Merck & Co., Inc. (NYSE:MRK) Stock Price Up 0.9% - Here's Why

Merck & Co., Inc. (NYSE:MRK - Get Free Report)'s stock price rose 0.9% during trading on Monday . The stock traded as high as $83.61 and last traded at $83.51. Approximately 3,158,685 shares changed hands during trading, a decline of 73% from the average daily volume of 11,874,962 shares. The stock had previously closed at $82.74.

Analyst Upgrades and Downgrades

MRK has been the subject of several research analyst reports. Morgan Stanley dropped their price target on Merck & Co., Inc. from $113.00 to $106.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft downgraded Merck & Co., Inc. from a "buy" rating to a "hold" rating and dropped their target price for the company from $128.00 to $105.00 in a report on Tuesday, February 18th. BMO Capital Markets decreased their price target on Merck & Co., Inc. from $105.00 to $96.00 and set a "market perform" rating for the company in a report on Wednesday, February 5th. Truist Financial reiterated a "hold" rating and set a $110.00 price objective (down previously from $130.00) on shares of Merck & Co., Inc. in a research note on Wednesday, January 8th. Finally, Guggenheim reissued a "buy" rating and set a $115.00 target price on shares of Merck & Co., Inc. in a research report on Thursday, April 17th. Twelve 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's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $111.13.

Merck & Co., Inc. Stock Up 0.6 %

The firm's 50-day moving average price is $86.86 and its 200 day moving average price is $94.70. The firm has a market cap of $214.93 billion, a P/E ratio of 12.66, a price-to-earnings-growth ratio of 0.77 and a beta of 0.40. The company has a quick ratio of 1.15, a current ratio of 1.36 and a debt-to-equity ratio of 0.79.

Merck & Co., Inc. (NYSE:MRK - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $2.22 EPS for the quarter, topping the consensus estimate of $2.16 by $0.06. The business had revenue of $15.53 billion during the quarter, compared to analyst estimates of $15.59 billion. Merck & Co., Inc. had a net margin of 26.67% and a return on equity of 45.35%. The company's quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.07 earnings per share. As a group, research analysts expect that Merck & Co., Inc. will post 9.01 earnings per share for the current year.

Merck & Co., Inc. declared that its Board of Directors has initiated a share buyback plan on Tuesday, January 28th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 4.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Insider Activity at Merck & Co., Inc.

In related news, insider Cristal N. Downing sold 2,361 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $88.76, for a total value of $209,562.36. Following the completion of the transaction, the insider now owns 7,085 shares in the company, valued at $628,864.60. This represents a 24.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Dalton E. Smart III sold 4,262 shares of the stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $82.76, for a total transaction of $352,723.12. Following the completion of the transaction, the senior vice president now owns 7,778 shares of the company's stock, valued at $643,707.28. This represents a 35.40 % decrease in their position. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Merck & Co., Inc.

Several large investors have recently made changes to their positions in the business. Genus Capital Management Inc. boosted its position in shares of Merck & Co., Inc. by 186.2% during the 1st quarter. Genus Capital Management Inc. now owns 3,859 shares of the company's stock valued at $346,000 after purchasing an additional 8,338 shares in the last quarter. Processus Wealth & Capital Management LLC grew its holdings in shares of Merck & Co., Inc. by 2.1% during the 1st quarter. Processus Wealth & Capital Management LLC now owns 15,322 shares of the company's stock valued at $1,375,000 after acquiring an additional 314 shares in the last quarter. MJP Associates Inc. ADV grew its holdings in shares of Merck & Co., Inc. by 5.5% during the 1st quarter. MJP Associates Inc. ADV now owns 19,661 shares of the company's stock valued at $1,765,000 after acquiring an additional 1,026 shares in the last quarter. Cerity Partners LLC grew its holdings in shares of Merck & Co., Inc. by 11.9% during the 1st quarter. Cerity Partners LLC now owns 1,985,822 shares of the company's stock valued at $178,279,000 after acquiring an additional 211,541 shares in the last quarter. Finally, Financial Gravity Asset Management Inc. purchased a new position in shares of Merck & Co., Inc. during the 1st quarter valued at $114,000. Institutional investors own 76.07% of the company's stock.

Merck & Co., Inc. Company Profile

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.