Causeway Capital Management LLC Acquires Shares of 584,473 Merck & Co., Inc. (NYSE:MRK)

Causeway Capital Management LLC bought a new position in Merck & Co., Inc. (NYSE:MRK) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 584,473 shares of the company’s stock, valued at approximately $58,143,000. Merck & Co., Inc. comprises about 1.3% of Causeway Capital Management LLC’s investment portfolio, making the stock its 19th biggest holding.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Merck & Co., Inc. by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 251,096,107 shares of the company’s stock worth $24,979,041,000 after buying an additional 1,292,192 shares in the last quarter. Wellington Management Group LLP grew its position in Merck & Co., Inc. by 6.5% during the 4th quarter. Wellington Management Group LLP now owns 80,742,030 shares of the company’s stock worth $8,032,217,000 after acquiring an additional 4,932,647 shares during the last quarter. Geode Capital Management LLC increased its holdings in Merck & Co., Inc. by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 61,181,863 shares of the company’s stock valued at $6,072,582,000 after purchasing an additional 2,026,859 shares in the last quarter. Norges Bank acquired a new position in Merck & Co., Inc. in the fourth quarter worth $3,479,799,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Merck & Co., Inc. by 29.7% during the fourth quarter. Bank of New York Mellon Corp now owns 24,213,537 shares of the company’s stock worth $2,408,763,000 after purchasing an additional 5,550,824 shares during the last quarter. Institutional investors and hedge funds own 76.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Bank of America cut their price target on Merck & Co., Inc. from $118.00 to $112.00 and set a “buy” rating for the company in a report on Wednesday, February 5th. TD Cowen lowered shares of Merck & Co., Inc. from a “buy” rating to a “hold” rating and lowered their price target for the company from $121.00 to $100.00 in a report on Monday, February 10th. Morgan Stanley reduced their price objective on Merck & Co., Inc. from $113.00 to $106.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. TD Securities lowered Merck & Co., Inc. from a “buy” rating to a “hold” rating and cut their price target for the company from $121.00 to $100.00 in a research note on Monday, February 10th. Finally, Guggenheim cut their target price on shares of Merck & Co., Inc. from $122.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, February 12th. Eleven investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $115.50.

Merck & Co., Inc. Stock Up 2.1 %

Merck & Co., Inc. stock opened at $79.14 on Monday. Merck & Co., Inc. has a twelve month low of $75.96 and a twelve month high of $134.63. The company has a quick ratio of 1.15, a current ratio of 1.36 and a debt-to-equity ratio of 0.79. The company has a 50 day moving average of $88.43 and a 200-day moving average of $97.28. The stock has a market capitalization of $199.91 billion, a PE ratio of 11.76, a price-to-earnings-growth ratio of 0.77 and a beta of 0.40.

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

Merck & Co., Inc. Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Monday, March 17th were given a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date was Monday, March 17th. Merck & Co., Inc.’s dividend payout ratio is currently 48.14%.

Merck & Co., Inc. announced that its Board of Directors has approved a stock repurchase program on Tuesday, January 28th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 4.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Merck & Co., Inc.

In other Merck & Co., Inc. news, 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 sale, the insider now owns 7,085 shares in the company, valued at $628,864.60. This trade represents a 24.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Inge G. Thulin bought 2,833 shares of the business’s stock in a transaction that occurred 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 completion of the purchase, the director now directly owns 2,933 shares in the company, valued at $258,837.25. The trade was a 2,833.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.

Merck & Co., Inc. Profile

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.