Merck & Co. (MRK) : New Jersey Better Educational Savings Trust reduced its stake in Merck & Co. by 8.33% during the most recent quarter end. The investment management company now holds a total of 22,000 shares of Merck & Co. which is valued at $1,268,300 after selling 2,000 shares in Merck & Co. , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Merck & Co. makes up approximately 0.81% of New Jersey Better Educational Savings Trust’s portfolio.
Other Hedge Funds, Including , Agran Libbie boosted its stake in MRK in the latest quarter, The investment management firm added 1,350 additional shares and now holds a total of 5,464 shares of Merck & Co. which is valued at $320,190. Merck & Co. makes up approx 0.08% of Agran Libbie’s portfolio.E&g Advisors Lp reduced its stake in MRK by selling 2,695 shares or 9.78% in the most recent quarter. The Hedge Fund company now holds 24,860 shares of MRK which is valued at $1,456,796. Merck & Co. makes up approx 0.85% of E&g Advisors Lp’s portfolio.
Merck & Co. closed down -1 points or -1.57% at $62.86 with 2,50,45,945 shares getting traded on Monday. Post opening the session at $62.66, the shares hit an intraday low of $61.95 and an intraday high of $63.02 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
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.
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.
Many Wall Street Analysts have commented on Merck & Co.. Credit Suisse Upgraded Merck & Co. on Aug 8, 2016 to ” Outperform”, Price Target of the shares are set at $73.Company shares were Reiterated by Deutsche Bank on Aug 8, 2016 to “Hold”, Firm has raised the Price Target to $ 59 from a previous price target of $58 .
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.