Cordasco Financial Network Lowers stake in Merck & Co. (MRK)

Merck & Co. (MRK) : Cordasco Financial Network reduced its stake in Merck & Co. by 2.03% during the most recent quarter end. The investment management company now holds a total of 27,556 shares of Merck & Co. which is valued at $1,614,782 after selling 570 shares in Merck & Co. , the firm said in a disclosure report filed with the SEC on Jul 25, 2016.Merck & Co. makes up approximately 1.81% of Cordasco Financial Network’s portfolio.

Other Hedge Funds, Including , E&g Advisors Lp reduced its stake in MRK by selling 2,695 shares or 9.78% in the most recent quarter. The Hedge Fund company now holds 24,860 shares of MRK which is valued at $1,456,796. Merck & Co. makes up approx 0.85% of E&g Advisors Lp’s portfolio.W.g. Shaheen Associates Dba Whitney Co boosted its stake in MRK in the latest quarter, The investment management firm added 235 additional shares and now holds a total of 77,650 shares of Merck & Co. which is valued at $4,567,373. Merck & Co. makes up approx 1.80% of W.g. Shaheen Associates Dba Whitney Co’s portfolio.Lynch Associatesin boosted its stake in MRK in the latest quarter, The investment management firm added 12,604 additional shares and now holds a total of 77,018 shares of Merck & Co. which is valued at $4,530,199. Merck & Co. makes up approx 1.98% of Lynch Associatesin’s portfolio.Charter Trust Co boosted its stake in MRK in the latest quarter, The investment management firm added 1,305 additional shares and now holds a total of 161,380 shares of Merck & Co. which is valued at $9,487,530. Merck & Co. makes up approx 1.07% of Charter Trust Co’s portfolio.Beech Hill Advisors reduced its stake in MRK by selling 720 shares or 0.71% in the most recent quarter. The Hedge Fund company now holds 100,929 shares of MRK which is valued at $5,933,616. Merck & Co. makes up approx 3.86% of Beech Hill Advisors’s portfolio.

Merck & Co. opened for trading at $59.01 and hit $59.2 on the upside on Friday, eventually ending the session at $58.66, with a gain of 0.39% or 0.23 points. The heightened volatility saw the trading volume jump to 84,91,237 shares. Company has a market cap of $162,372 M.

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.

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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *