Merck & Co., Inc. (NYSE:MRK) Price Target Cut to $112.00 by Analysts at Bank of America

Merck & Co., Inc. (NYSE:MRK) had its price objective reduced by investment analysts at Bank of America from $118.00 to $112.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price objective indicates a potential upside of 26.61% from the stock’s previous close.

MRK has been the topic of several other reports. Guggenheim lowered their target price on Merck & Co., Inc. from $137.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, November 6th. Citigroup dropped their price objective on shares of Merck & Co., Inc. from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday. Daiwa Capital Markets downgraded shares of Merck & Co., Inc. from a “buy” rating to a “neutral” rating in a research note on Monday, November 11th. UBS Group dropped their price target on shares of Merck & Co., Inc. from $125.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company reduced their price objective on shares of Merck & Co., Inc. from $125.00 to $110.00 and set an “equal weight” rating for the company in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, nine have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Merck & Co., Inc. presently has an average rating of “Moderate Buy” and a consensus target price of $120.33.

Merck & Co., Inc. Stock Performance

MRK traded down $2.28 during trading on Wednesday, hitting $88.46. 5,197,434 shares of the company traded hands, compared to its average volume of 12,506,948. The firm has a market cap of $223.78 billion, a P/E ratio of 18.58, a price-to-earnings-growth ratio of 1.20 and a beta of 0.38. 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. has a one year low of $87.33 and a one year high of $134.63. The stock’s fifty day moving average is $99.58 and its 200 day moving average is $107.12.

Merck & Co., Inc. (NYSE:MRK) last released its earnings results on Tuesday, February 4th. The company reported $1.72 earnings per share for the quarter, missing analysts’ consensus estimates of $1.85 by ($0.13). The company had revenue of $15.62 billion for the quarter, compared to the consensus estimate of $15.51 billion. Merck & Co., Inc. had a net margin of 19.23% and a return on equity of 36.42%. The firm’s revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.03 earnings per share. As a group, equities analysts predict that Merck & Co., Inc. will post 7.62 EPS for the current fiscal year.

Merck & Co., Inc. announced that its Board of Directors has authorized a share repurchase plan on Tuesday, January 28th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 4.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp grew its position in Merck & Co., Inc. by 29.7% in the fourth quarter. Bank of New York Mellon Corp now owns 24,213,537 shares of the company’s stock worth $2,408,763,000 after acquiring an additional 5,550,824 shares in the last quarter. Wellington Management Group LLP lifted its stake in Merck & Co., Inc. by 4.6% during the third quarter. Wellington Management Group LLP now owns 75,809,383 shares of the company’s stock worth $8,608,914,000 after purchasing an additional 3,327,404 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Merck & Co., Inc. by 11,876.3% in the 3rd quarter. International Assets Investment Management LLC now owns 2,971,554 shares of the company’s stock worth $337,450,000 after purchasing an additional 2,946,742 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Merck & Co., Inc. by 748.0% during the 4th quarter. Van ECK Associates Corp now owns 3,149,841 shares of the company’s stock valued at $313,346,000 after purchasing an additional 2,778,388 shares during the last quarter. Finally, Two Sigma Advisers LP raised its holdings in shares of Merck & Co., Inc. by 157.9% during the 3rd quarter. Two Sigma Advisers LP now owns 4,264,100 shares of the company’s stock valued at $484,231,000 after buying an additional 2,610,800 shares in the last quarter. Hedge funds and other institutional investors own 76.07% of the company’s stock.

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.