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| DON'T BUY | 50.120 | Brian Acker, CA | Model price is $48.07, a negative 7.5% differential. | 2007-07-27 | |
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| PAST TOP PICK | 44.290 | David Burrows | (A Top Pick Sept 13/06. Up 7.3%.) Pharmaceutical stocks fit in the theme of large cap capital growth. Expect this to be a good stock this year without a lot of risk. | 2007-01-08 | |
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| TOP PICK | 44.490 | David Burrows | The company went through a lot of bad news over the last four months but in the last 3 quarters there has been a re-acceleration in their growth rate. Trades at a very reasonable multiple. | 2006-10-19 | |
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| WEAK BUY | 43.760 | John Zechner | Likes the sector. The names have been incredibly punished in the last few years. They still look cheap. This one had additional problems with Viox, but is recovering nicely. Wouldn't be his first pick. | 2006-10-16 | |
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| BUY | 39.270 | Norman Levine | All the major drug stocks are starting to act better. In this type of market, money moves from risky stocks to defensive stocks. A good place to be. | 2006-07-25 | |
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| BUY | 33.490 | David Taylor, MBA, CFA | Great dividend yield. Probably one of the worst performing sectors in the S&P. Lots of cost cutting opportunities. Trading at around 8/9 X earnings. Pristine balance sheet. | 2006-06-14 | |
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| DON'T BUY | 34.600 | Norman Levine | Prefers Pfizer which has been doing more things correctly. | 2006-04-27 | |
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| HOLD | 36.200 | David Burrows | This is a sector that he has avoided as they have had three years of poor experience. In the last 3/4 months, pharmaceuticals have started to wake up. This will not be the fastest growing area and this one will plod along. | 2006-03-23 | |
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| BUY | 33.820 | Jim O'Shaughnessy | Big pharmas have had a really tough go. He can now see them coming back. A good selection for a conservative, patient investor. | 2006-02-02 | |
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| DON'T BUY | 32.780 | Bruce Campbell | Has a lot of lawsuits overhanging it. Would not own it at this point. | 2006-01-24 | |
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| PAST TOP PICK | 31.990 | David Taylor, MBA, CFA | (A Top Pick Aug 29/05. Up 14%.) Loves this name. An absolute steal. Facing class action lawsuits. This is what a value manager wants. A great company with a ton of free cash flow, strong dividend, pristine balance sheet and everybody hates. | 2005-12-20 | |
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| DON'T BUY | 28.900 | Ross Healy | Too early, particularly if the US has a recession. If we get into a recession, it will be a consumer led recession, there’s going to be humongous pressures by consumers and seniors on drugs for some of the egregious profits they have been making. | 2005-12-13 | |
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| DON'T BUY | 27.600 | James Cole, BA, CFA | Drug stars such as Pfizer (PFE-N) Merck (MRK-N), etc. are attractively valued but are clearly out of favour. They have great long term track records and are in strong financial positions, however, there is a lack of predictability regarding the science. Doesn't like the cash flow dynamics where they spend billions up front with no sure win ahead. Litigation risks. | 2005-09-22 | |
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| BUY | 29.190 | Brian Acker, CA | Pays a 5.5% dividend. If you have good fundamentals plus a dividend yield, you should do OK. | 2005-09-07 | |
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| DON'T BUY | 28.230 | Brad Willock | Has a pretty decent pipeline of new products. Current dividend yield is very high. You have to be prepared to ride out the storm of litigations, but could come out nicely. Very risky. | 2005-08-31 | |
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| TOP PICK | 28.290 | David Taylor, MBA, CFA | Up to their necks in litigation. They've lost $30 billion in market cap because an anti-inflammatory has been pulled off the shelf due to heart attack risks. Just lost a $230 million lawsuit which will be reversed on appeal. Only trading at 9 X earnings. Have a ton of cash and generate a ton of free cash flow. 5.5% dividend yield. Very cheap. | 2005-08-29 | |
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| DON'T BUY | 34.420 | David Burrows | Pharmaceutical sector did very poorly over the last 2 years, but deceleration in revenue growth has slowed and profitability has started to improve. Look for the strongest perfoming stock in the sector. As Eli Lilly (LLY-N) is performing better, that would be the better of the 2, but would suggest you look at Sanofi-Aventis (SNY-N) which is close to new highs and Teva Pharmaceuticals (TEVA-Q) in generics. | 2005-05-03 | |
