The Goldman Sachs Group Begins Coverage on Organon & Co. (NYSE:OGN)

The Goldman Sachs Group initiated coverage on shares of Organon & Co. (NYSE:OGN – Get Rating) in a report released on Wednesday, Briefing.com reports. The brokerage set a “buy” rating and a $40.00 price target on the stock. The Goldman Sachs Group’s target price would suggest a potential upside of 26.34% from the stock’s current price.

Several other brokerages have also commented on OGN. Zacks Investment Research lowered Organon & Co. from a “hold” rating to a “sell” rating in a research note on Wednesday. Morgan Stanley dropped their price objective on shares of Organon & Co. from $37.00 to $35.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 6th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $39.89.

Shares of OGN stock opened at $31.66 on Wednesday. The company has a market cap of $8.03 billion and a price-to-earnings ratio of 5.95. The stock has a 50 day simple moving average of $35.33 and a 200-day simple moving average of $33.51. Organon & Co. has a 12-month low of $27.25 and a 12-month high of $39.47.

Organon & Co. (NYSE:OGN – Get Rating) last announced its quarterly earnings results on Thursday, February 17th. The company reported $1.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.12. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.58 billion. Organon & Co. had a negative return on equity of 1,899.41% and a net margin of 21.43%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. Analysts expect that Organon & Co. will post 5.43 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of OGN. Western Pacific Wealth Management LP purchased a new position in shares of Organon & Co. during the 4th quarter valued at approximately $25,000. Magnolia Capital Management Ltd. bought a new stake in shares of Organon & Co. in the 4th quarter worth approximately $26,000. Cutler Group LP bought a new stake in shares of Organon & Co. in the 4th quarter worth approximately $27,000. Dixon Hughes Goodman Wealth Advisors LLC bought a new stake in shares of Organon & Co. in the 4th quarter worth approximately $29,000. Finally, Reitz Capital Advisors LLC bought a new stake in shares of Organon & Co. in the 1st quarter worth approximately $35,000. Institutional investors own 68.86% of the company’s stock.

Organon & Co. Company Profile (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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