Organon & Co. (NYSE:OGN - Get Free Report) dropped 9.4% during trading on Tuesday . The stock traded as low as $8.90 and last traded at $8.76. Approximately 1,199,646 shares changed hands during trading, a decline of 73% from the average daily volume of 4,418,623 shares. The stock had previously closed at $9.67.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on OGN shares. Evercore ISI downgraded shares of Organon & Co. from an "outperform" rating to an "inline" rating in a report on Friday, May 2nd. Morgan Stanley reduced their price target on shares of Organon & Co. from $15.00 to $10.00 and set an "equal weight" rating for the company in a research report on Monday, May 5th. Piper Sandler lowered their price target on Organon & Co. from $24.00 to $18.00 and set an "overweight" rating on the stock in a report on Thursday, May 15th. Finally, BNP Paribas raised Organon & Co. to a "strong-buy" rating in a report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $18.00.
Read Our Latest Analysis on OGN
Organon & Co. Stock Up 0.9%
The company has a debt-to-equity ratio of 16.49, a current ratio of 1.67 and a quick ratio of 1.15. The firm's 50-day moving average price is $9.76 and its 200 day moving average price is $11.95. The firm has a market capitalization of $2.39 billion, a price-to-earnings ratio of 3.40, a price-to-earnings-growth ratio of 0.91 and a beta of 0.60.
Organon & Co. (NYSE:OGN - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.06. Organon & Co. had a return on equity of 182.69% and a net margin of 11.15%. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.55 billion. During the same quarter last year, the business posted $1.12 earnings per share. Organon & Co.'s revenue was down .8% compared to the same quarter last year. Sell-side analysts expect that Organon & Co. will post 3.68 EPS for the current year.
Organon & Co. Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Friday, August 15th will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, August 15th. Organon & Co.'s payout ratio is currently 2.97%.
Hedge Funds Weigh In On Organon & Co.
Several institutional investors and hedge funds have recently modified their holdings of the company. Hsbc Holdings PLC boosted its holdings in shares of Organon & Co. by 13.9% during the fourth 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. Wells Fargo & Company MN grew its holdings in 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 buying an additional 58,378 shares during the period. NBC Securities Inc. increased its stake in shares of Organon & Co. by 111,262.5% during the 1st quarter. NBC Securities Inc. now owns 8,909 shares of the company's stock valued at $132,000 after acquiring an additional 8,901 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Organon & Co. by 44.2% during the 4th quarter. Wellington Management Group LLP now owns 32,966 shares of the company's stock worth $492,000 after acquiring an additional 10,108 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its holdings in shares of Organon & Co. by 42.2% during the 1st quarter. Sequoia Financial Advisors LLC now owns 19,392 shares of the company's stock worth $289,000 after acquiring an additional 5,758 shares during the period. Hedge funds and other institutional investors own 77.43% of the company's stock.
About Organon & Co.
(
Get Free Report)
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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