Cacti Asset Management buys $40,091,646 stake in Merck & Co. (MRK)

Merck & Co. (MRK) : Cacti Asset Management scooped up 30,808 additional shares in Merck & Co. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 3, 2016. The investment management firm now holds a total of 638,402 shares of Merck & Co. which is valued at $40,091,646.Merck & Co. makes up approximately 4.08% of Cacti Asset Management’s portfolio.

Other Hedge Funds, Including , Cullinan Associates Inc reduced its stake in MRK by selling 11,100 shares or 4.8% in the most recent quarter. The Hedge Fund company now holds 220,061 shares of MRK which is valued at $13,819,831. Merck & Co. makes up approx 1.19% of Cullinan Associates Inc’s portfolio.

Merck & Co. closed down -0.06 points or -0.10% at $62.46 with 78,97,397 shares getting traded on Tuesday. Post opening the session at $62.48, the shares hit an intraday low of $61.94 and an intraday high of $62.95 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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.

Many Wall Street Analysts have commented on Merck & Co.. Company shares were Reiterated by Barclays on Sep 9, 2016 to “Overweight”, Firm has raised the Price Target to $ 72 from a previous price target of $66 .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 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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