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

Merck & Co. (MRK) : Salem Capital Management Inc reduced its stake in Merck & Co. by 0.12% during the most recent quarter end. The investment management company now holds a total of 118,034 shares of Merck & Co. which is valued at $6,626,429 after selling 140 shares in Merck & Co. , the firm said in a disclosure report filed with the SEC on Apr 11, 2016.Merck & Co. makes up approximately 3.66% of Salem Capital Management Inc’s portfolio.

Merck & Co. closed down -0.31 points or -0.55% at $56.14 with 84,34,440 shares getting traded on Friday. Post opening the session at $56.53, the shares hit an intraday low of $55.88 and an intraday high of $56.55 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , Lynch Associatesin reduced its stake in MRK by selling 1,790 shares or 2.7% in the most recent quarter. The Hedge Fund company now holds 64,414 shares of MRK which is valued at $3,616,202. Merck & Co. makes up approx 1.70% of Lynch Associatesin’s portfolio.Waverton Investment Management Ltd boosted its stake in MRK in the latest quarter, The investment management firm added 1,020 additional shares and now holds a total of 17,260 shares of Merck & Co. which is valued at $950,163. Merck & Co. makes up approx 0.07% of Waverton Investment Management Ltd’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.Foundation Resource Management Inc reduced its stake in MRK by selling 6,737 shares or 1.01% in the most recent quarter. The Hedge Fund company now holds 657,437 shares of MRK which is valued at $36,191,907. Merck & Co. makes up approx 7.29% of Foundation Resource Management Inc’s portfolio.First National Bank Of Mount Dora Trust Investment Services boosted its stake in MRK in the latest quarter, The investment management firm added 11,360 additional shares and now holds a total of 41,912 shares of Merck & Co. which is valued at $2,307,256. Merck & Co. makes up approx 1.37% of First National Bank Of Mount Dora Trust Investment Services’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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