5 Best Drug Stocks To Invest In

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

Number of Hedge Fund Holders: 85

Merck & Co., Inc. (NYSE:MRK) is a distinguished American multinational pharmaceutical company headquartered in Rahway, New Jersey. Originally the American division of the Merck Group, established in Germany in 1668, it retains the name of its former parent company. Operating as Merck Sharp & Dohme or MSD outside the United States and Canada, the company holds a prominent position in the pharmaceutical industry, specializing in the development of medicines, vaccines, biologic therapies, and animal health products.

Demonstrating a consistent pattern of dividend growth for 11 consecutive years, the company currently offers a quarterly dividend of $0.73 per share, resulting in a dividend yield of 2.87% as of November 19.

Insider Monkey dug through 910 hedge funds for their third quarter of 2023 investments to discover that 85 had invested in Merck & Co., Inc. (NYSE:MRK), up from 78 in the previous quarter.

Carillon Eagle Growth & Income Fund made the following comment about Merck & Co., Inc. (NYSE:MRK) in its Q2 2023 investor letter:

“Merck & Co., Inc. (NYSE:MRK) presented positive clinical data for a new drug in its oncology pipeline, announced an acquisition that was viewed favorably by investors, and reported strong first-quarter financial results while also increasing its earnings guidance for 2023.”