Kentucky Retirement Systems Insurance Trust Fund Trims Holdings in Merck & Co., Inc. (NYSE:MRK)

Kentucky Retirement Systems Insurance Trust Fund lowered its position in shares of Merck & Co., Inc. (NYSE:MRK) by 8.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 75,049 shares of the company’s stock after selling 6,644 shares during the period. Merck & Co., Inc. accounts for 0.6% of Kentucky Retirement Systems Insurance Trust Fund’s investment portfolio, making the stock its 24th largest holding. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Merck & Co., Inc. were worth $8,523,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new position in Merck & Co., Inc. in the 2nd quarter worth approximately $39,000. Abich Financial Wealth Management LLC grew its stake in Merck & Co., Inc. by 121.8% during the second quarter. Abich Financial Wealth Management LLC now owns 326 shares of the company’s stock valued at $40,000 after acquiring an additional 179 shares in the last quarter. Quarry LP bought a new stake in Merck & Co., Inc. in the 2nd quarter valued at $42,000. Strategic Financial Concepts LLC boosted its holdings in shares of Merck & Co., Inc. by 1,475.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 35,057 shares of the company’s stock valued at $43,000 after purchasing an additional 32,832 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC increased its holdings in shares of Merck & Co., Inc. by 47.5% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 379 shares of the company’s stock worth $43,000 after purchasing an additional 122 shares during the last quarter. 76.07% of the stock is currently owned by institutional investors.

Merck & Co., Inc. Trading Down 2.1 %

Shares of NYSE:MRK opened at $96.30 on Friday. The business’s 50-day moving average is $108.84 and its 200 day moving average is $118.97. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.36 and a quick ratio of 1.15. Merck & Co., Inc. has a 1 year low of $94.48 and a 1 year high of $134.63. The firm has a market capitalization of $243.60 billion, a P/E ratio of 20.19, a P/E/G ratio of 1.41 and a beta of 0.40.

Merck & Co., Inc. (NYSE:MRK) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.07. The firm had revenue of $16.66 billion for the quarter, compared to the consensus estimate of $16.47 billion. Merck & Co., Inc. had a net margin of 19.23% and a return on equity of 36.42%. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.13 earnings per share. On average, research analysts predict that Merck & Co., Inc. will post 7.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on MRK shares. Daiwa Capital Markets downgraded shares of Merck & Co., Inc. from a “buy” rating to a “neutral” rating in a report on Monday, November 11th. Morgan Stanley dropped their target price on Merck & Co., Inc. from $130.00 to $123.00 and set an “equal weight” rating for the company in a report on Friday, November 1st. Citigroup lowered their price target on Merck & Co., Inc. from $140.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Evercore ISI upgraded shares of Merck & Co., Inc. to a “strong-buy” rating in a report on Tuesday, July 30th. Finally, Sanford C. Bernstein began coverage on shares of Merck & Co., Inc. in a research report on Thursday, October 17th. They issued a “market perform” rating and a $115.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $130.86.

About Merck & Co., Inc.

Merck & Co, Inc operates as a healthcare company worldwide. It operates through two segments, Pharmaceutical and Animal Health. The Pharmaceutical segment offers human health pharmaceutical products in the areas of oncology, hospital acute care, immunology, neuroscience, virology, cardiovascular, and diabetes under the Keytruda, Bridion, Adempas, Lagevrio, Belsomra, Simponi, and Januvia brands, as well as vaccine products consisting of preventive pediatric, adolescent, and adult vaccines under the Gardasil/Gardasil 9, ProQuad, M-M-R II, Varivax, RotaTeq, Live Oral, Vaxneuvance, Pneumovax 23, and Vaqta names.