Raymond James Trust N.a. buys $21,760,187 stake in Merck & Co. (MRK)

Merck & Co. (MRK) : Raymond James Trust N.a. scooped up 2,790 additional shares in Merck & Co. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 11, 2016. The investment management firm now holds a total of 340,535 shares of Merck & Co. which is valued at $21,760,187.Merck & Co. makes up approximately 1.88% of Raymond James Trust N.a.’s portfolio.

Other Hedge Funds, Including , Gradient Investments reduced its stake in MRK by selling 73,624 shares or 97.26% in the most recent quarter. The Hedge Fund company now holds 2,073 shares of MRK which is valued at $132,465. Merck & Co. makes up approx 0.01% of Gradient Investments’s portfolio.First National Bank Of Mount Dora Trust Investment Services boosted its stake in MRK in the latest quarter, The investment management firm added 10,034 additional shares and now holds a total of 54,790 shares of Merck & Co. which is valued at $3,440,812. Merck & Co. makes up approx 1.93% of First National Bank Of Mount Dora Trust Investment Services’s portfolio.Telemus Capital reduced its stake in MRK by selling 440 shares or 1.29% in the most recent quarter. The Hedge Fund company now holds 33,705 shares of MRK which is valued at $2,116,674. Merck & Co. makes up approx 0.24% of Telemus Capital’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.. 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.Company shares were Reiterated by Deutsche Bank on Aug 8, 2016 to “Hold”, Firm has raised the Price Target to $ 59 from a previous price target of $58 .

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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