Merck KGaA (OTCMKTS:MKGAF) Stock Jumps 6% – Here’s Why

Shares of Merck KGaA (OTCMKTS:MKGAF) shot up 6% during mid-day trading on Friday. The company traded as high as $165.6890 and last traded at $165.6890. Approximately 23 shares were traded during trading, a decline of 96% from the average session volume of 643 shares. The stock had previously closed at $156.2470.

Merck KGaA Trading Up 6.6%

The company has a market capitalization of $21.52 billion, a P/E ratio of 25.42 and a beta of 0.96. The business has a fifty day moving average price of $159.73 and a 200 day moving average price of $153.45. The company has a quick ratio of 0.84, a current ratio of 1.31 and a debt-to-equity ratio of 0.27.

Hedge Funds Weigh In On Merck KGaA

Several hedge funds have recently made changes to their positions in MKGAF. MASTERINVEST Kapitalanlage GmbH acquired a new stake in shares of Merck KGaA in the second quarter valued at approximately $4,896,000. Puzo Michael J acquired a new position in Merck KGaA during the second quarter worth $2,230,000. Somerville Kurt F acquired a new position in Merck KGaA during the second quarter worth $1,997,000. Pinnacle Holdings LLC bought a new position in Merck KGaA in the second quarter valued at $1,487,000. Finally, North Star Asset Management Inc. bought a new position in Merck KGaA in the second quarter valued at $1,411,000. 0.10% of the stock is owned by institutional investors.

Merck KGaA Company Profile

Merck KGaA is a Germany-based science and technology company headquartered in Darmstadt. Founded in 1668, it is one of the world’s oldest operating pharmaceutical and chemical companies. Merck KGaA is separate from the U.S.-based Merck & Co, Inc, although the two companies share historical roots.

The company operates through three business sectors: Life Science, Healthcare and Electronics. Its Life Science business supplies laboratory products, research tools, chemicals and bioprocessing technologies used by pharmaceutical, biotechnology and academic customers.