Stock Yards Bank Trust Co Lowers stake in Merck & Co. (MRK)

Merck & Co. (MRK) : Stock Yards Bank Trust Co reduced its stake in Merck & Co. by 6.18% during the most recent quarter end. The investment management company now holds a total of 52,919 shares of Merck & Co. which is valued at $3,288,387 after selling 3,486 shares in Merck & Co. , the firm said in a disclosure report filed with the SEC on Oct 14, 2016.Merck & Co. makes up approximately 0.45% of Stock Yards Bank Trust Co’s portfolio.

Other Hedge Funds, Including , Elite Wealth Management reduced its stake in MRK by selling 480 shares or 8.77% in the most recent quarter. The Hedge Fund company now holds 4,991 shares of MRK which is valued at $310,141. Merck & Co. makes up approx 0.45% of Elite Wealth Management’s portfolio.Carl Domino Inc reduced its stake in MRK by selling 1,075 shares or 3.94% in the most recent quarter. The Hedge Fund company now holds 26,207 shares of MRK which is valued at $1,623,000. Merck & Co. makes up approx 1.55% of Carl Domino Inc’s portfolio.Cutler Group Lp reduced its stake in MRK by selling 75,053 shares or 69.23% in the most recent quarter. The Hedge Fund company now holds 33,359 shares of MRK which is valued at $2,131,640. Merck & Co. makes up approx 0.13% of Cutler Group Lp’s portfolio.Foundation Resource Management Inc reduced its stake in MRK by selling 4,155 shares or 0.63% in the most recent quarter. The Hedge Fund company now holds 652,982 shares of MRK which is valued at $41,007,270. Merck & Co. makes up approx 7.39% of Foundation Resource Management Inc’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.

Leave a Reply

Merck & Co. - Is it time to Sell?

Top Brokerage Firms are advising their investors on Merck & Co.. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.