Why Is Merck's Stock Trading Lower Today?
Merck & Co (NYSE:MRK) shares are trading lower after the company reported worse-than-expected EPS and sales results.
Merck reported quarterly earnings of $1.40 per share, which missed the analyst consensus estimate of $1.63. The company reported quarterly sales of $12.08 billion, which missed the analyst consensus estimate of $12.66 billion.
"While our results this quarter were impacted by the pandemic, the underlying demand for our innovative products remains strong and we remain confident in our future growth prospects," said Kenneth C. Frazier, chairman and CEO, Merck.
Merck makes pharmaceutical products to treat several conditions in a number of therapeutic areas, including cardiometabolic disease, cancer, and infections.
The stock was trading 5.4% lower at $72.93 at the time of writing. The stock has a 52-week high of $87.80 and a 52-week low of $71.72.
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