Stocks
Rep. Salazar Buys Merck Stock Ahead of Quarterly Earnings Report
Representative Maria Elvira Salazar recently made several trades in her UBS IRA account. She bought between $15,001 and $50,000 worth of Merck & Co., Inc. stock on August 19th.
The trade occurred just before a quarterly earnings report from the company, which topped analysts' estimates with ($0.13) earnings per share for the quarter. Revenue was up 5.1% year-over-year to $16.61 billion.
Merck & Co., Inc.'s valuation has been under scrutiny, particularly compared to rival Eli Lilly. Some investors are reassessing whether its pipeline and cash generation justify a premium price tag.