Why Merck Shares Are Making New 52-Week Highs Today

Merck & Co Inc MRK is trading higher Thursday after the company announced better-than-expected third-quarter financial results. 

Merck reported quarterly earnings of $1.75 per share, which beat the estimate of $1.55 per share. The company reported quarterly revenue of $13.2 billion, which beat the estimate of $12.33 billion.

Merck expects full-year 2021 adjusted earnings to be in a range of $5.65 to $5.70 per share versus the estimate of $5.77 per share. The company expects full-year 2021 revenue to be in a range of $47.4 billion to $47.9 billion versus the estimate of $48.16 billion.

"Looking ahead, we remain focused on building more momentum, delivering on our mission of saving and improving lives and continuing to expand our portfolio and pipeline for long-term success and sustainable value creation," said Robert Davis, president and CEO of Merck.

Merck makes pharmaceutical products to treat several conditions in a number of therapeutic areas, including cardiometabolic disease, cancer and infections.

Related Link: Merck's Q3 Earnings Beat Street View, Revises FY21 Outlook Below Consensus

MRK Price Action: Merck is making new 52-week highs during Thursday's session.

The stock was up 4.98% at $85.60 at time of publication.

Photo: courtesy of Merck.