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

Key Points

• Organon & Co. has been given an average rating of "Moderate Buy" by analysts, with a consensus price target of $18.00.
• The company recently reported earnings of $1.00 per share, surpassing analysts' expectations and generating a revenue of $1.59 billion for the quarter.
• Organon announced a quarterly dividend of $0.02 per share, reflecting an annual yield of 0.9%, with an ex-dividend date set for August 15th.

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

A number of brokerages have weighed in on OGN. BNP Paribas raised Organon & Co. to a "strong-buy" rating in a report on Thursday, May 22nd. Piper Sandler lowered their price objective on Organon & Co. from $24.00 to $18.00 and set an "overweight" rating on the stock in a report on Thursday, May 15th. Evercore ISI lowered Organon & Co. from an "outperform" rating to an "inline" rating in a report on Friday, May 2nd. Finally, Morgan Stanley decreased their price target on 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.

Institutional Investors Weigh In On Organon & Co.

Several institutional investors have recently modified their holdings of the company. Treasurer of the State of North Carolina raised its position in shares of Organon & Co. by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 113,120 shares of the company's stock worth $1,688,000 after purchasing an additional 710 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Organon & Co. by 22.4% during the 2nd quarter. GAMMA Investing LLC now owns 5,645 shares of the company's stock worth $55,000 after purchasing an additional 1,034 shares during the last quarter. SBI Securities Co. Ltd. raised its position in shares of Organon & Co. by 17.6% during the 1st quarter. SBI Securities Co. Ltd. now owns 7,653 shares of the company's stock worth $114,000 after purchasing an additional 1,145 shares during the last quarter. Rafferty Asset Management LLC raised its position in shares of Organon & Co. by 5.6% during the 4th quarter. Rafferty Asset Management LLC now owns 22,627 shares of the company's stock worth $338,000 after purchasing an additional 1,194 shares during the last quarter. Finally, Maryland State Retirement & Pension System raised its position in shares of Organon & Co. by 1.4% during the 2nd quarter. Maryland State Retirement & Pension System now owns 88,420 shares of the company's stock worth $856,000 after purchasing an additional 1,195 shares during the last quarter. Hedge funds and other institutional investors own 77.43% of the company's stock.

Organon & Co. Stock Performance

Shares of NYSE OGN traded down $0.20 during midday trading on Friday, reaching $9.03. 602,113 shares of the company were exchanged, compared to its average volume of 4,503,004. The company has a current ratio of 1.65, a quick ratio of 1.13 and a debt-to-equity ratio of 11.98. Organon & Co. has a 1 year low of $8.01 and a 1 year high of $23.10. The stock has a fifty day simple moving average of $9.77 and a 200 day simple moving average of $11.84. The stock has a market cap of $2.35 billion, a P/E ratio of 3.37, a PEG ratio of 0.96 and a beta of 0.60.

Organon & Co. (NYSE:OGN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $1.00 earnings per share for the quarter, beating analysts' consensus estimates of $0.94 by $0.06. Organon & Co. had a return on equity of 163.88% and a net margin of 11.15%. The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.55 billion. During the same quarter in the previous year, the company earned $1.12 EPS. The firm's revenue for the quarter was down .8% compared to the same quarter last year. On average, research analysts forecast that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Friday, August 15th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.08 annualized dividend and a dividend yield of 0.9%. Organon & Co.'s payout ratio is 2.97%.

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.