Harvest Portfolios Group Inc. Increases Position in Merck & Co., Inc. $MRK

Harvest Portfolios Group Inc. increased its stake in shares of Merck & Co., Inc. (NYSE:MRK) by 9.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 688,301 shares of the company’s stock after buying an additional 59,877 shares during the quarter. Merck & Co., Inc. comprises about 1.3% of Harvest Portfolios Group Inc.’s holdings, making the stock its 29th largest position. Harvest Portfolios Group Inc.’s holdings in Merck & Co., Inc. were worth $54,486,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Legend Financial Advisors Inc. acquired a new position in shares of Merck & Co., Inc. in the second quarter valued at approximately $25,000. CBIZ Investment Advisory Services LLC grew its position in Merck & Co., Inc. by 141.7% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the company’s stock valued at $34,000 after buying an additional 221 shares during the last quarter. Mountain Hill Investment Partners Corp. acquired a new position in Merck & Co., Inc. in the 2nd quarter valued at $43,000. Advantage Trust Co increased its stake in Merck & Co., Inc. by 57.1% in the 2nd quarter. Advantage Trust Co now owns 550 shares of the company’s stock valued at $44,000 after buying an additional 200 shares during the period. Finally, Chung Wu Investment Group LLC purchased a new position in Merck & Co., Inc. during the 2nd quarter worth $45,000. 76.07% of the stock is owned by hedge funds and other institutional investors.

Merck & Co., Inc. Stock Up 1.8%

Merck & Co., Inc. stock opened at $85.90 on Friday. Merck & Co., Inc. has a fifty-two week low of $73.31 and a fifty-two week high of $105.07. The firm has a market capitalization of $214.56 billion, a price-to-earnings ratio of 13.24, a price-to-earnings-growth ratio of 0.95 and a beta of 0.34. The stock’s fifty day moving average is $84.55 and its two-hundred day moving average is $81.98. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.17 and a current ratio of 1.42.

Merck & Co., Inc. (NYSE:MRK) last released its quarterly earnings data on Thursday, October 30th. The company reported $2.58 EPS for the quarter, topping the consensus estimate of $2.36 by $0.22. The business had revenue of $17.28 billion for the quarter, compared to analyst estimates of $17 billion. Merck & Co., Inc. had a net margin of 25.79% and a return on equity of 41.05%. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.57 EPS. Merck & Co., Inc. has set its FY 2025 guidance at 8.930-8.980 EPS. Analysts predict that Merck & Co., Inc. will post 9.01 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Berenberg Bank downgraded shares of Merck & Co., Inc. from a “buy” rating to a “hold” rating and lowered their target price for the company from $100.00 to $90.00 in a report on Wednesday, September 17th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Merck & Co., Inc. in a report on Wednesday, October 8th. Morgan Stanley boosted their target price on Merck & Co., Inc. from $98.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Monday. Citigroup initiated coverage on Merck & Co., Inc. in a report on Monday, October 13th. They issued a “neutral” rating and a $95.00 price target for the company. Finally, Wells Fargo & Company decreased their price target on Merck & Co., Inc. from $97.00 to $90.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Merck & Co., Inc. has an average rating of “Hold” and an average target price of $104.47.

Insider Activity

In other news, EVP David Michael Williams sold 8,614 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $83.59, for a total value of $720,044.26. Following the sale, the executive vice president directly owned 24,578 shares in the company, valued at $2,054,475.02. This represents a 25.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.13% of the stock is owned by company insiders.

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.