Lazard Asset Management LLC Acquires 2,775,313 Shares of Merck & Co., Inc. (NYSE:MRK)

Lazard Asset Management LLC raised its holdings in shares of Merck & Co., Inc. (NYSE:MRK) by 438.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,408,939 shares of the company’s stock after purchasing an additional 2,775,313 shares during the period. Lazard Asset Management LLC’s holdings in Merck & Co., Inc. were worth $339,120,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MRK. Midwest Capital Advisors LLC acquired a new position in Merck & Co., Inc. in the 4th quarter valued at $26,000. Financial Life Planners acquired a new position in shares of Merck & Co., Inc. during the fourth quarter worth $28,000. Noble Wealth Management PBC acquired a new stake in shares of Merck & Co., Inc. during the fourth quarter worth about $28,000. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Merck & Co., Inc. during the fourth quarter worth approximately $28,000. Finally, Promus Capital LLC acquired a new position in shares of Merck & Co., Inc. during the 4th quarter worth $30,000. Hedge funds and other institutional investors own 76.07% of the company’s stock.

Merck & Co., Inc. Trading Down 2.3%

Shares of MRK stock opened at $75.88 on Monday. The stock has a market capitalization of $190.54 billion, a price-to-earnings ratio of 11.27, a PEG ratio of 0.77 and a beta of 0.43. The company’s fifty day simple moving average is $85.27 and its two-hundred day simple moving average is $93.13. Merck & Co., Inc. has a 1 year low of $73.70 and a 1 year high of $134.63. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.36 and a quick ratio of 1.15.

Merck & Co., Inc. (NYSE:MRK) last released its quarterly earnings data on Thursday, April 24th. The company reported $2.22 EPS for the quarter, topping the consensus estimate of $2.16 by $0.06. Merck & Co., Inc. had a return on equity of 45.35% and a net margin of 26.67%. The firm had revenue of $15.53 billion for the quarter, compared to the consensus estimate of $15.59 billion. During the same quarter in the previous year, the business earned $2.07 earnings per share. The company’s quarterly revenue was down 1.6% on a year-over-year basis. As a group, analysts anticipate that Merck & Co., Inc. will post 9.01 earnings per share for the current year.

Merck & Co., Inc. announced that its Board of Directors has authorized a share buyback plan on Tuesday, January 28th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the company to purchase up to 4.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

MRK has been the subject of several analyst reports. BMO Capital Markets dropped their target price on Merck & Co., Inc. from $105.00 to $96.00 and set a “market perform” rating for the company in a research note on Wednesday, February 5th. Morgan Stanley decreased their target price on shares of Merck & Co., Inc. from $113.00 to $106.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. Cantor Fitzgerald began coverage on shares of Merck & Co., Inc. in a report on Tuesday, April 22nd. They set a “neutral” rating and a $85.00 price target for the company. Guggenheim reissued a “buy” rating and set a $115.00 price objective on shares of Merck & Co., Inc. in a research report on Thursday, April 17th. Finally, Leerink Partners decreased their price objective on shares of Merck & Co., Inc. from $136.00 to $119.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. Twelve equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $111.13.

Insider Activity at Merck & Co., Inc.

In related news, SVP Dalton E. Smart III sold 4,262 shares of the firm’s stock in a transaction on Friday, April 25th. The shares were sold at an average price of $82.76, for a total value of $352,723.12. Following the completion of the transaction, the senior vice president now directly owns 7,778 shares of the company’s stock, valued at approximately $643,707.28. This trade represents a 35.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is owned by company insiders.

Merck & Co., Inc. Company Profile

Merck & Co, Inc is a health care company, which engages in the provision of health solutions through its prescription medicines, vaccines, biologic therapies, animal health, and consumer care products. It operates through the following segments: Pharmaceutical, Animal Health, and Other. The Pharmaceutical segment includes human health pharmaceutical and vaccine products.