Merck & Co., Inc. $MRK Stock: Letko Brosseau & Associates Inc. Cuts Stake

Letko Brosseau & Associates Inc. reduced its stake in shares of Merck & Co., Inc. (NYSE:MRK) by 1.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 343,632 shares of the company’s stock after selling 3,857 shares during the quarter. Letko Brosseau & Associates Inc.’s holdings in Merck & Co., Inc. were worth $49,933,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of MRK. Vestor Capital LLC lifted its stake in Merck & Co., Inc. by 16,530.7% during the third quarter. Vestor Capital LLC now owns 27,607 shares of the company’s stock worth $4,012,000 after purchasing an additional 27,441 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Merck & Co., Inc. in the 2nd quarter valued at $11,470,000. Russell Investments Group Ltd. increased its stake in shares of Merck & Co., Inc. by 2.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 2,578,024 shares of the company’s stock valued at $331,931,000 after purchasing an additional 51,393 shares during the last quarter. Cardinal Capital Management increased its stake in shares of Merck & Co., Inc. by 3.6% in the 3rd quarter. Cardinal Capital Management now owns 99,742 shares of the company’s stock valued at $14,578,000 after purchasing an additional 3,507 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Merck & Co., Inc. by 12.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,073,176 shares of the company’s stock worth $266,403,000 after buying an additional 227,589 shares in the last quarter. Institutional investors own 76.07% of the company’s stock.

Key Merck & Co., Inc. News

Here’s some of the latest news about MRK:

• Positive Sentiment: Merck and Moderna plan to file their personalized cancer vaccine, intismeran, with Keytruda this year. The combination reduced the risk of melanoma recurrence or death by 42%, a potentially important growth opportunity if supported by upcoming data and regulatory review. Article: Merck’s Keytruda Combo Cut Melanoma Recurrence or Death Risk 42%. What the February 2 Report Has to Prove
• Positive Sentiment: Phase 2b results for efinopegdutide showed statistically significant MASH resolution without worsening fibrosis. The data add to investor optimism about Merck’s pipeline beyond Keytruda. Article: Merck (MRK) Could Be 7% Undervalued As MASH Trial Data Lifts Optimism
• Negative Sentiment: Potential U.S. drug-price negotiations are a longer-term risk for Merck, with the article describing the company as facing a bigger test in coming years. Article: EXCLUSIVE: Lilly, Gilead Face Near-Term Drug Pricing Risks As Washington Turns Up Heat

Analysts Set New Price Targets

Several brokerages recently weighed in on MRK. JPMorgan Chase & Co. upped their price objective on Merck & Co., Inc. from $165.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, October 30th. Weiss Ratings raised Merck & Co., Inc. from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 25th. DZ Bank cut Merck & Co., Inc. from a “buy” rating to a “hold” rating and set a $153.00 target price on the stock. in a research report on Tuesday, November 3rd. Leerink Partners boosted their target price on Merck & Co., Inc. from $127.00 to $161.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 9th. Finally, The Goldman Sachs Group boosted their target price on Merck & Co., Inc. from $140.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, August 21st. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $155.74.

Merck & Co., Inc. Stock Down 0.1%

Shares of MRK opened at $146.98 on Friday. Merck & Co., Inc. has a 52 week low of $90.90 and a 52 week high of $156.92. The stock has a market capitalization of $362.34 billion, a price-to-earnings ratio of 151.52, a PEG ratio of 6.75 and a beta of 0.13. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.14 and a current ratio of 1.35. The stock has a fifty day moving average of $146.25 and a 200-day moving average of $128.41.

Merck & Co., Inc. (NYSE:MRK) last released its quarterly earnings data on Thursday, October 29th. The company reported $2.49 earnings per share for the quarter, beating the consensus estimate of $2.09 by $0.40. The company had revenue of $18.09 billion for the quarter, compared to the consensus estimate of $17.33 billion. Merck & Co., Inc. had a return on equity of 16.73% and a net margin of 3.64%. Merck & Co., Inc.’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $2.58 EPS. As a group, sell-side analysts anticipate that Merck & Co., Inc. will post 2.82 earnings per share for the current fiscal year.

Merck & Co., Inc. Company Profile

Merck & Co., Inc. is a global pharmaceutical company that develops and markets prescription medicines, vaccines, biologic therapies and animal-health products. The company’s research and commercial activities span areas including oncology, infectious diseases, vaccines, cardiovascular disease and immunology. Its products include the cancer medicine Keytruda and the Gardasil vaccine. Founded in the United States in 1891, Merck & Co. became an independent company in 1917. It is headquartered in Rahway, New Jersey, and operates internationally.