Edge Wealth Management Lowers stake in Merck & Co. (MRK)

Merck & Co. (MRK) : Edge Wealth Management reduced its stake in Merck & Co. by 26.59% during the most recent quarter end. The investment management company now holds a total of 23,382 shares of Merck & Co. which is valued at $1,461,609 after selling 8,468 shares in Merck & Co. , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.Merck & Co. makes up approximately 0.62% of Edge Wealth Management’s portfolio.

Other Hedge Funds, Including , Howland Capital Management reduced its stake in MRK by selling 1,290 shares or 2.66% in the most recent quarter. The Hedge Fund company now holds 47,181 shares of MRK which is valued at $2,949,284. Merck & Co. makes up approx 0.28% of Howland Capital Management’s portfolio.Centurylink Investment Management Co reduced its stake in MRK by selling 1,424 shares or 2.2% in the most recent quarter. The Hedge Fund company now holds 63,188 shares of MRK which is valued at $3,913,233. Merck & Co. makes up approx 1.35% of Centurylink Investment Management Co’s portfolio.Patten Patten Inctn boosted its stake in MRK in the latest quarter, The investment management firm added 1,137 additional shares and now holds a total of 167,233 shares of Merck & Co. which is valued at $10,356,740. Merck & Co. makes up approx 1.35% of Patten Patten Inctn’s portfolio.Catawba Capital Management Va reduced its stake in MRK by selling 3,955 shares or 6.84% in the most recent quarter. The Hedge Fund company now holds 53,870 shares of MRK which is valued at $3,381,420. Merck & Co. makes up approx 0.81% of Catawba Capital Management Va’s portfolio.

Merck & Co. closed down -1.97 points or -3.08% at $61.93 with 1,39,55,380 shares getting traded on Tuesday. Post opening the session at $63.53, the shares hit an intraday low of $61.75 and an intraday high of $63.55 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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.

Comments (0)

Leave a Reply

Your email address will not be published.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

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.