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| BUY | 33.920 | David Taylor, MBA, CFA | Pharmaceutical stocks in the US have been absolutely decimated. Dirt cheap. Generates a ton of free cash flow. | 2005-04-25 | |
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| BUY | 31.760 | Paul Harris, CFA | An equally good stock as Pfizer (PFE-N) at these levels. 4.5% yield. Always have good products. Going through a difficult spell right now. | 2005-03-28 | |
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| BUY | 31.210 | Brian Acker, CA | Great valuation and a good entry point. | 2005-02-22 | |
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| DON'T BUY | 32.610 | Andrew McCreath | Would prefer Pfizer (PFE-N) which has a far superior pipeline. | 2005-02-18 | |
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| BUY | 29.850 | Paul Harris, CFA | Big issue has been VIOXX. Very convoluted over the near term as to what will happen. Don't know what the legal issues will be. There could be more bad news from previous users of the drug. Have lots of money. Trades at almost 20% discount to the peer group. Nearly 5% yield. Has room for upside. Won't be an easy road. | 2005-01-24 | |
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| WEAK BUY | 31.300 | Brian Acker, CA | Thinks it's going to be very tough to legally get this company with VIOXX. They have it as the 11th position in their portfolio. Model price is $38. Prefers Pfizer which has a bigger upside. | 2005-01-18 | |
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| WEAK BUY | 31.790 | Paul Harris, CFA | Feels they should have re-labelled rather than pulling Vioxx so that people would know how to use them properly. A huge number of lawsuits they could face down the road. Didn't grow by acquisition, so their pipeline looks a bit murky. A great company and will be around for a long time. | 2004-12-16 | |
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| DON'T BUY | 28.740 | David Burrows | Companies like Pfizer and Merck have been coming apart for quite awhile. Growth rate has gone from 30% to low single digits. When this happens, the P/E has to contract. There are more sellers than buyers. One of the few that is doing better is Schering AG. Growth rate is accelerating and have a good line up of drugs. | 2004-12-10 | |
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| DON'T BUY | 27.720 | Ross Healy | Facing a large number of large and messy law suits. | 2004-12-01 | |
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| WEAK BUY | 27.720 | Brian Acker, CA | Mispriced. Expects that down the road Vioxx will come back. | 2004-11-30 | |
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| DON'T BUY | 27.670 | Norman Levine | A cockroach company with one problem after another coming out of the woodwork. | 2004-11-29 | |
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| DON'T BUY | 27.480 | Ron Meisels | In 2002, 2003 and early 2004 the chart looked like it was going to hold, but then collapsed. A broken down stock. Usually takes a significant amount of time for the news to be absorbed. | 2004-11-16 | |
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| DON'T BUY | 26.150 | Bob Stodgell | More aggressive than what they would want. A number of outstanding issues regarding litigation would keep the top executives eyes off running the business. Prefers Pfizer. | 2004-11-11 | |
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| DON'T BUY | 26.410 | Brad Willock | Market is pricing in $20/25 million for class action law suits, but it could be more. Would need a tremendous amount of earnings growth to reach what people are expecting and this is unlikeley. High dividend yield. No longer a safe story. | 2004-11-10 | |
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| PAST TOP PICK | 27.870 | Ray Steele | (A Top Pick July 12/04. Down 40%.) Sold out before the big drop. | 2004-11-03 | |
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| BUY | 31.220 | John Zechner | Pharmaceuticals are cheaper than he has ever seen them. Cheap. Trading at low multiples. | 2004-10-27 | |
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| DON'T BUY | 30.190 | Glenn Paradis, BA, CFA | Took a tremendous hit with their withdrawal of Vioxx. Buying it now would be bottom fishing. A lot of issues going on in the pharma sector now. Weak pipeline. | 2004-10-14 | |
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| DON'T BUY | 33.430 | Don Reed | Has declined because of a recall of one of their drugs. Will probably have a bounce. | 2004-10-05 | |
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| PAST TOP PICK | 45.770 | Bill Carrigan | (A Top Pick Apr 28/04. Down 4%.) Had bought for the wrong reasons. Bought at the top of a cycle as a defensive play. Don't buy. | 2004-09-14 | |
