Merck & Co., Inc. (NYSE:MRK) Releases FY 2026 Earnings Guidance

Key Points

• FY 2026 guidance: Merck issued EPS guidance of $5.040–$5.160 and revenue guidance of $65.8B–$67.0B, which is roughly in line with consensus estimates (EPS ~5.07; revenue ~$66.5B).
• Q1 results beat revenue and consensus loss estimates with revenue of $16.29B (up 4.9% YoY), but GAAP showed a loss driven by a one‑time Cidara acquisition charge even as Keytruda and newer products fueled sales and management raised adjusted profit outlook.
• Insiders sold about 320,176 shares (~$38.3M) in the last 90 days (insiders now own 0.17%), while analysts' consensus remains a Moderate Buy with an average price target of $128.47.

Merck & Co., Inc. (NYSE:MRK - Get Free Report) issued an update on its FY 2026 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 5.040-5.160 for the period, compared to the consensus estimate of 5.070. The company issued revenue guidance of $65.8 billion-$67.0 billion, compared to the consensus revenue estimate of $66.5 billion.

Merck & Co., Inc. Trading Up 0.4%

Shares of NYSE MRK traded up $0.48 during midday trading on Thursday, reaching $111.43. 2,584,347 shares of the stock were exchanged, compared to its average volume of 11,201,830. The company has a market capitalization of $275.22 billion, a P/E ratio of 15.35, a P/E/G ratio of 2.23 and a beta of 0.26. Merck & Co., Inc. has a 52-week low of $73.31 and a 52-week high of $125.14. The company has a current ratio of 1.54, a quick ratio of 1.30 and a debt-to-equity ratio of 0.89. The stock has a 50 day moving average price of $117.94 and a 200-day moving average price of $107.38.

Merck & Co., Inc. (NYSE:MRK - Get Free Report) last released its earnings results on Thursday, April 30th. The company reported ($1.28) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.31) by $0.03. Merck & Co., Inc. had a net margin of 28.08% and a return on equity of 44.57%. The firm had revenue of $16.29 billion during the quarter, compared to the consensus estimate of $15.91 billion. During the same period in the previous year, the firm earned $2.22 earnings per share. Merck & Co., Inc.'s revenue was up 4.9% compared to the same quarter last year. Merck & Co., Inc. has set its FY 2026 guidance at 5.040-5.160 EPS. Equities research analysts expect that Merck & Co., Inc. will post 4.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

MRK has been the topic of several recent analyst reports. Barclays initiated coverage on shares of Merck & Co., Inc. in a report on Friday, February 20th. They set an "overweight" rating and a $140.00 target price on the stock. Cantor Fitzgerald increased their target price on shares of Merck & Co., Inc. from $116.00 to $120.00 and gave the stock a "neutral" rating in a report on Wednesday, February 4th. Wolfe Research raised shares of Merck & Co., Inc. from a "peer perform" rating to an "outperform" rating and set a $135.00 target price on the stock in a report on Thursday, January 8th. Wall Street Zen raised shares of Merck & Co., Inc. from a "hold" rating to a "buy" rating in a report on Saturday, March 28th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $142.00 price objective on shares of Merck & Co., Inc. in a report on Monday, March 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $128.47.

Insider Activity at Merck & Co., Inc.

In other Merck & Co., Inc. news, EVP Richard R. Deluca sold 37,685 shares of the company's stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $120.92, for a total transaction of $4,556,870.20. Following the completion of the sale, the executive vice president directly owned 160,174 shares of the company's stock, valued at approximately $19,368,240.08. This represents a 19.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jennifer Zachary sold 121,573 shares of the company's stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $119.15, for a total transaction of $14,485,422.95. Following the sale, the executive vice president directly owned 68,916 shares of the company's stock, valued at $8,211,341.40. This represents a 63.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 320,176 shares of company stock worth $38,281,735. Company insiders own 0.17% of the company's stock.

Key Headlines Impacting Merck & Co., Inc.

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

• Positive Sentiment: Q1 results beat revenue and consensus loss estimates; Keytruda and newer products drove sales growth and management raised adjusted profit outlook — this supports upside to near‑term fundamentals and investor confidence. Merck beats quarterly estimates on strength of Keytruda and new products, narrows outlook
• Positive Sentiment: Merck announced first patient dosed in two Phase 3 trials of enpatoran for lupus skin disease — a late‑stage clinical milestone that could add a new growth opportunity if successful. Merck Announces First Dose in Phase 3 Study with Enpatoran
• Positive Sentiment: Guggenheim reaffirmed a Buy rating on MRK — a third‑party vote of confidence that can support investor demand. Guggenheim Reaffirms Their Buy Rating on Merck & Company (MRK)
• Neutral Sentiment: Merck updated FY‑2026 guidance to EPS $5.040–5.160 and revenue $65.8B–$67.0B — roughly in line with consensus (EPS ~5.07; revenue ~66.5B), so guidance neither materially surprises to the upside nor signals major downside. Merck Announces First-Quarter 2026 Financial Results
• Neutral Sentiment: Some analysts (Erste Group) trimmed FY estimates marginally — small model adjustments that are unlikely to drive a large re‑rating by themselves. Erste Group cuts FY2026 EPS estimate
• Negative Sentiment: GAAP Q1 showed a loss because of an acquisition‑related (Cidara) charge, offsetting otherwise stronger product sales — the one‑time charge creates headline risk and can pressure near‑term stock reactions despite operating growth. Merck posts quarterly loss due to Cidara charge, sales rise 5%

Institutional Trading of Merck & Co., Inc.

Institutional investors have recently made changes to their positions in the stock. Brighton Jones LLC raised its position in Merck & Co., Inc. by 29.5% during the fourth quarter. Brighton Jones LLC now owns 38,278 shares of the company's stock valued at $3,808,000 after acquiring an additional 8,710 shares in the last quarter. Sivia Capital Partners LLC raised its position in Merck & Co., Inc. by 52.2% during the second quarter. Sivia Capital Partners LLC now owns 11,494 shares of the company's stock valued at $910,000 after acquiring an additional 3,941 shares in the last quarter. Semmax Financial Advisors Inc. raised its position in Merck & Co., Inc. by 32.9% during the second quarter. Semmax Financial Advisors Inc. now owns 1,596 shares of the company's stock valued at $129,000 after acquiring an additional 395 shares in the last quarter. Kemnay Advisory Services Inc. bought a new position in Merck & Co., Inc. during the fourth quarter valued at approximately $104,000. Finally, Wilkerson Advisory Group LLC bought a new position in Merck & Co., Inc. during the fourth quarter valued at approximately $88,000. 76.07% of the stock is currently owned by institutional investors and hedge funds.

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.

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