SUBSCRIBE

CATEGORIES

Down More Than 8% in the Past Month, Should You Scoop Up Shares of Merck & Co?

imageStock Markets20 minutes ago (Sep 23, 2021 09:30AM ET)

(C) Reuters. Down More Than 8% in the Past Month, Should You Scoop Up Shares of Merck & Co?

Health care company Merck & Co’s (MRK) shares have declined more than 8% in price over the past month. However, the company made several advancements and reported impressive top-line growth across its major segments in the second quarter. So, is it wise to scoop up its shares now? Let’s find out.Shares of established health care company Merck & Co., Inc. (MRK), which is headquartered in Kenilworth, N.J., have lost 8.4% over the past month to close yesterday’s trading session at $72.04, due mainly to investor pessimism around the company not being a frontrunner in the COVID-19 vaccine race. Hedge funds’ interest in the name has remained unchanged from the last quarter. However, the stock has gained 3% in price since its 52-week low of $68.44, which it hit on March 4, 2021.

Furthermore, MRK announced recently that its experimental COVID-19 antiviral treatment, molnupiravir, could get U.S. emergency use authorization before the year-end. The company also said that the COVID-19 pandemic would have a negligible impact on its operating expenses.

MRK expects sales growth to be between 12% to 14% in its fiscal year 2021. The company’s revenue is estimated to be between $46.40 billion and $47.40 billion, and its non-GAAP EPS is expected to be between $5.47 and $5.57 in the current year. So, the stock’s near-term prospects look promising.

Continue reading on StockNews

Down More Than 8% in the Past Month, Should You Scoop Up Shares of Merck & Co?

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.