Organon & Co. (NYSE:OGN) Receives $18.00 Consensus Target Price from Brokerages

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

A number of research analysts have recently commented on OGN shares. BNP Paribas raised Organon & Co. to a "strong-buy" rating in a research note on Thursday, May 22nd. Morgan Stanley cut their target price 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. Piper Sandler dropped their price objective 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. Barclays dropped their price objective 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. Finally, Evercore ISI cut Organon & Co. from an "outperform" rating to an "inline" rating in a research note on Friday, May 2nd.

Insiders Place Their Bets

In related news, insider Kirke Weaver bought 8,045 shares of the stock in a transaction on Tuesday, May 6th. The stock was bought at an average price of $9.21 per share, for a total transaction of $74,094.45. Following the completion of the acquisition, the insider now directly owns 52,489 shares in the company, valued at approximately $483,423.69. This represents a 18.10% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Daniel Karp bought 3,500 shares of the stock in a transaction on Tuesday, May 6th. The shares were bought at an average price of $8.24 per share, with a total value of $28,840.00. Following the acquisition, the vice president now owns 46,669 shares of the company's stock, valued at $384,552.56. This trade represents a 8.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 102,345 shares of company stock worth $902,430 over the last 90 days. Company insiders own 1.96% of the company's stock.

Institutional Trading of Organon & Co.

A number of hedge funds have recently bought and sold shares of the stock. Millstone Evans Group LLC purchased a new stake in shares of Organon & Co. during the 4th quarter valued at $29,000. Ransom Advisory Ltd purchased a new stake in shares of Organon & Co. during the 1st quarter valued at $32,000. Larson Financial Group LLC lifted its holdings in shares of Organon & Co. by 345.4% during the 4th quarter. Larson Financial Group LLC now owns 2,236 shares of the company's stock valued at $33,000 after purchasing an additional 1,734 shares during the last quarter. Riverview Trust Co lifted its holdings in shares of Organon & Co. by 117.7% during the 4th quarter. Riverview Trust Co now owns 2,390 shares of the company's stock valued at $36,000 after purchasing an additional 1,292 shares during the last quarter. Finally, GeoWealth Management LLC purchased a new stake in shares of Organon & Co. during the 4th quarter valued at $41,000. Hedge funds and other institutional investors own 77.43% of the company's stock.

Organon & Co. Trading Up 4.2%

OGN stock traded up $0.39 during midday trading on Friday, reaching $9.54. 6,851,075 shares of the company traded hands, compared to its average volume of 3,292,374. Organon & Co. has a 52-week low of $8.01 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. The business has a 50 day moving average of $11.03 and a 200-day moving average of $13.86. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of 2.86, a P/E/G ratio of 0.90 and a beta of 0.75.

Organon & Co. (NYSE:OGN - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $1.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $0.13. Organon & Co. had a return on equity of 431.62% and a net margin of 13.49%. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same period in the prior year, the business posted $1.22 earnings per share. The company's quarterly revenue was down 6.7% compared to the same quarter last year. As a group, sell-side analysts expect that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Cuts Dividend

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

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.