Evercore ISI Downgrades Organon & Co. (NYSE:OGN) to Inline

Organon & Co. (NYSE:OGN - Get Free Report) was downgraded by equities researchers at Evercore ISI from an "outperform" rating to an "inline" rating in a report released on Friday, Marketbeat reports.

OGN has been the subject of a number of other research reports. TD Cowen raised shares of Organon & Co. to a "hold" rating in a research note on Wednesday, January 15th. Morgan Stanley cut their price target on shares of Organon & Co. from $16.00 to $15.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 9th. Finally, Barclays reduced 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. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Organon & Co. currently has an average rating of "Hold" and a consensus target price of $19.67.

Organon & Co. Price Performance

NYSE:OGN traded up $0.15 during midday trading on Friday, hitting $9.60. The company had a trading volume of 13,582,579 shares, compared to its average volume of 2,895,434. The company has a market capitalization of $2.50 billion, a PE ratio of 2.88, a P/E/G ratio of 0.90 and a beta of 0.73. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73. Organon & Co. has a 52-week low of $9.18 and a 52-week high of $23.10. The stock's fifty day moving average price is $13.46 and its 200-day moving average price is $14.92.

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

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 boosted its holdings in shares of Organon & Co. by 238.0% during the 3rd quarter. Barclays PLC now owns 119,483 shares of the company's stock valued at $2,285,000 after buying an additional 84,136 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Organon & Co. during the 3rd quarter valued at about $185,000. Tidal Investments LLC boosted its stake in Organon & Co. by 10.6% during the third quarter. Tidal Investments LLC now owns 76,525 shares of the company's stock worth $1,464,000 after acquiring an additional 7,330 shares in the last quarter. Franklin Resources Inc. boosted its stake in Organon & Co. by 3.9% during the third quarter. Franklin Resources Inc. now owns 344,138 shares of the company's stock worth $6,229,000 after acquiring an additional 13,029 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in Organon & Co. by 92.2% in the fourth quarter. Versant Capital Management Inc now owns 2,760 shares of the company's stock worth $41,000 after purchasing an additional 1,324 shares during the period. 77.43% of the stock is owned by hedge funds and other institutional investors.

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.