Organon & Co. (NYSE:OGN) Rating Lowered to Neutral at The Goldman Sachs Group

Organon & Co. (NYSE:OGN) was downgraded by stock analysts at The Goldman Sachs Group from a “buy” rating to a “neutral” rating in a report released on Friday, Marketbeat.com reports. They currently have a $16.00 price objective on the stock, down from their prior price objective of $33.00. The Goldman Sachs Group’s price target would suggest a potential upside of 20.30% from the stock’s current price.

Several other research analysts have also issued reports on the company. Barclays began coverage on Organon & Co. in a research report on Thursday, September 21st. They set an “overweight” rating and a $28.00 target price for the company. Bank of America dropped their price target on Organon & Co. from $23.00 to $19.00 in a research report on Thursday, October 12th. Piper Sandler dropped their price target on Organon & Co. from $33.00 to $32.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 25th. Finally, Morgan Stanley dropped their price target on Organon & Co. from $27.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 11th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $25.00.

Organon & Co. Price Performance

Shares of NYSE:OGN opened at $13.30 on Friday. Organon & Co. has a 1 year low of $12.65 and a 1 year high of $32.43. The business has a 50 day simple moving average of $17.76 and a two-hundred day simple moving average of $20.15. The firm has a market capitalization of $3.40 billion, a PE ratio of 5.81, a price-to-earnings-growth ratio of 0.41 and a beta of 0.94.

Organon & Co. (NYSE:OGN) last announced its earnings results on Tuesday, August 8th. The company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.34. Organon & Co. had a negative return on equity of 120.60% and a net margin of 9.51%. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same quarter in the previous year, the business earned $1.25 earnings per share. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. Equities research analysts expect that Organon & Co. will post 4.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Organon & Co.

Institutional investors have recently added to or reduced their stakes in the stock. State of Michigan Retirement System boosted its position in Organon & Co. by 1.0% during the first quarter. State of Michigan Retirement System now owns 69,864 shares of the company’s stock valued at $1,643,000 after purchasing an additional 700 shares in the last quarter. Brown Advisory Inc. boosted its holdings in Organon & Co. by 4.3% in the first quarter. Brown Advisory Inc. now owns 46,885 shares of the company’s stock worth $1,103,000 after acquiring an additional 1,923 shares in the last quarter. Houlihan Financial Resource Group Ltd. acquired a new stake in Organon & Co. in the second quarter worth about $250,000. Carret Asset Management LLC boosted its holdings in Organon & Co. by 0.8% in the second quarter. Carret Asset Management LLC now owns 90,718 shares of the company’s stock worth $1,888,000 after acquiring an additional 761 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its holdings in Organon & Co. by 26.9% in the first quarter. Oppenheimer & Co. Inc. now owns 117,944 shares of the company’s stock worth $2,774,000 after acquiring an additional 24,994 shares in the last quarter. Institutional investors own 77.08% of the company’s stock.

About Organon & Co.

Organon & Co develops and delivers health solutions through a portfolio of prescription therapies and medical devices within women's health in the United States and internationally. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon/Implanon, a long-acting reversible contraceptive; Nuvaring, a monthly vaginal contraceptive ring; Cerazette, a daily pill used to prevent pregnancy; Marvelon, progestin and estrogen used as daily pills to prevent pregnancy; Follistim AQ, used to promote the development of multiple ovarian follicles in assisted reproduction technology procedures; Elonva, an ovarian follicle stimulant; Ganirelix Acetate Injection, an injectable antagonist; and Jada, for abnormal postpartum uterine bleeding or hemorrhage.