Organon & Co. (NYSE:OGN) Given New $10.00 Price Target at Morgan Stanley

Organon & Co. (NYSE:OGN) had its price objective reduced by Morgan Stanley from $15.00 to $10.00 in a report released on Monday morning,Benzinga reports. They currently have an equal weight rating on the stock.

OGN has been the subject of several other reports. Evercore ISI lowered shares of Organon & Co. from an “outperform” rating to an “inline” rating in a report on Friday. TD Cowen raised shares of Organon & Co. to a “hold” rating in a report on Wednesday, January 15th. Finally, Barclays lowered their target price on shares of Organon & Co. from $26.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $18.00.

Organon & Co. Trading Down 9.0 %

Shares of Organon & Co. stock opened at $8.73 on Monday. The stock has a market cap of $2.27 billion, a PE ratio of 2.62, a price-to-earnings-growth ratio of 0.90 and a beta of 0.75. The firm has a fifty day moving average price of $13.33 and a 200 day moving average price of $14.86. Organon & Co. has a 1 year low of $8.63 and a 1 year high of $23.10. The company has a debt-to-equity ratio of 17.73, a current ratio of 1.70 and a quick ratio of 1.21.

Organon & Co. (NYSE:OGN) last issued its earnings results on Thursday, May 1st. The company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.13. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.53 billion. Organon & Co. had a return on equity of 431.62% and a net margin of 13.49%. The company’s revenue was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.22 earnings per share. Equities research analysts predict that Organon & Co. will post 3.68 earnings per share for the current 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 paid a $0.02 dividend. The ex-dividend date is Monday, May 12th. This represents a $0.08 dividend on an annualized basis and a yield of 0.92%. Organon & Co.’s dividend payout ratio is currently 2.78%.

Hedge Funds Weigh In On Organon & Co.

A number of large investors have recently added to or reduced their stakes in OGN. Pacer Advisors Inc. grew its position in shares of Organon & Co. by 94,482.1% in the fourth quarter. Pacer Advisors Inc. now owns 11,152,179 shares of the company’s stock valued at $166,391,000 after purchasing an additional 11,140,388 shares during the period. Norges Bank acquired a new stake in Organon & Co. in the 4th quarter worth about $25,258,000. Magnetar Financial LLC boosted its holdings in Organon & Co. by 560.2% in the 4th quarter. Magnetar Financial LLC now owns 1,734,434 shares of the company’s stock worth $25,878,000 after buying an additional 1,471,731 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Organon & Co. by 8.3% during 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 in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Organon & Co. during the fourth quarter valued at approximately $11,892,000. 77.43% of the stock is currently owned by institutional investors and hedge funds.

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.