Opinions Matt Kacur
Merck & CompanyMRKBUYAug 06, 2025
Matt KacurStock price when the opinion was issued
As of Jun 09, 2026. Market Open.
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Today's downward move isn't all that outsized. There's been more clarity on US drug pricing. Seeing a bit of market exhaustion, as US pharma is trading at huge premiums relative to their own history.
Rerating from pricing clarity has already been baked in. R&D pipeline in the sector is a mixed bag, doesn't trust it.
He bought it for their strong drug pipeline and is happy to stay here.
Gordon ReidOne of her holdings in the space. This higher-quality name has both growth and less execution risk.
Brianne Gardner
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Pharmas are coming back. Political policy is improving. Keytruda makes up a lot of revenues but faces a patent cliff in 2028. But MRK has invested a lot in new drugs and been buying companies strategically.
(Analysts’ price target is $123.89)
Julien Nono-WomdimPremium content
They have a good pipeline that will help offset the loss of their major Keytruda drug when it goes off-patent. MRK is good at buying and tucking in companies. Their 2025 chart wasn't that great until the end of the year when the sector caught a bid.
Gordon Reid
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Whole sector's been problematic, so this name could be just caught up in that downdraft. Fundamentally looks pretty good. Could be an opportunity. ROC last few years has been 7%, 9%, 9%, 10%, 11%. Nothing wrong with those numbers. Pretty clean balance sheet, decent working capital position.
Revenue growth last quarter down 1.6%. Before that, it usually ran around a positive 6-7%. Yield is 3.9%, chart looks great as they keep bumping it up once a year -- cashflow and payout ratio to support that look really healthy.