Morgan Stanley Issues Pessimistic Forecast for Organon & Co. (NYSE:OGN) Stock Price

Organon & Co. (NYSE:OGN - Free Report) had its price target trimmed by Morgan Stanley from $15.00 to $10.00 in a report issued on Monday,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other equities research analysts also recently weighed in on OGN. Evercore ISI downgraded shares of Organon & Co. from an "outperform" rating to an "inline" rating in a research note on Friday, May 2nd. TD Cowen raised shares of Organon & Co. to a "hold" rating in a report on Wednesday, January 15th. Finally, Barclays dropped their price objective on shares of Organon & Co. from $26.00 to $24.00 and set an "overweight" rating for the company in a report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, Organon & Co. presently has a consensus rating of "Hold" and an average price target of $18.00.

Organon & Co. Stock Performance

OGN stock traded down $0.30 during midday trading on Monday, reaching $8.72. 3,910,518 shares of the company's stock traded hands, compared to its average volume of 3,052,184. The firm has a market capitalization of $2.27 billion, a PE ratio of 2.62, a price-to-earnings-growth ratio of 0.90 and a beta of 0.75. The company has a 50-day moving average price of $12.87 and a two-hundred day moving average price of $14.66. Organon & Co. has a 52 week low of $8.05 and a 52 week high of $23.10. 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. (NYSE:OGN - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $1.02 EPS for the quarter, beating the consensus estimate of $0.89 by $0.13. The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.53 billion. Organon & Co. had a net margin of 13.49% and a return on equity of 431.62%. The business's quarterly revenue was down 6.7% compared to the same quarter last year. During the same period last year, the firm earned $1.22 EPS. As a group, equities analysts anticipate that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Monday, May 12th will be issued a $0.02 dividend. The ex-dividend date is Monday, May 12th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.92%. Organon & Co.'s payout ratio is 2.78%.

Insider Activity at Organon & Co.

In other news, insider Kirke Weaver bought 8,045 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were bought at an average cost of $9.21 per share, with a total value of $74,094.45. Following the completion of the purchase, the insider now directly owns 52,489 shares in the company, valued at $483,423.69. This represents a 18.10 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CFO Matthew M. Walsh purchased 11,400 shares of the company's stock in a transaction on Monday, May 5th. The shares were purchased at an average cost of $8.82 per share, with a total value of $100,548.00. Following the transaction, the chief financial officer now directly owns 144,484 shares in the company, valued at $1,274,348.88. This trade represents a 8.57 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 102,345 shares of company stock valued at $902,430. Insiders own 1.96% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of OGN. Vanguard Group Inc. grew its position in shares of Organon & Co. by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 30,401,709 shares of the company's stock worth $453,593,000 after buying an additional 218,165 shares during the last quarter. Pacer Advisors Inc. increased its position in Organon & Co. by 94,482.1% during the 4th quarter. Pacer Advisors Inc. now owns 11,152,179 shares of the company's stock valued at $166,391,000 after purchasing an additional 11,140,388 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Organon & Co. by 8.3% in the 1st 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 in the last quarter. LSV Asset Management lifted its position in shares of Organon & Co. by 6.1% in the 1st 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. Finally, Deprince Race & Zollo Inc. increased its position in shares of Organon & Co. by 7.0% during the fourth quarter. Deprince Race & Zollo Inc. now owns 4,729,258 shares of the company's stock valued at $70,561,000 after buying an additional 308,267 shares during the period. Hedge funds and other 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.