Merck & Co., Inc. (NYSE:MRK) Price Target Lowered to $90.00 at Wells Fargo & Company

Key Points

• Wells Fargo & Company has lowered its price target for Merck & Co., Inc. from $97.00 to $90.00, maintaining an "equal weight" rating on the stock, which suggests a potential upside of 7.95% from its current price.
• Research from multiple analysts shows a consensus rating of "Hold" for Merck, with a consensus target price of $107.44.
• Merck's latest financial report indicated a quarterly EPS of $2.13, beating expectations, but revenues fell short at $15.81 billion against a forecast of $15.92 billion.

Merck & Co., Inc. (NYSE:MRK - Get Free Report) had its target price cut by investment analysts at Wells Fargo & Company from $97.00 to $90.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Wells Fargo & Company's price objective would indicate a potential upside of 14.51% from the company's previous close.

Several other equities research analysts also recently issued reports on the stock. Wall Street Zen downgraded shares of Merck & Co., Inc. from a "strong-buy" rating to a "buy" rating in a research note on Friday, April 25th. Morgan Stanley dropped their price target on shares of Merck & Co., Inc. from $99.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 10th. Guggenheim reissued a "buy" rating and set a $115.00 price objective on shares of Merck & Co., Inc. in a report on Thursday, April 17th. Citigroup reissued a "neutral" rating and set a $84.00 price objective (down from $115.00) on shares of Merck & Co., Inc. in a report on Wednesday, May 14th. Finally, Cantor Fitzgerald lowered shares of Merck & Co., Inc. from an "overweight" rating to a "cautious" rating in a report on Tuesday, May 20th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Merck & Co., Inc. currently has an average rating of "Hold" and a consensus target price of $107.44.

Merck & Co., Inc. Trading Up 0.6%

Shares of MRK stock traded up $0.47 during mid-day trading on Wednesday, reaching $78.59. The company's stock had a trading volume of 3,322,633 shares, compared to its average volume of 15,824,137. The company's 50 day simple moving average is $80.37 and its 200-day simple moving average is $84.80. Merck & Co., Inc. has a 12-month low of $73.31 and a 12-month high of $120.30. The company has a quick ratio of 1.16, a current ratio of 1.41 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $197.35 billion, a PE ratio of 12.12, a price-to-earnings-growth ratio of 0.83 and a beta of 0.39.

Merck & Co., Inc. (NYSE:MRK - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $2.13 EPS for the quarter, beating analysts' consensus estimates of $2.03 by $0.10. Merck & Co., Inc. had a net margin of 25.79% and a return on equity of 41.63%. The business had revenue of $15.81 billion for the quarter, compared to the consensus estimate of $15.92 billion. On average, research analysts predict that Merck & Co., Inc. will post 9.01 EPS for the current fiscal year.

Institutional Trading of Merck & Co., Inc.

Hedge funds have recently modified their holdings of the company. Peoples Financial Services CORP. raised its holdings in Merck & Co., Inc. by 0.5% during the 2nd quarter. Peoples Financial Services CORP. now owns 22,778 shares of the company's stock worth $1,803,000 after buying an additional 122 shares during the period. McLean Asset Management Corp raised its holdings in shares of Merck & Co., Inc. by 3.7% in the second quarter. McLean Asset Management Corp now owns 3,543 shares of the company's stock valued at $292,000 after purchasing an additional 125 shares during the last quarter. Cora Capital Advisors LLC grew its stake in shares of Merck & Co., Inc. by 2.4% in the second quarter. Cora Capital Advisors LLC now owns 5,343 shares of the company's stock valued at $423,000 after buying an additional 125 shares in the last quarter. Foundation Wealth Management LLC PA grew its stake in shares of Merck & Co., Inc. by 2.4% in the first quarter. Foundation Wealth Management LLC PA now owns 5,361 shares of the company's stock valued at $481,000 after buying an additional 127 shares in the last quarter. Finally, Saiph Capital LLC increased its holdings in shares of Merck & Co., Inc. by 3.7% in the first quarter. Saiph Capital LLC now owns 3,565 shares of the company's stock valued at $320,000 after purchasing an additional 128 shares during the last quarter. 76.07% of the stock is currently owned by institutional investors and hedge funds.

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.