The bio-tech sector has seen a flurry of activity centered on Merck & Co., Inc. (NYSE:MRK). There has been significant institutional interest, owning 78% to 79% of the company's stock. The stock has seen some dips, undergoing a fall of 10% in 3 months and 0.63% in certain market movements, sending it near a seven-month low. Despite this, it has also seen rises, including a notable 65% increase and bullish sentiment propelling it up 4.1%. In the last three years, investors have seen notable returns of 63% to 81%. Their popular cancer drug Keytruda has been performing strongly, leading to a 17% YTD increase, but brushes competition from SMMT's cancer drug. Further, it received its first FDA approval for mesothelioma but faced an FDA rejection as well.
With earnings trending downwards over the past three years, it still beat Q2 earnings and sales estimates. However, following a cut to profit guidance, some significant share selling by insiders was reported. The firm’s stock also dipped after a lowered adjusted EPS guidance. Yet, it's considered a top defensive stock and shows potential as a dividend stock by some hedge funds and analysts.
Merck Stocks MRK News Analytics from Mon, 08 Jan 2024 08:00:00 GMT to Sun, 22 Sep 2024 12:55:10 GMT - Rating 3 - Innovation 6 - Information 9 - Rumor -4