Organon & Co. (NYSE:OGN) Given Average Rating of "Moderate Buy" by Brokerages

Organon & Co. (NYSE:OGN - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $18.00.

A number of equities analysts have recently issued reports on the stock. Morgan Stanley dropped their price objective on shares of Organon & Co. from $15.00 to $10.00 and set an "equal weight" rating on the stock in a research note on Monday, May 5th. BNP Paribas upgraded shares of Organon & Co. to a "strong-buy" rating in a research note on Thursday, May 22nd. Evercore ISI downgraded shares of Organon & Co. from an "outperform" rating to an "inline" rating in a research note on Friday, May 2nd. Finally, Piper Sandler lowered their target price on shares of Organon & Co. from $24.00 to $18.00 and set an "overweight" rating for the company in a research note on Thursday, May 15th.

Insider Buying and Selling at Organon & Co.

In related news, CEO Kevin Ali purchased 34,000 shares of the firm's stock in a transaction on Monday, May 5th. The stock was acquired at an average price of $8.80 per share, with a total value of $299,200.00. Following the completion of the acquisition, the chief executive officer now owns 282,731 shares in the company, valued at approximately $2,488,032.80. This represents a 13.67% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Matthew M. Walsh purchased 11,400 shares of the firm's stock in a transaction on Monday, May 5th. The stock was bought at an average cost of $8.82 per share, with a total value of $100,548.00. Following the acquisition, the chief financial officer now owns 144,484 shares of the company's stock, valued at approximately $1,274,348.88. The trade was a 8.57% increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 102,345 shares of company stock worth $902,430 over the last three months. Corporate insiders own 1.96% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in OGN. Millstone Evans Group LLC purchased a new position in shares of Organon & Co. in the fourth quarter worth $29,000. Ransom Advisory Ltd purchased a new position in shares of Organon & Co. in the first quarter worth $32,000. Larson Financial Group LLC raised its holdings in shares of Organon & Co. by 345.4% in the fourth quarter. Larson Financial Group LLC now owns 2,236 shares of the company's stock worth $33,000 after buying an additional 1,734 shares during the last quarter. Riverview Trust Co raised its holdings in shares of Organon & Co. by 117.7% in the fourth quarter. Riverview Trust Co now owns 2,390 shares of the company's stock worth $36,000 after buying an additional 1,292 shares during the last quarter. Finally, GeoWealth Management LLC purchased a new position in shares of Organon & Co. in the fourth quarter worth $41,000. Hedge funds and other institutional investors own 77.43% of the company's stock.

Organon & Co. Price Performance

NYSE OGN opened at $9.89 on Thursday. The company has a debt-to-equity ratio of 16.49, a quick ratio of 1.15 and a current ratio of 1.67. The firm's 50 day moving average price is $9.94 and its 200-day moving average price is $13.31. Organon & Co. has a 52-week low of $8.01 and a 52-week high of $23.10. The company has a market cap of $2.57 billion, a PE ratio of 3.43, a P/E/G ratio of 1.03 and a beta of 0.58.

Organon & Co. (NYSE:OGN - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $1.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $0.13. Organon & Co. had a net margin of 11.92% and a return on equity of 227.43%. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period last year, the firm earned $1.22 earnings per share. The company's quarterly revenue was down 6.7% on a year-over-year basis. Sell-side analysts forecast that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Shareholders of record on Monday, May 12th were paid a $0.02 dividend. The ex-dividend date was Monday, May 12th. This represents a $0.08 annualized dividend and a yield of 0.81%. Organon & Co.'s dividend payout ratio (DPR) is 2.78%.

About Organon & Co.

Organon & Co is a science based global pharmaceutical company, which develops and delivers innovative health solutions through a portfolio of prescription therapies within women's health, biosimilars and established brands. The company was founded on March 11, 2020, and is headquartered in Jersey City, NJ.

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