Organon & Co. (NYSE:OGN) Given Consensus Recommendation of "Reduce" by Brokerages

Key Points

• Analyst sentiment is cautious: Organon & Co. has a consensus “Reduce” rating, with two sell ratings and five hold ratings. The average 12-month price target is $11.40, below the recent share price of $13.70.
• Institutional investors and hedge funds own 77.43% of the company, with several firms recently acquiring or increasing their positions.
• Organon’s stock is near its 52-week high of $13.78, while the company pays a quarterly dividend of $0.02 per share, equivalent to a 0.6% annual yield.

Organon & Co. (NYSE:OGN - Get Free Report) has earned an average recommendation of "Reduce" from the seven research firms that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $11.40.

Separately, Weiss Ratings downgraded Organon & Co. from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, August 3rd.

Institutional Investors Weigh In On Organon & Co.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Kahn Brothers Group Inc. acquired a new position in shares of Organon & Co. during the second quarter worth $36,159,000. Private Management Group Inc. raised its position in shares of Organon & Co. by 38.3% during the 4th quarter. Private Management Group Inc. now owns 4,347,073 shares of the company's stock worth $31,169,000 after acquiring an additional 1,204,979 shares in the last quarter. First Trust Advisors LP lifted its stake in Organon & Co. by 78.1% during the first quarter. First Trust Advisors LP now owns 3,227,320 shares of the company's stock worth $19,332,000 after purchasing an additional 1,415,239 shares during the last quarter. Groupe la Francaise acquired a new position in Organon & Co. in the second quarter valued at approximately $10,499,000. Finally, Absolute Gestao de Investimentos Ltda. acquired a new stake in Organon & Co. during the 2nd quarter worth $9,007,000. 77.43% of the stock is currently owned by institutional investors and hedge funds.

Organon & Co. Stock Up 0.0%

NYSE OGN traded up $0.01 during trading hours on Friday, hitting $13.70. 342,617 shares of the company were exchanged, compared to its average volume of 5,482,409. The company has a quick ratio of 1.44, a current ratio of 1.95 and a debt-to-equity ratio of 8.43. The firm has a market cap of $3.60 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 1.27 and a beta of 1.52. The company has a 50 day moving average of $13.64 and a two-hundred day moving average of $11.72. Organon & Co. has a 52-week low of $5.69 and a 52-week high of $13.78.

Organon & Co. Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Friday, August 14th were issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.6%. The ex-dividend date was Friday, August 14th. Organon & Co.'s payout ratio is 10.39%.

Organon & Co. Company Profile

Organon & Co is a global healthcare company focused on improving the health and well-being of women throughout their lives. Its women's health portfolio includes contraceptive products such as Nexplanon and NuvaRing, as well as fertility treatments and medicines used in reproductive health.

The company also markets biosimilars and a portfolio of established medicines across areas including cardiovascular disease, respiratory conditions, dermatology, pain management and allergy. Its products are distributed in markets around the world, with a particular focus on expanding access to medicines in international and emerging markets.

Organon was established as an independent company through a spin-off from Merck & Co in June 2021.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.