Bay Harbor Wealth Management LLC Cuts Stake in Merck & Co., Inc. (NYSE:MRK)

Bay Harbor Wealth Management LLC cut its position in Merck & Co., Inc. (NYSE:MRK) by 12.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,436 shares of the company’s stock after selling 354 shares during the period. Bay Harbor Wealth Management LLC’s holdings in Merck & Co., Inc. were worth $202,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the business. BlackRock Inc. increased its position in shares of Merck & Co., Inc. by 0.6% in the 2nd quarter. BlackRock Inc. now owns 197,558,293 shares of the company’s stock valued at $15,277,182,000 after purchasing an additional 1,212,965 shares during the last quarter. State Street Corp increased its position in shares of Merck & Co., Inc. by 0.7% in the 1st quarter. State Street Corp now owns 117,343,358 shares of the company’s stock valued at $9,098,570,000 after purchasing an additional 849,474 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Merck & Co., Inc. by 89.9% in the 2nd quarter. Nordea Investment Management AB now owns 18,381,614 shares of the company’s stock valued at $1,404,356,000 after purchasing an additional 8,699,890 shares during the last quarter. FMR LLC increased its position in shares of Merck & Co., Inc. by 0.3% in the 2nd quarter. FMR LLC now owns 12,957,653 shares of the company’s stock valued at $1,002,015,000 after purchasing an additional 41,706 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Merck & Co., Inc. by 7.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 12,598,490 shares of the company’s stock valued at $974,241,000 after purchasing an additional 892,849 shares during the last quarter. 73.18% of the stock is currently owned by institutional investors.

In other Merck & Co., Inc. news, insider Sanat Chattopadhyay sold 10,380 shares of the firm’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $83.01, for a total transaction of $861,643.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert M. Davis sold 251,273 shares of the firm’s stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $81.03, for a total transaction of $20,360,651.19. Following the transaction, the chief financial officer now owns 422,329 shares of the company’s stock, valued at $34,221,318.87. The disclosure for this sale can be found here. Insiders have sold a total of 280,529 shares of company stock valued at $22,761,633 over the last 90 days. 0.28% of the stock is currently owned by insiders.

Several brokerages have recently issued reports on MRK. JPMorgan Chase & Co. upped their target price on shares of Merck & Co., Inc. from $98.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, October 16th. Berenberg Bank began coverage on shares of Merck & Co., Inc. in a report on Tuesday, September 29th. They issued a “hold” rating and a $88.00 target price for the company. ValuEngine cut shares of Merck & Co., Inc. from a “hold” rating to a “sell” rating in a report on Thursday, October 1st. Royal Bank of Canada restated a “hold” rating on shares of Merck & Co., Inc. in a report on Tuesday, August 4th. Finally, Mizuho restated a “buy” rating on shares of Merck & Co., Inc. in a report on Tuesday, September 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $95.36.

Shares of MRK opened at $75.89 on Friday. The company has a 50-day simple moving average of $81.61 and a 200-day simple moving average of $80.50. The company has a quick ratio of 1.05, a current ratio of 1.32 and a debt-to-equity ratio of 0.94. The company has a market capitalization of $191.94 billion, a PE ratio of 18.51, a P/E/G ratio of 1.98 and a beta of 0.43. Merck & Co., Inc. has a 52-week low of $65.25 and a 52-week high of $92.64.

Merck & Co., Inc. (NYSE:MRK) last posted its earnings results on Tuesday, October 27th. The company reported $1.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.30. Merck & Co., Inc. had a net margin of 22.20% and a return on equity of 52.94%. The firm had revenue of $12.55 billion during the quarter, compared to the consensus estimate of $12.21 billion. During the same period last year, the firm posted $1.51 EPS. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, research analysts anticipate that Merck & Co., Inc. will post 5.7 EPS for the current year.

Merck & Co., Inc. Company Profile

Merck & Co, Inc provides healthcare solutions worldwide. It operates through four segments: Pharmaceutical, Animal Health, Healthcare Services, and Alliances. The company offers therapeutic and preventive agents to treat cardiovascular, type 2 diabetes, chronic hepatitis C virus, HIV-1 infection, intra-abdominal, fungal infection, insomnia, and inflammatory diseases.

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Institutional Ownership by Quarter for Merck & Co., Inc. (NYSE:MRK)

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