Merck KGaA (OTCMKTS:MKGAF) Shares Down 6% – Here’s Why

Shares of Merck KGaA (OTCMKTS:MKGAF) dropped 6% during trading on Wednesday. The stock traded as low as $154.1260 and last traded at $154.1260. Approximately 76 shares changed hands during trading, a decline of 88% from the average daily volume of 632 shares. The stock had previously closed at $163.94.

Merck KGaA Price Performance

The company’s fifty day moving average price is $161.35 and its two-hundred day moving average price is $151.18. The company has a quick ratio of 0.84, a current ratio of 1.31 and a debt-to-equity ratio of 0.27. The company has a market cap of $20.31 billion, a price-to-earnings ratio of 23.99 and a beta of 0.96.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MKGAF. Elefante Mark B bought a new stake in Merck KGaA in the 2nd quarter valued at approximately $617,000. Ames National Corp bought a new stake in shares of Merck KGaA in the second quarter worth $1,009,000. Notis McConarty Edward bought a new stake in shares of Merck KGaA in the second quarter worth $1,304,000. North Star Asset Management Inc. acquired a new position in Merck KGaA during the second quarter worth $1,411,000. Finally, Pinnacle Holdings LLC bought a new position in Merck KGaA in the second quarter valued at $1,487,000. 0.10% of the stock is currently owned by institutional investors.

About Merck KGaA

Merck KGaA is a Germany-based science and technology company headquartered in Darmstadt. Founded in 1668, it is one of the world’s oldest operating pharmaceutical and chemical companies. Merck KGaA is separate from the U.S.-based Merck & Co, Inc, although the two companies share historical roots.

The company operates through three business sectors: Life Science, Healthcare and Electronics. Its Life Science business supplies laboratory products, research tools, chemicals and bioprocessing technologies used by pharmaceutical, biotechnology and academic customers.