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

by Mike Robinson

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© 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, there were many improvements and impressive top-line growth reported by the company in all its segments for the second quarter. It is wise to grab its shares as soon as possible. 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. The stock’s 52-week low price of $68.44 on March 4, 2021 has seen it rise 3%.

MRK also announced that its COVID-19 experimental antiviral treatment, molnupiravir could be granted an emergency authorization in the United States before year’s end. The COVID-19 pandemic will have negligible effects on the company’s operating expenses, according to MRK.

MRK projects sales growth of between 12%-14% for its fiscal year 2020. 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.

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