7 Best Dialysis and Kidney Disease Stocks to Buy

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

Number of Hedge Fund Holders: 96 

Merck & Co., Inc (NYSE:MRK) is a prominent pharmaceutical company in the United States that focuses on both human and animal health. It has become a favored investment choice, boasting high returns, having achieved over 72% growth in the past five years. This success is largely attributed to the strong performance of its immunotherapy drug, Keytruda, which is a standard treatment for several types of cancer.

Keytruda has been a significant asset for Merck & Co., Inc. (NYSE:MRK), generating $26.3 billion in sales last year and accounting for about 50% of its pharmaceutical business. In Q2, sales of Keytruda rose 16% year-over-year to $7.3 billion, contributing to the company’s total sales of $16.1 billion. In December 2023, the US Food and Drug Administration approved Merck’s drug belzutifan for a type of kidney cancer, expanding treatment options for patients with this condition. The company’s researchers have worked with institutions like the Chronic Disease Research Group at Hennepin Healthcare Research Institute to analyze large datasets and gain insights into kidney disease outcomes.

Merck & Co., Inc (NYSE:MRK) recently received FDA approval for a new pneumococcal conjugate vaccine for adults and launched another vaccine for pulmonary arterial hypertension, which generated over $70 million in sales from its approval in March to August, coinciding with the announcement of Q2 results.

As of Q2 2024. 96 hedge funds tracked by Insider Monkey held stakes in the stock with Fisher Asset Management being the largest stakeholder with shares worth $1,766,132,800. The stock holds a Strong Buy rating. 18 Wall Street analysts have set a 12-month price target for Merck & Company, with an average target of $140.31. Forecasts range from a high of $155.00 to a low of $125.00, indicating a 21.34% increase from the current price of $115.63.