Markets

Insider Trading

Hedge Funds

Retirement

Opinion

Merck & Co., Inc. (MRK): Among the Best Stocks to Buy for High Returns in 2024

We recently compiled a list of the 8 Best Stocks to Buy for High Returns in 2024. In this article, we are going to take a look at where Merck & Co., Inc. (NYSE:MRK) stands against the other stocks to buy for high returns.

The broader market reached new record highs on October 11, driven by financial stocks posting stronger-than-expected quarterly results. Adding to investor optimism is the recent decline in U.S. inflation, which dropped to 2.4% in September, moving closer to the Federal Reserve’s 2% target. This has fueled hopes of a potential quarter-point rate cut at the Fed’s November meeting. As of October 16, the S&P 500 stood at 5842.47, only eight months after surpassing the 5,000 mark for the first time. Additionally, the September Consumer Price Index revealed a sharper-than-expected rise in consumer prices. However, Omair Sharif, president of Inflation Insights, told Yahoo Finance that while inflation data exceeded expectations, housing inflation is beginning to cool. He also noted a significant decline in food prices since the post-COVID surge, suggesting there are several positive trends to take away from the current market situation.

Adding to that, Carson Group’s chief market strategist, Ryan Detrick, believes the current bull market is still in its early stages, with more gains to come. However, he doesn’t foresee a repeat of the strong returns seen in 2023 and 2024, when the S&P 500 rose 24% and 22%, respectively. Instead, Detrick expects more moderate growth, noting that the average gain for stocks in the third year of a bull market is around 8%, aligning with the typical annual return.

Meanwhile, Jay Woods, chief global strategist at Freedom Capital Markets, highlighted that one of the most striking aspects of the current bull market is how few investors believed in it from the start:

“I think it’s important to preface it with when it started, no one believed it. They just thought it was a bear market rally. And then they doubted that it had legs, and then it was just seven stocks. And now, all of a sudden, it is powerful. And I think the momentum is continuing. You got the rate cycle, you got broadening out, we have wind at our sails, and this bull market should last at least another 12, maybe 18 months.”

On another front, strategists warn that future market gains will hinge on identifying sectors with strong earnings growth. As Artificial Intelligence becomes a key driver of market performance, attention will turn to its impact on profitability across various industries. UBS notes that October has historically been the most volatile month for tech stocks, with the Nasdaq 100 showing an average volatility of 26% in October over the past 40 years, compared to 22% in other months. Given the current geopolitical uncertainties and concerns around export controls, the bank anticipates increased volatility in tech stocks in the near term.

Our Methodology

To compile our list of the best stocks for high returns, we focused on some of the top companies in Insider Monkey’s database that have ana average analyst upside of at least 30%. These companies were then ranked based on their upside potential, in ascending order. We have also mentioned the number of hedge fund investors that held stakes within each company in the second quarter of 2024, out of a total of 912 hedge funds.

At Insider Monkey, we are obsessed with the stocks that hedge funds pile into. The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).

A close-up of a person’s hand holding a bottle of pharmaceuticals.

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

Average Analyst Upside: 32.02%

Number of Hedge Fund Holders: 96

Merck & Co., Inc. (NYSE:MRK), a leading American multinational pharmaceutical firm headquartered in Rahway, New Jersey, has a legacy rooted in the original Merck Group founded in Germany in 1668. Operating internationally under the name Merck Sharp & Dohme (MSD), Merck is renowned for its work in developing pharmaceuticals, vaccines, biologic therapies, and animal health products.

The company’s strong performance was evident in its Q2 2024 earnings, where it surpassed expectations with an EPS of $2.28, exceeding the anticipated $2.17. Total revenue reached $16.1 billion, marking a 7% increase year-over-year, with its human health segment up by 11%.

Barclays reaffirmed its Overweight rating and $140 price target for Merck & Co., Inc. (NYSE:MRK) on October 24, taking note of new data from Arcus Biosciences on its HIF-2α inhibitor, casdatifan. Arcus’s 34% objective response rate (ORR) is seen as competitive to Merck’s own cancer drug, Welireg. However, Merck’s lead is expected to hold, with combination data from its LITESPARK-011 trial expected in early 2026 and first-line data from LITESPARK-012 later that year.

In addition, Merck & Co., Inc. (NYSE:MRK) has received European Commission approval for two new KEYTRUDA regimens for specific gynecologic cancers based on Phase 3 trial results showing improved progression-free and overall survival rates. The company has also acquired Modifi Biosciences, a cancer therapy specialist, in a deal worth up to $1.3 billion to advance new therapies, including KL-50.

Insider Monkey data from Q2 2024 shows that 96 out of 912 hedge funds held shares of Merck & Co., Inc. (NYSE:MRK).

Overall MRK ranks 7th on our list of the best stocks to buy for high returns in 2024. While we acknowledge the potential of MRK as an investment, our conviction lies in the belief that certain AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you’re seeking an AI stock with even more promise than MRK and trading at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: $30 Trillion Opportunity: 15 Best Humanoid Robot Stocks to Buy According to Morgan Stanley and Jim Cramer Says NVIDIA ‘Has Become A Wasteland’.

Disclosure: None. This article is originally published at Insider Monkey.

AI Fire Sale: Insider Monkey’s #1 AI Stock Pick Is On A Steep Discount

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

The whispers are turning into roars.

Artificial intelligence isn’t science fiction anymore.

It’s the revolution reshaping every industry on the planet.

From driverless cars to medical breakthroughs, AI is on the cusp of a global explosion, and savvy investors stand to reap the rewards.

Here’s why this is the prime moment to jump on the AI bandwagon:

Exponential Growth on the Horizon: Forget linear growth – AI is poised for a hockey stick trajectory.

