Legacy Capital Group California Inc. Lowers Stock Position in Merck & Co., Inc. (NYSE:MRK)

Legacy Capital Group California Inc. cut its holdings in Merck & Co., Inc. (NYSE:MRK) by 2.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,538 shares of the company’s stock after selling 474 shares during the quarter. Merck & Co., Inc. makes up about 0.8% of Legacy Capital Group California Inc.’s holdings, making the stock its 15th biggest holding. Legacy Capital Group California Inc.’s holdings in Merck & Co., Inc. were worth $2,446,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of MRK. Industrial Alliance Investment Management Inc. increased its stake in Merck & Co., Inc. by 2.6% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 3,193 shares of the company’s stock worth $421,000 after buying an additional 80 shares during the period. IRON Financial LLC grew its stake in Merck & Co., Inc. by 4.6% during the 2nd quarter. IRON Financial LLC now owns 1,811 shares of the company’s stock valued at $224,000 after purchasing an additional 80 shares in the last quarter. Argent Capital Management LLC increased its holdings in Merck & Co., Inc. by 0.8% during the 2nd quarter. Argent Capital Management LLC now owns 10,521 shares of the company’s stock worth $1,302,000 after purchasing an additional 81 shares during the last quarter. Forza Wealth Management LLC boosted its stake in shares of Merck & Co., Inc. by 0.8% during the 2nd quarter. Forza Wealth Management LLC now owns 10,480 shares of the company’s stock valued at $1,297,000 after buying an additional 82 shares during the last quarter. Finally, Vista Investment Partners LLC raised its holdings in Merck & Co., Inc. by 2.0% in the second quarter. Vista Investment Partners LLC now owns 4,164 shares of the company’s stock valued at $516,000 after acquiring an additional 82 shares in the last quarter. Hedge funds and other institutional investors own 76.07% of the company’s stock.

Merck & Co., Inc. Price Performance

MRK opened at $105.88 on Friday. The firm has a market capitalization of $268.17 billion, a P/E ratio of 19.64, a PEG ratio of 1.52 and a beta of 0.39. The stock has a fifty day moving average of $113.86 and a 200-day moving average of $121.93. The company has a quick ratio of 1.22, a current ratio of 1.47 and a debt-to-equity ratio of 0.80. Merck & Co., Inc. has a 12-month low of $99.80 and a 12-month high of $134.63.

Merck & Co., Inc. (NYSE:MRK) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $2.28 EPS for the quarter, topping the consensus estimate of $2.16 by $0.12. Merck & Co., Inc. had a net margin of 21.99% and a return on equity of 40.69%. The business had revenue of $16.10 billion during the quarter, compared to analysts’ expectations of $15.87 billion. During the same period last year, the company posted ($2.06) earnings per share. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. Equities analysts forecast that Merck & Co., Inc. will post 7.8 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on MRK shares. Sanford C. Bernstein assumed coverage on Merck & Co., Inc. in a report on Thursday, October 17th. They issued a “market perform” rating and a $115.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $155.00 price target on shares of Merck & Co., Inc. in a report on Thursday, October 3rd. Wolfe Research raised Merck & Co., Inc. to a “strong-buy” rating in a report on Wednesday, July 31st. Barclays cut their target price on Merck & Co., Inc. from $142.00 to $140.00 and set an “overweight” rating on the stock in a research note on Monday, October 7th. Finally, Bank of America reduced their target price on shares of Merck & Co., Inc. from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $131.62.

Merck & Co., Inc. Company Profile

Merck & Co, Inc operates as a healthcare company worldwide. It operates through two segments, Pharmaceutical and Animal Health. The Pharmaceutical segment offers human health pharmaceutical products in the areas of oncology, hospital acute care, immunology, neuroscience, virology, cardiovascular, and diabetes under the Keytruda, Bridion, Adempas, Lagevrio, Belsomra, Simponi, and Januvia brands, as well as vaccine products consisting of preventive pediatric, adolescent, and adult vaccines under the Gardasil/Gardasil 9, ProQuad, M-M-R II, Varivax, RotaTeq, Live Oral, Vaxneuvance, Pneumovax 23, and Vaqta names.