Merck & Co. (MRK) was Upgraded by Credit Suisse to ” Outperform” and the brokerage firm has set the Price Target at $73. Earlier the firm had a rating of “Neutral ” on the company shares. Credit Suisse advised their investors in a research report released on Aug 8, 2016.
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 Jul 29, 2016. Analyst had a consensus of $0.91. The company had revenue of $9844.00 million for the quarter, compared to analysts expectations of $9782.80 million. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 EPS.
Merck & Co. opened for trading at $62.51 and hit $64 on the upside on Friday, eventually ending the session at $63.86, with a gain of 10.41% or 6.02 points. The heightened volatility saw the trading volume jump to 7,28,75,999 shares. Company has a market cap of $176,766 M.
Investors should note that on Jul 26, 2016, Merck & Co. announced a cash dividend of $0.4600. The company’s management has announced Sep 13, 2016 as the ex-dividend date and fixed the record date on Sep 15, 2016. The payable date has been fixed on Oct 7, 2016.
In a different news, on Aug 5, 2016, Kenneth C Frazier (Chairman, President & CEO) sold 392,000 shares at $61.95 per share price. According to the SEC, on Jul 5, 2016, Weir Mirian M Graddick (Exe V-P, HR) sold 45,000 shares at $57.96 per share price. On Jul 1, 2016, Adam H Schechter (EVP & Pres-Global Human Health) sold 50,000 shares at $57.69 per share price, according to the Form-4 filing with the securities and exchange commission.
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 Companys 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 Companys animal health products are sold to veterinarians distributors and animal producers.