Imagine every sector, from healthcare to finance, infused with superhuman intelligence.

We’re talking disease prediction, hyper-personalized marketing, and automated logistics that streamline everything.

This isn’t a maybe – it’s an inevitability.

Early investors will be the ones positioned to ride the wave of this technological tsunami.

Ground Floor Opportunity: Remember the early days of the internet?

Those who saw the potential of tech giants back then are sitting pretty today.

AI is at a similar inflection point.

We’re not talking about established players – we’re talking about nimble startups with groundbreaking ideas and the potential to become the next Google or Amazon.

This is your chance to get in before the rockets take off!

Disruption is the New Name of the Game: Let’s face it, complacency breeds stagnation.

AI is the ultimate disruptor, and it’s shaking the foundations of traditional industries.

The companies that embrace AI will thrive, while the dinosaurs clinging to outdated methods will be left in the dust.

As an investor, you want to be on the side of the winners, and AI is the winning ticket.

The Talent Pool is Overflowing: The world’s brightest minds are flocking to AI.

From computer scientists to mathematicians, the next generation of innovators is pouring its energy into this field.

This influx of talent guarantees a constant stream of groundbreaking ideas and rapid advancements.

By investing in AI, you’re essentially backing the future.

The future is powered by artificial intelligence, and the time to invest is NOW.

Don’t be a spectator in this technological revolution.

Dive into the AI gold rush and watch your portfolio soar alongside the brightest minds of our generation.

This isn’t just about making money – it’s about being part of the future.

So, buckle up and get ready for the ride of your investment life!

Act Now and Unlock a Potential 10,000% Return: This AI Stock is a Diamond in the Rough (But Our Help is Key!)

The AI revolution is upon us, and savvy investors stand to make a fortune.

But with so many choices, how do you find the hidden gem – the company poised for explosive growth?

That’s where our expertise comes in.

We’ve got the answer, but there’s a twist…

Imagine an AI company so groundbreaking, so far ahead of the curve, that even if its stock price quadrupled today, it would still be considered ridiculously cheap.

That’s the potential you’re looking at. This isn’t just about a decent return – we’re talking about a 10,000% gain over the next decade!

Our research team has identified a hidden gem – an AI company with cutting-edge technology, massive potential, and a current stock price that screams opportunity.

This company boasts the most advanced technology in the AI sector, putting them leagues ahead of competitors.

It’s like having a race car on a go-kart track.

They have a strong possibility of cornering entire markets, becoming the undisputed leader in their field.

Here’s the catch (it’s a good one): To uncover this sleeping giant, you’ll need our exclusive intel.

We want to make sure none of our valued readers miss out on this groundbreaking opportunity!

That’s why we’re slashing the price of our Premium Readership Newsletter by a whopping 70%.

For a ridiculously low price of just $29, you can unlock a year’s worth of in-depth investment research and exclusive insights – that’s less than a single restaurant meal!

Here’s why this is a deal you can’t afford to pass up:

• Access to our Detailed Report on this Game-Changing AI Stock: Our in-depth report dives deep into our #1 AI stock’s groundbreaking technology and massive growth potential.

• 11 New Issues of Our Premium Readership Newsletter: You will also receive 11 new issues and at least one new stock pick per month from our monthly newsletter’s portfolio over the next 12 months. These stocks are handpicked by our research director, Dr. Inan Dogan.

• One free upcoming issue of our 70+ page Quarterly Newsletter: A value of $149

• Bonus Reports: Premium access to members-only fund manager video interviews

• Ad-Free Browsing: Enjoy a year of investment research free from distracting banner and pop-up ads, allowing you to focus on uncovering the next big opportunity.

• 30-Day Money-Back Guarantee:  If you’re not absolutely satisfied with our service, we’ll provide a full refund within 30 days, no questions asked.

 

Space is Limited! Only 1000 spots are available for this exclusive offer. Don’t let this chance slip away – subscribe to our Premium Readership Newsletter today and unlock the potential for a life-changing investment.

Here’s what to do next:

1. Head over to our website and subscribe to our Premium Readership Newsletter for just $29.

2. Enjoy a year of ad-free browsing, exclusive access to our in-depth report on the revolutionary AI company, and the upcoming issues of our Premium Readership Newsletter over the next 12 months.

3. Sit back, relax, and know that you’re backed by our ironclad 30-day money-back guarantee.

Don’t miss out on this incredible opportunity! Subscribe now and take control of your AI investment future!


No worries about auto-renewals! Our 30-Day Money-Back Guarantee applies whether you’re joining us for the first time or renewing your subscription a year later!

A New Dawn is Coming to U.S. Stocks

I work for one of the largest independent financial publishers in the world – representing over 1 million people in 148 countries.

We’re independently funding today’s broadcast to address something on the mind of every investor in America right now…

Should I put my money in Artificial Intelligence?

Here to answer that for us… and give away his No. 1 free AI recommendation… is 50-year Wall Street titan, Marc Chaikin.

Marc’s been a trader, stockbroker, and analyst. He was the head of the options department at a major brokerage firm and is a sought-after expert for CNBC, Fox Business, Barron’s, and Yahoo! Finance…

But what Marc’s most known for is his award-winning stock-rating system. Which determines whether a stock could shoot sky-high in the next three to six months… or come crashing down.

That’s why Marc’s work appears in every Bloomberg and Reuters terminal on the planet…

And is still used by hundreds of banks, hedge funds, and brokerages to track the billions of dollars flowing in and out of stocks each day.

He’s used this system to survive nine bear markets… create three new indices for the Nasdaq… and even predict the brutal bear market of 2022, 90 days in advance.

Click to continue reading…