Merck & Co., Inc. (NYSE:MRK) Shares Sold by Investment Management Corp of Ontario

Investment Management Corp of Ontario decreased its holdings in shares of Merck & Co., Inc. (NYSE:MRK - Free Report) by 28.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 120,214 shares of the company's stock after selling 47,839 shares during the period. Investment Management Corp of Ontario's holdings in Merck & Co., Inc. were worth $11,959,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Midwest Capital Advisors LLC purchased a new stake in Merck & Co., Inc. in the 4th quarter worth approximately $26,000. Financial Life Planners bought a new stake in shares of Merck & Co., Inc. during the fourth quarter valued at approximately $28,000. Noble Wealth Management PBC purchased a new stake in shares of Merck & Co., Inc. in the 4th quarter worth about $28,000. Halbert Hargrove Global Advisors LLC purchased a new stake in Merck & Co., Inc. in the fourth quarter worth about $28,000. Finally, Promus Capital LLC bought a new stake in shares of Merck & Co., Inc. in the 4th quarter worth approximately $30,000. 76.07% of the stock is currently owned by hedge funds and other institutional investors.

Merck & Co., Inc. Trading Down 3.4%

Shares of MRK traded down $2.75 during trading on Tuesday, reaching $77.68. 6,135,863 shares of the company traded hands, compared to its average volume of 16,124,953. 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 stock has a market cap of $195.05 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 0.77 and a beta of 0.43. Merck & Co., Inc. has a twelve month low of $75.82 and a twelve month high of $134.63. The stock has a 50-day simple moving average of $85.01 and a 200-day simple moving average of $92.97.

Merck & Co., Inc. (NYSE:MRK - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported $2.22 EPS for the quarter, beating the consensus estimate of $2.16 by $0.06. The company had revenue of $15.53 billion during the quarter, compared to analysts' expectations of $15.59 billion. Merck & Co., Inc. had a net margin of 26.67% and a return on equity of 45.35%. The firm's revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.07 EPS. On average, analysts anticipate that Merck & Co., Inc. will post 9.01 earnings per share for the current year.

Merck & Co., Inc. announced that its board has approved a share repurchase plan on Tuesday, January 28th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the company to buy up to 4.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In other news, SVP Dalton E. Smart III sold 4,262 shares of Merck & Co., Inc. stock in a transaction on Friday, April 25th. The shares were sold at an average price of $82.76, for a total value of $352,723.12. Following the transaction, the senior vice president now directly owns 7,778 shares of the company's stock, valued at $643,707.28. The trade was a 35.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.13% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on MRK shares. TD Cowen lowered Merck & Co., Inc. from a "buy" rating to a "hold" rating and decreased their target price for the stock from $121.00 to $100.00 in a research report on Monday, February 10th. Morgan Stanley dropped their target price on Merck & Co., Inc. from $113.00 to $106.00 and set an "equal weight" rating for the company in a report on Wednesday, February 5th. BMO Capital Markets cut their price target on shares of Merck & Co., Inc. from $105.00 to $96.00 and set a "market perform" rating on the stock in a report on Wednesday, February 5th. StockNews.com lowered Merck & Co., Inc. from a "strong-buy" rating to a "buy" rating in a research note on Friday, April 25th. Finally, Guggenheim reissued a "buy" rating and set a $115.00 price target on shares of Merck & Co., Inc. in a research report on Thursday, April 17th. Twelve investment analysts have rated the stock with a hold rating, eight have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $111.13.

About Merck & Co., Inc.

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.