5 Best Stocks To Buy For A Weak US Dollar

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

Number of Hedge Fund Holders: 79

Merck & Co., Inc. (NYSE:MRK) is a pharmaceutical company that sells drugs for cancer, neurological disorders, and cardiovascular diseases among others. The company is headquartered in Kenilworth, New Jersey, the United States.

Merck & Co., Inc. (NYSE:MRK)’s revenue for the first six months of this year equaled $30.5 billion, and out of this, the U.S. accounted for less than half of the pie, with a 44% share. The company has been on a strong run this year, as not only did it grow its revenue in the first half, but its third fiscal quarter results marked the 14th time that it has beaten analyst estimates. Revenues in the latest quarter were equal to $15 billion as they grew 14% annually, and its Keytruda cancer drug accounted for more than one third of the sales by bringing in $5.3 billion.

Merck & Co., Inc. (NYSE:MRK) has also been a resilient healthcare stock this year, as its shares are up by a remarkable 31% year to date. The firm pays a 69 cent dividend for a 2.74% yield, and 79 out of the 895 hedge funds polled by Insider Monkey for their Q2 2022 investments had bought the company’s shares.

Out of these, Ken Fisher’s Fisher Asset Management is Merck & Co., Inc. (NYSE:MRK)’s largest shareholder. It owns 12 million shares that are worth $1.1 billion.

Carillon Tower Advisers mentioned the company in its Q2 2022 investor letter. Here is what the fund said:

“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.”