Organon & Co. (NYSE:OGN) Shares Down 4.7% - Here's Why

Organon & Co. (NYSE:OGN - Get Free Report)'s stock price fell 4.7% during trading on Friday . The company traded as low as $8.30 and last traded at $8.29. 585,478 shares were traded during mid-day trading, a decline of 82% from the average session volume of 3,211,927 shares. The stock had previously closed at $8.69.

Analyst Ratings Changes

Several brokerages have recently commented on OGN. Piper Sandler decreased their target price on Organon & Co. from $24.00 to $18.00 and set an "overweight" rating on the stock in a report on Thursday, May 15th. Evercore ISI cut shares of Organon & Co. from an "outperform" rating to an "inline" rating in a research report on Friday, May 2nd. Morgan Stanley decreased their price objective 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. Finally, Barclays dropped their price target on shares of Organon & Co. from $26.00 to $24.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $18.00.

Organon & Co. Trading Down 1.4%

The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of 2.57, a P/E/G ratio of 0.90 and a beta of 0.75. The company has a debt-to-equity ratio of 17.73, a current ratio of 1.70 and a quick ratio of 1.21. The business's 50-day moving average price is $11.69 and its two-hundred day moving average price is $14.10.

Organon & Co. (NYSE:OGN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $1.02 EPS for the quarter, topping 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 company had revenue of $1.51 billion for the quarter, compared to analysts' expectations of $1.53 billion. During the same quarter last year, the business earned $1.22 earnings per share. Organon & Co.'s revenue was down 6.7% on a year-over-year basis. Research analysts predict that Organon & Co. will post 3.68 earnings per share for the current year.

Organon & Co. Cuts Dividend

The firm also recently announced 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 annualized dividend and a yield of 0.93%. The ex-dividend date is Monday, May 12th. Organon & Co.'s payout ratio is presently 2.78%.

Insider Transactions at Organon & Co.

In other Organon & Co. news, insider Kirke Weaver bought 8,045 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were acquired at an average cost of $9.21 per share, for a total transaction of $74,094.45. Following the transaction, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Daniel Karp acquired 3,500 shares of Organon & Co. stock in a transaction that occurred on Tuesday, May 6th. The stock was acquired at an average cost of $8.24 per share, for a total transaction of $28,840.00. Following the purchase, the vice president now owns 46,669 shares of the company's stock, valued at $384,552.56. The trade was a 8.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 102,345 shares of company stock valued at $902,430. Corporate insiders own 1.96% of the company's stock.

Institutional Investors Weigh In On Organon & Co.

A number of institutional investors have recently made changes to their positions in the stock. Barclays PLC lifted its stake in shares of Organon & Co. by 238.0% in the third quarter. Barclays PLC now owns 119,483 shares of the company's stock worth $2,285,000 after acquiring an additional 84,136 shares during the period. Hsbc Holdings PLC raised its holdings in Organon & Co. by 13.9% during the 4th quarter. Hsbc Holdings PLC now owns 13,922 shares of the company's stock worth $208,000 after purchasing an additional 1,703 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new position in Organon & Co. during the 4th quarter worth approximately $2,263,000. Sippican Capital Advisors lifted its position in shares of Organon & Co. by 138.7% in the 4th quarter. Sippican Capital Advisors now owns 36,352 shares of the company's stock worth $542,000 after purchasing an additional 21,122 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in shares of Organon & Co. by 28.6% in the 4th quarter. Wells Fargo & Company MN now owns 262,746 shares of the company's stock valued at $3,920,000 after purchasing an additional 58,378 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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