Grassi Investment Management Lowers stake in Merck & Co. (MRK)

Merck & Co. (MRK) : Grassi Investment Management reduced its stake in Merck & Co. by 3.27% during the most recent quarter end. The investment management company now holds a total of 125,568 shares of Merck & Co. which is valued at $7,776,426 after selling 4,248 shares in Merck & Co. , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Merck & Co. makes up approximately 1.50% of Grassi Investment Management’s portfolio.

Other Hedge Funds, Including , Banced Corp reduced its stake in MRK by selling 917 shares or 13.8% in the most recent quarter. The Hedge Fund company now holds 5,728 shares of MRK which is valued at $354,735. Merck & Co. makes up approx 0.70% of Banced Corp’s portfolio.Chevy Chase Trust Holdings reduced its stake in MRK by selling 20,599 shares or 0.7% in the most recent quarter. The Hedge Fund company now holds 2,909,930 shares of MRK which is valued at $182,743,604. Merck & Co. makes up approx 1.00% of Chevy Chase Trust Holdings’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in MRK in the latest quarter, The investment management firm added 394,877 additional shares and now holds a total of 1,278,230 shares of Merck & Co. which is valued at $80,272,844. Merck & Co. makes up approx 0.33% of Bnp Paribas Arbitrage Sa’s portfolio.Kempner Capital Management reduced its stake in MRK by selling 23,283 shares or 52.01% in the most recent quarter. The Hedge Fund company now holds 21,485 shares of MRK which is valued at $1,349,258. Merck & Co. makes up approx 0.93% of Kempner Capital Management’s portfolio.Washington Trust Bank boosted its stake in MRK in the latest quarter, The investment management firm added 2,888 additional shares and now holds a total of 34,411 shares of Merck & Co. which is valued at $2,161,011. Merck & Co. makes up approx 0.52% of Washington Trust Bank’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.

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