Highland Capital Management Lowers stake in Merck & Co. (MRK)

Merck & Co. (MRK) : Highland Capital Management reduced its stake in Merck & Co. by 7.9% during the most recent quarter end. The investment management company now holds a total of 598,227 shares of Merck & Co. which is valued at $33,584,464 after selling 51,309 shares in Merck & Co. , the firm said in a disclosure report filed with the SEC on Apr 15, 2016.Merck & Co. makes up approximately 2.84% of Highland Capital Management’s portfolio.

Merck & Co. opened for trading at $56.34 and hit $57.03 on the upside on Wednesday, eventually ending the session at $56.6, with a gain of 0.04% or 0.02 points. The heightened volatility saw the trading volume jump to 1,05,35,254 shares. Company has a market cap of $157,080 M.

Other Hedge Funds, Including , Horizon Kinetics boosted its stake in MRK in the latest quarter, The investment management firm added 2,466 additional shares and now holds a total of 45,497 shares of Merck & Co. which is valued at $2,554,202. Merck & Co. makes up approx 0.07% of Horizon Kinetics’s portfolio.Creative Planning boosted its stake in MRK in the latest quarter, The investment management firm added 4,288 additional shares and now holds a total of 287,142 shares of Merck & Co. which is valued at $15,807,167. Merck & Co. makes up approx 0.12% of Creative Planning’s portfolio.Partnerre Asset Management Corp reduced its stake in MRK by selling 100 shares or 0.53% in the most recent quarter. The Hedge Fund company now holds 18,776 shares of MRK which is valued at $1,033,619. Merck & Co. makes up approx 0.55% of Partnerre Asset Management Corp’s portfolio.West Oak Capital boosted its stake in MRK in the latest quarter, The investment management firm added 600 additional shares and now holds a total of 8,950 shares of Merck & Co. which is valued at $492,698. Merck & Co. makes up approx 0.38% of West Oak Capital’s portfolio.Stock Yards Bank Trust Co boosted its stake in MRK in the latest quarter, The investment management firm added 391 additional shares and now holds a total of 53,225 shares of Merck & Co. which is valued at $2,930,036. Merck & Co. makes up approx 0.42% of Stock Yards Bank Trust Co’s portfolio.

On the company’s financial health, Merck & Co. reported $0.93 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Feb 3, 2016. Analyst had a consensus of $0.91. The company had revenue of $10215.00 million for the quarter, compared to analysts expectations of $10355.20 million. The company’s revenue was down -2.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.87 EPS.

Many Wall Street Analysts have commented on Merck & Co.. Societe Generale Initiated Merck & Co. on Apr 6, 2016 to “Buy”, Price Target of the shares are set at $80.Merck & Co. was Downgraded by BofA/Merrill to ” Neutral” on Jan 27, 2016.

Merck & Co. Inc. is a global health care company. The Company offers health solutions through its prescription medicines vaccines biologic therapies and animal health products which it markets directly and through its joint ventures. The Company’s Pharmaceutical segment includes human health pharmaceutical and vaccine products marketed either directly by the Company or through joint ventures. Human health pharmaceutical products consist of therapeutic and preventive agents generally sold by prescription for the treatment of human disorders. The Company sells these human health pharmaceutical products primarily to drug wholesalers and retailers hospitals government agencies and managed health care providers. The Animal Health segment discovers develops manufactures and markets animal health products including vaccines. The Company’s animal health products are sold to veterinarians distributors and animal producers.

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