Cohen Klingenstein buys $5,435,697 stake in Merck & Co. (MRK)

Merck & Co. (MRK) : Cohen Klingenstein scooped up 16,000 additional shares in Merck & Co. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 14, 2016. The investment management firm now holds a total of 87,475 shares of Merck & Co. which is valued at $5,435,697.Merck & Co. makes up approximately 0.96% of Cohen Klingenstein’s portfolio.

Other Hedge Funds, Including , Btr Capital Management Inc reduced its stake in MRK by selling 18,394 shares or 21.26% in the most recent quarter. The Hedge Fund company now holds 68,132 shares of MRK which is valued at $4,233,722. Merck & Co. makes up approx 0.97% of Btr Capital Management Inc’s portfolio.Needelman Asset Management Inc reduced its stake in MRK by selling 25 shares or 0.18% in the most recent quarter. The Hedge Fund company now holds 13,730 shares of MRK which is valued at $858,262. Merck & Co. makes up approx 2.64% of Needelman Asset Management Inc’s portfolio.Elm Advisors reduced its stake in MRK by selling 200 shares or 1.8% in the most recent quarter. The Hedge Fund company now holds 10,909 shares of MRK which is valued at $675,594. Merck & Co. makes up approx 0.64% of Elm Advisors’s portfolio.Banced Corp reduced its stake in MRK by selling 917 shares or 13.8% in the most recent quarter. The Hedge Fund company now holds 5,728 shares of MRK which is valued at $354,735. Merck & Co. makes up approx 0.70% of Banced Corp’s portfolio.Pure Financial Advisors boosted its stake in MRK in the latest quarter, The investment management firm added 41 additional shares and now holds a total of 19,582 shares of Merck & Co. which is valued at $1,229,162. Merck & Co. makes up approx 0.40% of Pure Financial Advisors’s portfolio.

Merck & Co. closed down -0.37 points or -0.59% at $62.14 with 1,22,04,208 shares getting traded on Friday. Post opening the session at $62.72, the shares hit an intraday low of $62.13 and an intraday high of $62.86 and the price fluctuated in this range throughout the day.Shares ended Friday 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.. Merck & Co. was Upgraded by BofA/Merrill to ” Buy” on Oct 13, 2016. 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.

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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