Organon & Co. (NYSE:OGN) Price Target Cut to $10.00 by Analysts at Morgan Stanley

Organon & Co. (NYSE:OGN - Get Free Report) had its target price dropped by analysts at Morgan Stanley from $15.00 to $10.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an "equal weight" rating on the stock. Morgan Stanley's price target would indicate a potential upside of 12.93% from the company's previous close.

OGN has been the subject of a number of other reports. Barclays dropped their price target on Organon & Co. from $26.00 to $24.00 and set an "overweight" rating for the company in a report on Friday, February 14th. TD Cowen raised Organon & Co. to a "hold" rating in a report on Wednesday, January 15th. Finally, Evercore ISI downgraded shares of Organon & Co. from an "outperform" rating to an "inline" rating in a research report on Friday. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $18.00.

Organon & Co. Price Performance

Shares of NYSE:OGN traded down $0.74 on Monday, hitting $8.86. The stock had a trading volume of 3,770,962 shares, compared to its average volume of 2,901,070. The firm's 50 day moving average price is $13.46 and its 200-day moving average price is $14.92. The company has a debt-to-equity ratio of 17.73, a quick ratio of 1.21 and a current ratio of 1.70. Organon & Co. has a twelve month low of $8.82 and a twelve month high of $23.10. The company has a market capitalization of $2.30 billion, a price-to-earnings ratio of 2.67, 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 quarterly earnings results on Thursday, May 1st. The company reported $1.02 EPS for the quarter, beating analysts' consensus estimates of $0.89 by $0.13. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.53 billion. Organon & Co. had a net margin of 13.49% and a return on equity of 431.62%. The company's revenue for the quarter was down 6.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.22 earnings per share. On average, equities research analysts predict that Organon & Co. will post 3.68 earnings per share for the current year.

Hedge Funds Weigh In On Organon & Co.

Several hedge funds have recently added to or reduced their stakes in OGN. MassMutual Private Wealth & Trust FSB grew its position in shares of Organon & Co. by 32.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,749 shares of the company's stock worth $41,000 after buying an additional 672 shares during the period. Treasurer of the State of North Carolina grew its holdings in 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 acquiring an additional 710 shares during the period. Beam Wealth Advisors Inc. raised its position in shares of Organon & Co. by 3.9% during the 4th quarter. Beam Wealth Advisors Inc. now owns 18,888 shares of the company's stock valued at $282,000 after acquiring an additional 717 shares during the last quarter. HighTower Advisors LLC lifted its stake in shares of Organon & Co. by 0.5% in the 4th quarter. HighTower Advisors LLC now owns 163,440 shares of the company's stock valued at $2,439,000 after purchasing an additional 855 shares during the period. Finally, SBI Securities Co. Ltd. boosted its position in shares of Organon & Co. by 17.6% in 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. Institutional investors own 77.43% of the company's stock.

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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