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| TOP PICK | 45.410 | Ray Steele | Dividend yield is very attractive. You pay very little for the upside. | 2004-07-12 | |
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| TOP PICK | 48.360 | Francis Gannon | Yield is over 3%. Trading around 15 X next year's earnings. | 2004-06-18 | |
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| TOP PICK | 47.440 | Bill Carrigan | This late in the cycle, look for stocks that are large, overlooked and underowned. Had a low in 2002 and a higher low at the end of 2003 in a downtrend, still expects to see money going to this group. | 2004-04-28 | |
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| WEAK BUY | 46.740 | Glenn Paradis, BA, CFA | Have more patent issues than the majority of the big pharmas. Not a lot of catalysts. If you are a real long-term, patient investor, not a bad buy. | 2004-04-22 | |
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| BUY | 46.500 | Norman Levine | Big pharma stocks should do well in this market. Historically, they do well when rates start to move up. | 2004-04-21 | |
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| DON'T BUY | 44.390 | Ron Meisels | Still under a major downtrend line. Trying to find a base. | 2004-03-17 | |
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| TOP PICK | 48.080 | Francis Gannon | A quiet stock in that not many people are expecting much from them, 7/8% growth this year but you do get a nice 3%+ dividend yield while you wait. Trades at about 15 X earnings. Has a new cholesterol drug coming out this year. | 2004-02-27 | |
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| BUY | 47.770 | Gavin Graham | Has had problems with patent expiry's and drugs in its channel. Gives a 3% dividend yield. Continues to like. | 2004-01-06 | |
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| TOP PICK | 44.770 | Peter Arender, CFA | trading at significantly less than fair value. Bad news on drug development. Dividends at 3.3% | 2003-12-23 | |
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| DON'T BUY | 43.070 | Brad Willock | Have had tremendous issues. They had to stop production on a couple of drugs that were being tested. Virtually no revenue or earnings coming. | 2003-12-05 | |
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| DON'T BUY | 43.630 | David Burrows | When the stock is not participating in a bull market, steer clear. A strong Company and well financed with good products but there is no real excitement. If the market rolls over, it would get hit hard. | 2003-12-03 | |
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| BUY | 45.800 | John Zechner | Likes some of the major pharmaceuticals at these levels. Very cheap. Buy and hold. | 2003-11-13 | |
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| STRONG BUY | 43.870 | Peter Arender, CFA | A fantastic time to be buying this stock. If the pharmaceutical industry reverts to anything near normal, this is a huge screaming buy. | 2003-11-11 | |
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| BUY | 43.600 | Gavin Graham | Missed its numbers. Demographics for drugs looks great. At a great price. | 2003-11-06 | |
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| DON'T BUY | 50.680 | Brad Willock | Not a fan. They don't have a very strong pipeline of promising drugs. Present drugs are facing competition from generics. | 2003-09-03 | |
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| TOP PICK | 53.510 | Peter Arender, CFA | Trading at a significant discount.Has been getting left behind. | 2003-08-05 | |
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| PAST TOP PICK | 57.890 | Laura Wallace | (Was a top pick on May 21/03. Up 4.4%.) Still likes. Offers good value. | 2003-07-23 | |
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| TOP PICK | 55.730 | John Sinkins, CFA | 2.5% dividend. Big name products. Only 14/15 X next years earnings. Recent studies suggest that some of their drugs may also be useful in preventing cancer. | 2003-06-02 | |
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| TOP PICK | 55.380 | Laura Wallace | Trading at 16 X earnings, yielding 2.6%. Great pipeline of new drugs. Great balance sheet. | 2003-05-21 | |
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| BUY | 54.650 | Peter Arender, CFA | Good price. Good earnings price momentum. | 2003-03-24 | |
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| TOP PICK | 54.850 | Peter Arender, CFA | Health care sector is a good sector. 15/16 PE. Good price. | 2003-02-04 | |
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| WEAK BUY | 58.250 | Glenn Paradis, BA, CFA | Some of their drugs have come off patent and they are having difficulty with Research /Development productivity. Prefers Pfizer. | 2003-01-02 | |
