Westpac Banking Corp Acquires 3,253 Shares of Merck & Co., Inc. $MRK

Westpac Banking Corp lifted its holdings in Merck & Co., Inc. (NYSE:MRK) by 2.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 120,576 shares of the company’s stock after purchasing an additional 3,253 shares during the quarter. Merck & Co., Inc. accounts for about 0.6% of Westpac Banking Corp’s investment portfolio, making the stock its 29th biggest holding. Westpac Banking Corp’s holdings in Merck & Co., Inc. were worth $9,545,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of MRK. Legend Financial Advisors Inc. bought a new position in Merck & Co., Inc. in the second quarter valued at about $25,000. CBIZ Investment Advisory Services LLC increased its position in shares of Merck & Co., Inc. by 141.7% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 377 shares of the company’s stock valued at $34,000 after purchasing an additional 221 shares during the last quarter. Fiduciary Wealth Partners LLC bought a new position in shares of Merck & Co., Inc. in the 1st quarter worth approximately $48,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of Merck & Co., Inc. in the first quarter worth approximately $48,000. Finally, Mountain Hill Investment Partners Corp. purchased a new position in shares of Merck & Co., Inc. in the second quarter worth approximately $43,000. 76.07% of the stock is owned by hedge funds and other institutional investors.

Merck & Co., Inc. Stock Performance

NYSE MRK opened at $93.00 on Friday. The company has a quick ratio of 1.17, a current ratio of 1.42 and a debt-to-equity ratio of 0.69. Merck & Co., Inc. has a twelve month low of $73.31 and a twelve month high of $105.07. The business has a 50-day moving average price of $85.25 and a 200-day moving average price of $82.38. The firm has a market cap of $230.82 billion, a price-to-earnings ratio of 14.33, a price-to-earnings-growth ratio of 0.95 and a beta of 0.34.

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

Insider Activity at Merck & Co., Inc.

In other news, EVP David Michael Williams sold 8,614 shares of Merck & Co., Inc. stock in a transaction dated Monday, November 3rd. The stock was 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 of the company’s stock, valued at approximately $2,054,475.02. The trade was a 25.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Morgan Stanley upped their target price on shares of Merck & Co., Inc. from $98.00 to $100.00 and gave the company an “equal weight” rating in a report on Monday, November 3rd. Wall Street Zen upgraded Merck & Co., Inc. from a “hold” rating to a “strong-buy” rating in a research note on Saturday, November 8th. Wells Fargo & Company lowered their target price on Merck & Co., Inc. from $97.00 to $90.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 30th. Scotiabank began coverage on Merck & Co., Inc. in a research report on Thursday. They issued a “sector outperform” rating and a $105.00 price target for the company. Finally, Berenberg Bank cut Merck & Co., Inc. from a “buy” rating to a “hold” rating and lowered their price objective for the company from $100.00 to $90.00 in a research report on Wednesday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $104.50.

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.