Envestnet Asset Management Inc Lowers stake in Merck & Co. (MRK)

Merck & Co. (MRK) : Envestnet Asset Management Inc reduced its stake in Merck & Co. by 33.38% during the most recent quarter end. The investment management company now holds a total of 801,211 shares of Merck & Co. which is valued at $50,900,935 after selling 401,506 shares in Merck & Co. , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Merck & Co. makes up approximately 0.20% of Envestnet Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Tekla Capital Management boosted its stake in MRK in the latest quarter, The investment management firm added 448,800 additional shares and now holds a total of 1,246,397 shares of Merck & Co. which is valued at $79,183,601. Merck & Co. makes up approx 3.19% of Tekla Capital Management’s portfolio.Liberty Mutual Group Asset Management boosted its stake in MRK in the latest quarter, The investment management firm added 2,995 additional shares and now holds a total of 197,877 shares of Merck & Co. which is valued at $12,854,090. Merck & Co. makes up approx 0.47% of Liberty Mutual Group Asset Management’s portfolio.Deroy Devereaux Private Investment Counsel Inc boosted its stake in MRK in the latest quarter, The investment management firm added 2,699 additional shares and now holds a total of 251,178 shares of Merck & Co. which is valued at $14,779,314. Merck & Co. makes up approx 1.94% of Deroy Devereaux Private Investment Counsel Inc’s portfolio.Kames Capital Plc boosted its stake in MRK in the latest quarter, The investment management firm added 5,437 additional shares and now holds a total of 906,592 shares of Merck & Co. which is valued at $55,075,464. Merck & Co. makes up approx 1.55% of Kames Capital Plc’s portfolio.

Merck & Co. closed down -0.83 points or -1.32% at $61.87 with 76,96,863 shares getting traded on Monday. Post opening the session at $62.57, the shares hit an intraday low of $61.73 and an intraday high of $62.62 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Merck & Co. reported $1.07 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Oct 25, 2016. Analyst had a consensus of $0.99. The company had revenue of $10536.00 million for the quarter, compared to analysts expectations of $10178.17 million. The company’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.96 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 .

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.

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