Organon & Co. (NYSE:OGN) Shares Up 4.2% - Still a Buy?

Organon & Co. (NYSE:OGN - Get Free Report)'s share price was up 4.2% during mid-day trading on Thursday . The stock traded as high as $9.52 and last traded at $9.53. Approximately 781,112 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 3,264,045 shares. The stock had previously closed at $9.15.

Analyst Ratings Changes

Several research analysts have recently issued reports on OGN shares. Morgan Stanley lowered their target price on shares of 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 upgraded shares of Organon & Co. to a "strong-buy" rating in a research note on Thursday, May 22nd. Piper Sandler decreased their price target on shares of Organon & Co. from $24.00 to $18.00 and set an "overweight" rating for the company in a research note on Thursday, May 15th. Barclays decreased their price target on shares of Organon & Co. from $26.00 to $24.00 and set an "overweight" rating for the company in a research note on Friday, February 14th. Finally, Evercore ISI cut shares of Organon & Co. from an "outperform" rating to an "inline" rating in a research note on Friday, May 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $18.00.

Organon & Co. Price Performance

The company has a market cap of $2.39 billion, a price-to-earnings ratio of 2.76, a PEG 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. The company's 50 day moving average price is $10.92 and its 200 day moving average price is $13.82.

Organon & Co. (NYSE:OGN - Get Free Report) last announced its quarterly earnings results 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. The business 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 revenue was down 6.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.22 EPS. Equities research analysts forecast that Organon & Co. will post 3.68 earnings per share for the current year.

Organon & Co. Cuts Dividend

The business also recently declared 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 0.87%. Organon & Co.'s dividend payout ratio is presently 2.78%.

Insider Buying and Selling at Organon & Co.

In other news, CEO Kevin Ali purchased 34,000 shares of the stock in a transaction dated Monday, May 5th. The stock was acquired at an average cost of $8.80 per share, for a total transaction of $299,200.00. Following the completion of the acquisition, the chief executive officer now directly owns 282,731 shares in the company, valued at $2,488,032.80. This represents a 13.67% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kirke Weaver purchased 8,045 shares of the stock in a transaction dated 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 owns 52,489 shares of the company's stock, valued at approximately $483,423.69. This represents a 18.10% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders acquired 102,345 shares of company stock worth $902,430. 1.96% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Organon & Co.

A number of hedge funds and other institutional investors have recently modified their holdings of OGN. Barclays PLC grew its holdings in shares of 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 buying an additional 84,136 shares in the last quarter. Blue Trust Inc. grew its holdings in Organon & Co. by 107.6% in the fourth quarter. Blue Trust Inc. now owns 7,599 shares of the company's stock valued at $113,000 after purchasing an additional 3,938 shares during the period. KBC Group NV grew its holdings in Organon & Co. by 66.6% in the fourth quarter. KBC Group NV now owns 12,899 shares of the company's stock valued at $192,000 after purchasing an additional 5,155 shares during the period. Robeco Institutional Asset Management B.V. purchased a new stake in Organon & Co. in the fourth quarter valued at approximately $2,263,000. Finally, EMC Capital Management grew its holdings in Organon & Co. by 343.9% in the fourth quarter. EMC Capital Management now owns 13,831 shares of the company's stock valued at $206,000 after purchasing an additional 10,715 shares during the period. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

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.