Bernstein Gives Merck a ‘Market Perform’ Rating Amid Mixed Fund Sentiment

Overview of Fund Positions

On October 17, 2024, Bernstein initiated coverage of Merck (SNSE:MRK), assigning a Market Perform rating. Interest in the pharmaceutical giant remains strong, with 5,087 funds or institutions reporting positions in Merck—an increase of 28 funds, or 0.55%, in the last quarter. The average portfolio weight for all funds dedicated to MRK has reached 0.74%, rising by 10.18%. Over the last three months, total shares held by institutions have grown by 3.55%, amounting to 2,164,637K shares.

Recent Changes Among Major Shareholders

The Vanguard Total Stock Market Index Fund Investor Shares (VTSMX) now holds 80,020K shares, representing 3.16% of Merck. This marks a slight increase from the previous total of 79,658K shares, reflecting a growth of 0.45%. However, the firm’s overall allocation to MRK has decreased by 8.35% over the last quarter.

Wellington Management Group LLP reports holding 72,482K shares, which equals 2.86% ownership. Previously, they owned 86,348K shares, demonstrating a significant drop of 19.13%. Their portfolio allocation in MRK fell dramatically by 88.82% this quarter.

The Vanguard 500 Index Fund Investor Shares (VFINX) holds 65,007K shares, or 2.56% ownership, up from 63,859K shares, which shows a 1.77% increase. Nonetheless, this fund also reduced its allocation in MRK by 9.59% recently.

Geode Capital Management has 57,021K shares, representing 2.25% ownership. Their previous amount was 56,411K shares, an increase of 1.07%, but they cut back their portfolio allocation in MRK by 53.01% in the last quarter.

Bank of America owns 39,280K shares, equating to 1.55% ownership. They reported an increase from 36,012K shares, reflecting an 8.32% rise, yet their allocation in MRK has significantly decreased by 76.01% over the last quarter.

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This article originally appeared on Fintel, providing a concise overview of current fund activities related to Merck.

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