Organon & Co. (NYSE:OGN) Sets New 12-Month Low After Analyst Downgrade

Organon & Co. (NYSE:OGN - Get Free Report) shares reached a new 52-week low during trading on Thursday after Morgan Stanley lowered their price target on the stock from $16.00 to $15.00. Morgan Stanley currently has an equal weight rating on the stock. Organon & Co. traded as low as $11.05 and last traded at $12.60, with a volume of 7089168 shares changing hands. The stock had previously closed at $11.65.

Other equities analysts have also issued research reports about the company. Barclays decreased their price target on Organon & Co. from $26.00 to $24.00 and set an "overweight" rating on the stock in a research note on Friday, February 14th. TD Cowen raised shares of Organon & Co. to a "hold" rating in a research report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $20.60.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of OGN. Vanguard Group Inc. boosted its holdings in Organon & Co. by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 30,401,709 shares of the company's stock valued at $453,593,000 after acquiring an additional 218,165 shares during the period. Pacer Advisors Inc. lifted its position in shares of Organon & Co. by 94,482.1% during the fourth quarter. Pacer Advisors Inc. now owns 11,152,179 shares of the company's stock worth $166,391,000 after purchasing an additional 11,140,388 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Organon & Co. by 1.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 9,895,067 shares of the company's stock valued at $147,634,000 after purchasing an additional 136,760 shares during the period. LSV Asset Management boosted its position in Organon & Co. by 0.4% in the 4th quarter. LSV Asset Management now owns 7,525,076 shares of the company's stock valued at $112,274,000 after buying an additional 30,557 shares during the period. Finally, Deprince Race & Zollo Inc. grew its stake in shares of Organon & Co. by 7.0% in the fourth quarter. Deprince Race & Zollo Inc. now owns 4,729,258 shares of the company's stock worth $70,561,000 after acquiring an additional 308,267 shares in the last quarter. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

Organon & Co. Stock Down 2.1 %

The business has a 50-day moving average price of $14.48 and a two-hundred day moving average price of $15.56. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73. The firm has a market cap of $2.85 billion, a PE ratio of 3.32, a price-to-earnings-growth ratio of 0.90 and a beta of 0.73.

Organon & Co. (NYSE:OGN - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported $0.83 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.09). The company had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.57 billion. Organon & Co. had a return on equity of 431.62% and a net margin of 13.49%. On average, equities research analysts expect that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Monday, February 24th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 10.12%. Organon & Co.'s payout ratio is 33.63%.

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.