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| TOP PICK | 46.950 | John Sinkins, CFA | Pharmaceuticals look good in any upturn. 3% dividend. Trading at 15 X earnings. Had no earnings growth this year. | 2002-10-02 | |
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| BUY | 47.700 | Laura Wallace | Demographics for pharmaceuticals is good. Could be volatile during their election period. Good long term. | 2002-09-25 | |
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| BUY | 49.130 | Brian Acker, CA | Likes the valuations. Good balance sheet and good earnings. | 2002-09-04 | |
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| BUY | 50.640 | Ray Steele | Outlook for drug companies is good. A bit expensve, but long term is good. | 2002-08-20 | |
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| BUY | 53.200 | John Zechner | Sector has been hit hard. At a good level. Prefers Pfizer. | 2002-06-06 | |
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| PAST TOP PICK | 55.760 | John Sinkins, CFA | (Was a top pick on Apr 4 up 1.5%) Still likes. | 2002-05-09 | |
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| DON'T BUY | 56.520 | Michelle Calpin | Very reasonable valuation. Patents are coming off. Prefers Pfizer. | 2002-04-22 | |
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| DON'T BUY | 56.940 | Brad Willock | Fairly cheap. Dividend. Several drugs coming off patent. | 2002-04-19 | |
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| BUY | 54.530 | Neil Murdock | At a 5 year low. Have some good products. At a good price. | 2002-04-15 | |
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| WEAK BUY | 54.000 | David Baskin | Expiring patents have created problems. Pipeline is not as strong as other pharmaceuticals, but the price is very cheap. | 2002-04-12 | |
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| TOP PICK | 58.800 | John Sinkins, CFA | One of the cheapest in the drug sctor. | 2002-04-04 | |
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| DON'T BUY | 62.500 | David Driscoll | Losing a lot of their patents with nothing new in the pipeline. | 2002-03-08 | |
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| WEAK BUY | 61.420 | Brad Willock | No earnings growth this year. Should be some in 2003. At a good price. Prefers J&J or Pfizer. | 2002-02-22 | |
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| DON'T BUY | 58.840 | Brian Acker, CA | Broke through a technical base. Generics are giving some tough competition. | 2002-01-30 | |
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| DON'T BUY | 58.100 | Neil Murdock | A lot of their drugs have come off patent without adequate replacement. Prefers Pfizer. | 2002-01-07 | |
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| WAIT | 58.500 | Glenn Paradis, BA, CFA | Competition. Pipeline is weak now. OK long term. | 2001-12-18 | |
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| DON'T BUY | 66.990 | David Burrows | Pharmaceuticals may be re-establishing themselves for market leadership. Prefers Lily and Abbot | 2001-12-10 | |
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| DON'T BUY | 64.380 | David Burrows | Has been a defensive stock. Overvalued. | 2001-11-12 | |
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| DON'T BUY | 73.900 | Noah Blackstein, B.A., CFA | Patent expiries are a concern. Limited pipeline. Arthritis drug not moving well. Prefers Pfizer. | 2001-06-14 | |
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| BUY | 73.950 | John Sinkins, CFA | Likes both Pfizer and Merck in pharmaceuticals. | 2001-06-06 | |
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| BUY | 75.330 | Ross Healy | Just came off a good technical support. | 2001-06-05 | |
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| BUY | 78.600 | John McColl | Good, but has some patent expiries. | 2001-05-17 | |
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| DON'T BUY | 74.860 | Noah Blackstein, B.A., CFA | Not a fan at this time. Patent expiries coming up. Prefers Pfizer. | 2001-04-25 | |
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| WEAK BUY | 74.150 | Steven Wippersteg | Outlook for health care is good. Maybe a little expensive but a good long term hold. | 2001-03-12 | |
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| BUY | 81.000 | Brendan Caldwell | Have been selling at $90. Prefers Pfizer | 2001-01-30 | |
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| SELL | 83.500 | Noah Blackstein, B.A., CFA | Drugs now coming off patents so future may be weaker | 2001-01-08 | |
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| BUY | 91.938 | Steven Wippersteg | Expect Bush as president will be positive for US drug sector | 2000-12-04 | |
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| BUY | 89.000 | Noah Blackstein, B.A., CFA | lower valuation and better growth than AMD | 2000-10-30 | |
Experts that have talked about Merck & Company
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