Inge G. Thulin, a director at Merck (NSE:PROR) & Co., Inc. (NYSE:MRK), recently purchased 2,832.861 shares of the company's common stock. The acquisition, valued at approximately $249,999, was completed at a price of $88.25 per share. Following this transaction, Thulin's total direct ownership in Merck stands at 2,932.861 shares. This move reflects a continued investment in the pharmaceutical giant, known for its extensive portfolio in life sciences. The company maintains strong fundamentals with an "GREAT" Financial Health score from InvestingPro, a P/E ratio of 13, and a notable 3.7% dividend yield, having maintained dividend payments for 55 consecutive years.
In other recent news, Merck & Co has embarked on a pivotal Phase 3 clinical trial for its investigational drug zilovertamab vedotin to treat diffuse large B-cell lymphoma, following positive outcomes from the Phase 2 trial. Meanwhile, BMO Capital Markets has reduced Merck's stock target price to $96, maintaining a Market Perform rating, citing decreased confidence due to shifts in expectations for Merck's Gardasil vaccine. Goldman Sachs has also adjusted Merck's stock price target to $129, but continues to hold a Buy rating, suggesting investors consider Merck's broader portfolio and strategic initiatives.
In a related development, Merck has halted shipments of its Gardasil vaccine to China, leading to a downward adjustment in its total sales forecast for the year. The company now expects to generate between $64.1 billion and $65.6 billion, reflecting the impact of the halt in Gardasil shipments to China.
On a positive note, Merck's pneumococcal vaccine, CAPVAXIVE™, has received a positive recommendation from the European Medicines Agency's Committee for Medicinal Products for Human Use, bringing it closer to potential marketing authorization within the European Union and additional countries. This news comes amidst the company's ongoing commitment to oncology research and the development of medicines to address significant health challenges.
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