Brokerages Set Organon & Co. (NYSE:OGN) PT at $18.00

Organon & Co. (NYSE:OGN - Get Free Report) has received a consensus rating of "Moderate Buy" from the six analysts that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $18.00.

OGN has been the topic of several research reports. Piper Sandler decreased their price objective on shares of Organon & Co. from $24.00 to $18.00 and set an "overweight" rating on the stock in a report on Thursday, May 15th. BNP Paribas upgraded shares of Organon & Co. to a "strong-buy" rating in a report on Thursday, May 22nd. Evercore ISI downgraded shares of Organon & Co. from an "outperform" rating to an "inline" rating in a report on Friday, May 2nd. Finally, Morgan Stanley decreased 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 report on Monday, May 5th.

Insider Buying and Selling at Organon & Co.

In other Organon & Co. news, CEO Kevin Ali bought 34,000 shares of Organon & Co. stock in a transaction dated Monday, May 5th. The stock was bought at an average price of $8.80 per share, with a total value of $299,200.00. Following the completion of the transaction, the chief executive officer owned 282,731 shares in the company, valued at $2,488,032.80. The trade was a 13.67% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Daniel Karp bought 3,500 shares of Organon & Co. stock in a transaction dated Tuesday, May 6th. The stock was acquired at an average cost of $8.24 per share, with a total value of $28,840.00. Following the transaction, the vice president owned 46,669 shares of the company's stock, valued at $384,552.56. This trade represents a 8.11% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders purchased 102,345 shares of company stock worth $902,430. Insiders own 1.96% of the company's stock.

Institutional Investors Weigh In On Organon & Co.

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Organon & Co. by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 30,401,709 shares of the company's stock worth $453,593,000 after purchasing an additional 218,165 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Organon & Co. by 8.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 10,715,445 shares of the company's stock worth $159,553,000 after purchasing an additional 820,378 shares during the period. LSV Asset Management lifted its position in Organon & Co. by 6.1% during the first quarter. LSV Asset Management now owns 7,980,775 shares of the company's stock worth $118,834,000 after purchasing an additional 455,699 shares during the period. Deprince Race & Zollo Inc. lifted its position in Organon & Co. by 7.0% during the fourth quarter. Deprince Race & Zollo Inc. now owns 4,729,258 shares of the company's stock worth $70,561,000 after purchasing an additional 308,267 shares during the period. Finally, Geode Capital Management LLC lifted its position in Organon & Co. by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 4,260,218 shares of the company's stock worth $63,582,000 after purchasing an additional 12,110 shares during the period. Institutional investors own 77.43% of the company's stock.

Organon & Co. Stock Up 0.1%

OGN traded up $0.01 during trading on Monday, reaching $9.64. 3,939,649 shares of the stock were exchanged, compared to its average volume of 3,609,780. The stock has a market cap of $2.51 billion, a P/E ratio of 3.35, a price-to-earnings-growth ratio of 1.00 and a beta of 0.60. Organon & Co. has a twelve month low of $8.01 and a twelve month high of $23.10. The stock's 50 day moving average price is $9.51 and its two-hundred day moving average price is $12.57. The company has a debt-to-equity ratio of 16.49, a quick ratio of 1.15 and a current ratio of 1.67.

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

Organon & Co. Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Monday, May 12th were given a $0.02 dividend. The ex-dividend date was Monday, May 12th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.83%. Organon & Co.'s payout ratio is presently 2.78%.

Organon & Co. Company Profile

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.