5 Best Low Beta Stocks to Buy

3. Merck & Co., Inc. (NYSE:MRK)

No. of Hedge Fund Holders: 82

Merck & Co., Inc. (NYSE:MRK) is an American multinational pharmaceutical company. The company develops and produces medicines, vaccines, biologic therapies and animal health products. It focuses on becoming premier research-intensive biopharmaceutical company.

The company ranks 3^rd on our list of 11 Best Low Beta Stocks to Buy.

Merck & Co., Inc. (NYSE:MRK) and Imago BioSciences, Inc. (NASDAQ:IMGO) announced that they have entered into a definitive agreement as per which former’s subsidiary will acquire the latter for $36.00 per share in cash for an approximate total equity value of $1.35 billion.

The company has posted worldwide sales of $15.0 billion in Q3 2022, exhibiting 14% improvement year-over-year. Results of the company stemmed from sustained strong business momentum in critical growth enablers and investment and progress in pipeline. Merck & Co., Inc. (NYSE:MRK) has raised and narrowed expected FY 2022 worldwide sales to $58.5 billion – $59.0 billion, exhibiting full-year growth of 20% – 21%. It has lowered the expected FY 2022 GAAP EPS to $5.68 – $5.73.

At the end of Q3 2022, 82 hedge funds in Insider Monkey’s database were long on Merck & Co., Inc. (NYSE:MRK).

Stock market experts believe that the company has huge growth potential given their current line-up of blockbuster drug Keytruda, Gardasil, Bridion and possible future drugs that can come either through their pipeline or acquisitions.

Carillon Tower Advisers released its second quarter 2022 investor letter in which it mentioned Merck & Co., Inc. (NYSE:MRK). Here is what it has to say:

“Merck & Co., Inc. (NYSE:MRK) reported a strong first quarter and raised its financial guidance for 2022. The company also continues to benefit from the recent rotation into pharmaceuticals, which historically has been a more defensive industry.”