Organon & Co. (NYSE:OGN) Receives $18.00 Average PT from Brokerages

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

OGN has been the topic of a number of recent research reports. Piper Sandler lowered their target price on Organon & Co. from $24.00 to $18.00 and set an "overweight" rating on the stock in a research note on Thursday, May 15th. Morgan Stanley cut their price target on Organon & Co. from $15.00 to $10.00 and set an "equal weight" rating for the company in a report on Monday, May 5th. BNP Paribas raised Organon & Co. to a "strong-buy" rating in a report on Thursday, May 22nd. Barclays cut 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. Finally, Evercore ISI cut Organon & Co. from an "outperform" rating to an "inline" rating in a research note on Friday, May 2nd.

Organon & Co. Trading Up 4.3%

Shares of NYSE OGN traded up $0.40 during midday trading on Friday, hitting $9.55. The company's stock had a trading volume of 1,595,558 shares, compared to its average volume of 3,264,947. The business's 50 day moving average is $11.15 and its two-hundred day moving average is $13.91. The firm has a market cap of $2.48 billion, a P/E ratio of 2.86, a price-to-earnings-growth ratio of 0.90 and a beta of 0.75. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 17.73. Organon & Co. has a 12-month low of $8.01 and a 12-month high of $23.10.

Organon & Co. (NYSE:OGN - Get Free Report) last posted 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 company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.53 billion. Organon & Co. had a return on equity of 431.62% and a net margin of 13.49%. Organon & Co.'s revenue was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.22 earnings per share. As a group, equities research analysts expect that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Monday, May 12th will be paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Monday, May 12th. Organon & Co.'s dividend payout ratio is presently 2.78%.

Insider Buying and Selling

In other Organon & Co. news, insider Kirke Weaver bought 8,045 shares of the business's stock in a transaction on Tuesday, May 6th. The shares were purchased at an average price of $9.21 per share, with a total value of $74,094.45. Following the completion of the acquisition, the insider now directly owns 52,489 shares of the company's stock, valued at approximately $483,423.69. The trade was a 18.10% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Daniel Karp purchased 3,500 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were acquired at an average cost of $8.24 per share, for a total transaction of $28,840.00. Following the acquisition, the vice president now owns 46,669 shares of the company's stock, valued at approximately $384,552.56. The trade was a 8.11% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 102,345 shares of company stock valued at $902,430. 1.96% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Organon & Co.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in OGN. Barclays PLC raised its holdings in Organon & Co. by 238.0% during the third quarter. Barclays PLC now owns 119,483 shares of the company's stock worth $2,285,000 after purchasing an additional 84,136 shares in the last quarter. HB Wealth Management LLC grew its position in Organon & Co. by 64.2% in the fourth quarter. HB Wealth Management LLC now owns 18,114 shares of the company's stock worth $270,000 after buying an additional 7,081 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in Organon & Co. by 32.4% in the fourth 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 last quarter. Impact Partnership Wealth LLC grew its position in Organon & Co. by 43.7% in the fourth quarter. Impact Partnership Wealth LLC now owns 18,871 shares of the company's stock worth $282,000 after buying an additional 5,736 shares during the last quarter. Finally, DGS Capital Management LLC acquired a new position in Organon & Co. in the fourth quarter worth approximately $235,000. Institutional investors own 77.43% of the company's stock.

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.