Brokerages Set Organon & Co. (NYSE:OGN) Target Price at $19.75

Organon & Co. (NYSE:OGN) has earned a consensus recommendation of “Hold” from the five research firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $19.75.

A number of brokerages have recently weighed in on OGN. Morgan Stanley cut their price objective on 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. TD Cowen raised Organon & Co. to a “hold” rating in a research note on Wednesday, January 15th. Barclays cut their target price on shares of Organon & Co. from $26.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Finally, Evercore ISI downgraded shares of Organon & Co. from an “outperform” rating to an “inline” rating in a research note on Friday.

Organon & Co. Price Performance

Shares of Organon & Co. stock opened at $9.60 on Wednesday. The company has a market capitalization of $2.50 billion, a price-to-earnings ratio of 2.88, a PEG 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. The stock’s 50-day simple moving average is $13.46 and its 200-day simple moving average is $14.96. Organon & Co. has a 52 week low of $9.18 and a 52 week high of $23.10.

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

Organon & Co. Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Monday, May 12th will be given a $0.02 dividend. The ex-dividend date of this dividend is Monday, May 12th. This represents a $0.08 dividend on an annualized basis and a yield of 0.83%. Organon & Co.’s dividend payout ratio is presently 33.63%.

Institutional Investors Weigh In On Organon & Co.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Pacer Advisors Inc. raised its position in Organon & Co. by 94,482.1% in the 4th quarter. Pacer Advisors Inc. now owns 11,152,179 shares of the company’s stock worth $166,391,000 after purchasing an additional 11,140,388 shares during the period. Norges Bank bought a new stake in shares of Organon & Co. during the 4th quarter worth approximately $25,258,000. Magnetar Financial LLC boosted its holdings in Organon & Co. by 560.2% during the 4th quarter. Magnetar Financial LLC now owns 1,734,434 shares of the company’s stock valued at $25,878,000 after acquiring an additional 1,471,731 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Organon & Co. by 8.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 10,715,445 shares of the company’s stock worth $159,553,000 after buying an additional 820,378 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Organon & Co. in the 4th quarter worth about $11,892,000. Hedge funds and other institutional investors own 77.43% of the company’s stock.

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.