low of $84.35 and a 52 week high of $156.92. The stock has a market cap of $362.08 billion, a P/E ratio of 151.30, a P/E/G ratio of 6.83 and a beta of 0.13.

Merck & Co., Inc. (NYSE:MRK - Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The company reported $2.49 earnings per share for the quarter, topping the consensus estimate of $2.09 by $0.40. Merck & Co., Inc. had a return on equity of 16.56% and a net margin of 3.64%. The company had revenue of $18.09 billion for the quarter, compared to the consensus estimate of $17.33 billion. During the same quarter in the prior year, the business posted $2.58 EPS. The firm's quarterly revenue was up 4.7% compared to the same quarter last year. Equities research analysts anticipate that Merck & Co., Inc. will post 2.85 earnings per share for the current fiscal year.

About Merck & Co., Inc.

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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