Edgestream Partners L.P. Invests $1.21 Million in Merck & Co., Inc. (NYSE:MRK)

Edgestream Partners L.P. purchased a new position in Merck & Co., Inc. (NYSE:MRK) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,750 shares of the company’s stock, valued at approximately $1,207,000.

A number of other hedge funds also recently added to or reduced their stakes in MRK. Vermillion & White Wealth Management Group LLC purchased a new stake in Merck & Co., Inc. in the fourth quarter worth about $27,000. Burkett Financial Services LLC purchased a new stake in shares of Merck & Co., Inc. during the fourth quarter valued at about $28,000. Tidemark LLC purchased a new stake in shares of Merck & Co., Inc. during the fourth quarter valued at about $31,000. Clear Investment Research LLC purchased a new stake in shares of Merck & Co., Inc. during the fourth quarter valued at about $39,000. Finally, Roble Belko & Company Inc lifted its position in shares of Merck & Co., Inc. by 35.3% during the first quarter. Roble Belko & Company Inc now owns 326 shares of the company’s stock valued at $43,000 after buying an additional 85 shares during the last quarter. 76.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on MRK shares. Wolfe Research raised shares of Merck & Co., Inc. to a “strong-buy” rating in a research report on Wednesday, July 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $155.00 price objective on shares of Merck & Co., Inc. in a research report on Monday, September 16th. Wells Fargo & Company decreased their price objective on shares of Merck & Co., Inc. from $140.00 to $125.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 31st. Evercore ISI raised shares of Merck & Co., Inc. to a “strong-buy” rating in a research report on Tuesday, July 30th. Finally, Morgan Stanley increased their price target on shares of Merck & Co., Inc. from $132.00 to $134.00 and gave the stock an “equal weight” rating in a report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $134.58.

Merck & Co., Inc. Price Performance

Shares of NYSE MRK opened at $117.16 on Friday. The stock has a market capitalization of $296.74 billion, a price-to-earnings ratio of 130.18, a PEG ratio of 1.59 and a beta of 0.39. Merck & Co., Inc. has a 12 month low of $99.14 and a 12 month high of $134.63. The firm’s 50 day simple moving average is $117.85 and its 200-day simple moving average is $124.30. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.47 and a quick ratio of 1.22.

Merck & Co., Inc. (NYSE:MRK) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.12. The business had revenue of $16.10 billion for the quarter, compared to analysts’ expectations of $15.87 billion. Merck & Co., Inc. had a net margin of 21.99% and a return on equity of 40.69%. The business’s revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the company earned ($2.06) EPS. Analysts expect that Merck & Co., Inc. will post 8.01 EPS for the current year.

Merck & Co., Inc. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Investors of record on Monday, September 16th will be paid a $0.77 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $3.08 dividend on an annualized basis and a yield of 2.63%. Merck & Co., Inc.’s dividend payout ratio is currently 342.22%.

About Merck & Co., Inc.

Merck & Co, Inc operates as a healthcare company worldwide. It operates through two segments, Pharmaceutical and Animal Health. The Pharmaceutical segment offers human health pharmaceutical products in the areas of oncology, hospital acute care, immunology, neuroscience, virology, cardiovascular, and diabetes under the Keytruda, Bridion, Adempas, Lagevrio, Belsomra, Simponi, and Januvia brands, as well as vaccine products consisting of preventive pediatric, adolescent, and adult vaccines under the Gardasil/Gardasil 9, ProQuad, M-M-R II, Varivax, RotaTeq, Live Oral, Vaxneuvance, Pneumovax 23, and Vaqta names.