Organon & Co. (NYSE:OGN) Downgraded by Zacks Investment Research to Sell

Organon & Co. (NYSE:OGNGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Thursday, Zacks.com reports.

According to Zacks, “Organon is a healthcare company. It focuses on the health of women throughout their lives. Organon is based in JERSEY CITY, N.J. “

Separately, Morgan Stanley reduced their price target on Organon & Co. from $37.00 to $35.00 and set an “equal weight” rating for the company in a report on Wednesday, April 6th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Organon & Co. has an average rating of “Hold” and an average price target of $39.33.

Shares of NYSE OGN opened at $33.35 on Thursday. The stock has a market capitalization of $8.46 billion and a P/E ratio of 6.27. Organon & Co. has a one year low of $27.25 and a one year high of $39.47. The firm’s 50 day simple moving average is $35.56 and its two-hundred day simple moving average is $33.52.

Organon & Co. (NYSE:OGNGet Rating) last announced its quarterly earnings results on Thursday, February 17th. The company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.12. Organon & Co. had a negative return on equity of 1,899.41% and a net margin of 21.43%. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.58 billion. The company’s revenue was down .6% compared to the same quarter last year. Sell-side analysts forecast that Organon & Co. will post 5.45 earnings per share for the current year.

A number of large investors have recently made changes to their positions in OGN. Creative Planning increased its holdings in shares of Organon & Co. by 22.0% in the third quarter. Creative Planning now owns 135,022 shares of the company’s stock valued at $4,427,000 after purchasing an additional 24,332 shares during the period. Qube Research & Technologies Ltd lifted its position in shares of Organon & Co. by 794.5% in the fourth quarter. Qube Research & Technologies Ltd now owns 193,334 shares of the company’s stock valued at $5,887,000 after acquiring an additional 171,721 shares in the last quarter. Lord Abbett & CO. LLC lifted its position in shares of Organon & Co. by 3.8% in the third quarter. Lord Abbett & CO. LLC now owns 3,126,158 shares of the company’s stock valued at $102,508,000 after acquiring an additional 114,458 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Organon & Co. by 768.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 1,000,109 shares of the company’s stock valued at $3,048,000 after purchasing an additional 884,995 shares during the last quarter. Finally, Keene & Associates Inc. acquired a new stake in shares of Organon & Co. in the fourth quarter valued at approximately $2,705,000. 68.86% of the stock is currently owned by institutional investors.

About Organon & Co. (Get Rating)

Organon & Co, a science-based pharmaceutical company, develops and delivers health solutions through a portfolio of prescription therapies within women's health, biosimilars, and established brands. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon/Implanon, a long-acting reversible contraceptive.

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