Merck & Co., Inc. (NYSE:MRK) Stock Price Down 0.1% – Here’s What Happened

Merck & Co., Inc. (NYSE:MRK)’s share price fell 0.1% on Thursday . The company traded as low as $87.52 and last traded at $87.98. 1,819,490 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 10,281,959 shares. The stock had previously closed at $88.11.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. HSBC raised Merck & Co., Inc. from a “hold” rating to a “buy” rating and set a $130.00 price target for the company in a research report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft cut Merck & Co., Inc. from a “buy” rating to a “hold” rating and decreased their price target for the stock from $128.00 to $105.00 in a report on Tuesday, February 18th. Guggenheim lowered their price objective on shares of Merck & Co., Inc. from $122.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, February 12th. BMO Capital Markets reduced their target price on shares of Merck & Co., Inc. from $105.00 to $96.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 5th. Finally, Morgan Stanley lowered their price target on shares of Merck & Co., Inc. from $113.00 to $106.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Eleven investment analysts have rated the stock with a hold rating, nine have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $117.12.

Merck & Co., Inc. Stock Performance

The company has a 50-day moving average of $91.92 and a 200-day moving average of $100.21. The firm has a market capitalization of $225.27 billion, a price-to-earnings ratio of 13.25, a price-to-earnings-growth ratio of 0.77 and a beta of 0.35. The company has a current ratio of 1.36, a quick ratio of 1.15 and a debt-to-equity ratio of 0.79.

Merck & Co., Inc. (NYSE:MRK) last issued 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). Merck & Co., Inc. had a return on equity of 45.35% and a net margin of 26.67%. The business had revenue of $15.62 billion for the quarter, compared to analyst estimates of $15.51 billion. During the same period last year, the company posted $0.03 earnings per share. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, equities research analysts forecast that Merck & Co., Inc. will post 9.01 earnings per share for the current fiscal year.

Merck & Co., Inc. Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Monday, March 17th will be paid a $0.81 dividend. The ex-dividend date is Monday, March 17th. This represents a $3.24 dividend on an annualized basis and a yield of 3.63%. Merck & Co., Inc.’s payout ratio is currently 48.14%.

Merck & Co., Inc. announced that its Board of Directors has authorized a share repurchase program on Tuesday, January 28th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 4.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

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 sale, the insider now owns 7,085 shares of the company’s stock, valued at $628,864.60. This trade represents a 24.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Inge G. Thulin bought 2,833 shares of Merck & Co., Inc. stock in a transaction on Thursday, February 6th. The shares were purchased at an average cost of $88.25 per share, with a total value of $250,012.25. Following the completion of the purchase, the director now directly owns 2,933 shares in the company, valued at $258,837.25. This trade represents a 2,833.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company’s stock.

Institutional Trading of Merck & Co., Inc.

Several large investors have recently added to or reduced their stakes in MRK. Midwest Capital Advisors LLC acquired a new position in shares of Merck & Co., Inc. during the fourth quarter valued at $26,000. Financial Life Planners bought a new position in Merck & Co., Inc. in the 4th quarter valued at about $28,000. Noble Wealth Management PBC acquired a new position in Merck & Co., Inc. during the 4th quarter valued at about $28,000. Halbert Hargrove Global Advisors LLC bought a new stake in shares of Merck & Co., Inc. during the 4th quarter worth about $28,000. Finally, Safe Harbor Fiduciary LLC acquired a new stake in shares of Merck & Co., Inc. in the 3rd quarter worth approximately $34,000. 76.07% of the stock is currently owned by institutional investors and hedge funds.

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.