Point72 Europe London LLP Makes New Investment in Merck & Co., Inc. (NYSE:MRK)

Point72 Europe London LLP bought a new position in Merck & Co., Inc. (NYSE:MRK) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 11,768 shares of the company’s stock, valued at approximately $1,171,000.

Other hedge funds have also added to or reduced their stakes in the company. Midwest Capital Advisors LLC acquired a new stake in Merck & Co., Inc. in the fourth quarter worth $26,000. Financial Life Planners acquired a new stake in Merck & Co., Inc. in the fourth quarter worth $28,000. Noble Wealth Management PBC acquired a new stake in Merck & Co., Inc. in the fourth quarter worth $28,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Merck & Co., Inc. in the fourth quarter worth $28,000. Finally, Promus Capital LLC bought a new position in Merck & Co., Inc. in the fourth quarter worth approximately $30,000. 76.07% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Dalton E. Smart III sold 4,262 shares of the stock in a transaction that occurred on 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 directly owns 7,778 shares of the company’s stock, valued at $643,707.28. This represents a 35.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.13% of the company’s stock.

Merck & Co., Inc. Price Performance

Merck & Co., Inc. stock opened at $74.68 on Friday. Merck & Co., Inc. has a 52 week low of $73.31 and a 52 week high of $134.63. The stock has a market cap of $187.52 billion, a P/E ratio of 11.10, a P/E/G ratio of 0.77 and a beta of 0.43. The company’s 50 day moving average price is $83.83 and its two-hundred day moving average price is $92.51. 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) last announced its earnings results on Thursday, April 24th. The company reported $2.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.06. Merck & Co., Inc. had a return on equity of 45.35% and a net margin of 26.67%. The firm had revenue of $15.53 billion during the quarter, compared to analyst estimates of $15.59 billion. During the same period last year, the firm posted $2.07 EPS. The business’s revenue was down 1.6% compared to the same quarter last year. On average, equities analysts predict 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 approved a share repurchase plan on Tuesday, January 28th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 4.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages have issued reports on MRK. TD Cowen lowered Merck & Co., Inc. from a “buy” rating to a “hold” rating and cut their price target for the stock from $121.00 to $100.00 in a report on Monday, February 10th. Guggenheim reiterated a “buy” rating and issued a $115.00 price target on shares of Merck & Co., Inc. in a report on Thursday, April 17th. Citigroup restated a “neutral” rating and set a $84.00 price objective (down previously from $115.00) on shares of Merck & Co., Inc. in a report on Wednesday. Cantor Fitzgerald started coverage on shares of Merck & Co., Inc. in a report on Tuesday, April 22nd. They set a “neutral” rating and a $85.00 price objective on the stock. Finally, TD Securities downgraded shares of Merck & Co., Inc. from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $121.00 to $100.00 in a report on Monday, February 10th. Thirteen equities research analysts have rated the stock with a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $109.19.

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.