Martingale Asset Management L P buys $50.9 Million stake in Merck & Co. (MRK)

Merck & Co. (MRK) : Martingale Asset Management L P scooped up 98,716 additional shares in Merck & Co. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 944,508 shares of Merck & Co. which is valued at $50.9 Million.Merck & Co. makes up approximately 1.01% of Martingale Asset Management L P’s portfolio.

Other Hedge Funds, Including , Mandatum Life Insurance Co Ltd sold out all of its stake in MRK during the most recent quarter. The investment firm sold 190 shares of MRK which is valued $10,237.Rhumbline Advisers boosted its stake in MRK in the latest quarter, The investment management firm added 149,026 additional shares and now holds a total of 3,829,368 shares of Merck & Co. which is valued at $205.3 Million. Merck & Co. makes up approx 0.64% of Rhumbline Advisers’s portfolio. Telemus Capital added MRK to its portfolio by purchasing 33,418 company shares during the most recent quarter which is valued at $1.8 Million. Merck & Co. makes up approx 0.30% of Telemus Capital’s portfolio.Commonwealth Equity Services Inc boosted its stake in MRK in the latest quarter, The investment management firm added 29,679 additional shares and now holds a total of 845,044 shares of Merck & Co. which is valued at $46.3 Million. Merck & Co. makes up approx 0.41% of Commonwealth Equity Services Inc’s portfolio.Winfield Associates boosted its stake in MRK in the latest quarter, The investment management firm added 230 additional shares and now holds a total of 518 shares of Merck & Co. which is valued at $28,407. Merck & Co. makes up approx 0.02% of Winfield Associates’s portfolio.

Merck & Co. opened for trading at $53.77 and hit $54.77 on the upside on Monday, eventually ending the session at $54.65, with a gain of 1.43% or 0.77 points. The heightened volatility saw the trading volume jump to 66,49,085 shares. Company has a market cap of $151,273 M.

On the company’s financial health, Merck & Co. reported $0.89 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.85. The company had revenue of $9312.00 million for the quarter, compared to analysts expectations of $9445.10 million. The company’s revenue was down -1.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.85 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. 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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