Reasons for the Rise of Merck & Co. (MRK) in Q2

Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Growth & Income Fund” Q2 2023 investor letter. A copy of the same can be downloaded here. The S&P Index closed the quarter with a gain of 8.7%, which made the first half of the year’s return rose 16%. These gains suggest steady growth, but the reality is much more mixed. Macroeconomic fears still exist in the market. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Carillon Eagle Growth & Income Fund highlighted stocks like Merck & Co., Inc. (NYSE:MRK) in the second quarter 2023 investor letter. Headquartered in Rahway, New Jersey, Merck & Co., Inc. (NYSE:MRK) is a healthcare company that operates through Pharmaceutical and Animal Health. On September 8, 2023, Merck & Co., Inc. (NYSE:MRK) stock closed at $109.05 per share. One-month return of Merck & Co., Inc. (NYSE:MRK) was 0.13%, and its shares gained 23.70% of their value over the last 52 weeks. Merck & Co., Inc. (NYSE:MRK) has a market capitalization of $276.717 billion.

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.

Merck & Co., Inc. (NYSE:MRK) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 78 hedge fund portfolios held Merck & Co., Inc. (NYSE:MRK) at the end of second quarter which was 75 in the previous quarter.

We discussed Merck & Co., Inc. (NYSE:MRK) in another article and shared the list of stocks to buy with steady dividends. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.

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