ExodusPoint Capital Management LP Takes Position in Merck & Co., Inc. (NYSE:MRK)

ExodusPoint Capital Management LP acquired a new position in shares of Merck & Co., Inc. (NYSE:MRK) in the 4th quarter, Holdings Channel reports. The fund acquired 91,315 shares of the company’s stock, valued at approximately $9,084,000.

Several other hedge funds have also recently added to or reduced their stakes in MRK. Midwest Capital Advisors LLC bought a new stake in shares of Merck & Co., Inc. in the fourth quarter valued at approximately $26,000. Financial Life Planners acquired a new position in Merck & Co., Inc. during the 4th quarter valued at $28,000. Noble Wealth Management PBC bought a new stake in Merck & Co., Inc. in the 4th quarter valued at $28,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Merck & Co., Inc. in the 4th quarter worth $28,000. Finally, Promus Capital LLC bought a new position in shares of Merck & Co., Inc. during the 4th quarter worth about $30,000. Institutional investors own 76.07% of the company’s stock.

Merck & Co., Inc. Trading Down 5.7 %

MRK opened at $81.48 on Friday. Merck & Co., Inc. has a 1-year low of $81.04 and a 1-year high of $134.63. The stock has a market capitalization of $205.83 billion, a PE ratio of 12.11, a PEG ratio of 0.77 and a beta of 0.40. The company has a current ratio of 1.36, a quick ratio of 1.15 and a debt-to-equity ratio of 0.79. The firm has a 50-day moving average price of $90.90 and a two-hundred day moving average price of $99.18.

Merck & Co., Inc. (NYSE:MRK) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $1.72 earnings per share for the quarter, missing analysts’ consensus estimates of $1.85 by ($0.13). Merck & Co., Inc. had a net margin of 26.67% and a return on equity of 45.35%. The company had revenue of $15.62 billion during the quarter, compared to analyst estimates of $15.51 billion. During the same period in the prior year, the business earned $0.03 EPS. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, equities analysts anticipate that Merck & Co., Inc. will post 9.01 earnings per share for the current fiscal year.

Merck & Co., Inc. declared that its board has authorized a stock repurchase plan on Tuesday, January 28th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 4.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Merck & Co., Inc. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Monday, March 17th will be issued a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 3.98%. The ex-dividend date of this dividend is Monday, March 17th. Merck & Co., Inc.’s dividend payout ratio is 48.14%.

Insider Buying and Selling

In other Merck & Co., Inc. news, Director Inge G. Thulin bought 2,833 shares of the stock in a transaction on Thursday, February 6th. The stock was purchased at an average price of $88.25 per share, with a total value of $250,012.25. Following the acquisition, the director now owns 2,933 shares of the company’s stock, valued at approximately $258,837.25. The trade was a 2,833.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Cristal N. Downing sold 2,361 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $88.76, for a total value of $209,562.36. Following the completion of the transaction, the insider now directly owns 7,085 shares in the company, valued at approximately $628,864.60. This trade represents a 24.99 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on MRK. Guggenheim lowered their price target on Merck & Co., Inc. from $122.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. TD Cowen lowered Merck & Co., Inc. from a “buy” rating to a “hold” rating and cut their target price for the company from $121.00 to $100.00 in a research note on Monday, February 10th. Leerink Partners decreased their price target on shares of Merck & Co., Inc. from $136.00 to $119.00 and set an “outperform” rating on the stock in a research note on Monday, January 13th. TD Securities cut shares of Merck & Co., Inc. from a “buy” rating to a “hold” rating and dropped their price objective for the company from $121.00 to $100.00 in a research note on Monday, February 10th. Finally, Bank of America decreased their target price on shares of Merck & Co., Inc. from $118.00 to $112.00 and set a “buy” rating on the stock in a research report on Wednesday, February 5th. Eleven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $117.12.

About Merck & Co., Inc.

Merck & Co, Inc is a health care company, which engages in the provision of health solutions through its prescription medicines, vaccines, biologic therapies, animal health, and consumer care products. It operates through the following segments: Pharmaceutical, Animal Health, and Other. The Pharmaceutical segment includes human health pharmaceutical and vaccine products.