Organon & Co. (NYSE:OGN) Downgraded to Underweight Rating by Piper Sandler

Piper Sandler downgraded shares of Organon & Co. (NYSE:OGN) from an overweight rating to an underweight rating in a report issued on Monday morning, Marketbeat.com reports. Piper Sandler currently has $5.00 price objective on the stock.

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Organon & Co. in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Organon & Co. has an average rating of “Hold” and a consensus price target of $13.00.

Organon & Co. Stock Down 23.1%

NYSE:OGN opened at $7.05 on Monday. Organon & Co. has a fifty-two week low of $6.80 and a fifty-two week high of $19.05. The stock has a market capitalization of $1.83 billion, a P/E ratio of 2.62, a P/E/G ratio of 0.83 and a beta of 0.63. The company has a debt-to-equity ratio of 11.98, a quick ratio of 1.13 and a current ratio of 1.65. The company’s 50-day simple moving average is $9.87 and its 200-day simple moving average is $9.84.

Organon & Co. (NYSE:OGN) last released its quarterly earnings results on Tuesday, August 5th. The company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.06. Organon & Co. had a net margin of 11.15% and a return on equity of 163.88%. The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same period last year, the business earned $1.12 EPS. The company’s revenue was down .8% compared to the same quarter last year. Organon & Co. has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 11th. Shareholders of record on Friday, August 15th were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.08 dividend on an annualized basis and a yield of 1.1%. Organon & Co.’s dividend payout ratio (DPR) is currently 2.97%.

Hedge Funds Weigh In On Organon & Co.

A number of institutional investors have recently bought and sold shares of OGN. GAMMA Investing LLC raised its position in Organon & Co. by 186.9% during the 1st quarter. GAMMA Investing LLC now owns 4,611 shares of the company’s stock worth $69,000 after buying an additional 3,004 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in Organon & Co. by 67.8% during the 1st quarter. Oppenheimer & Co. Inc. now owns 54,165 shares of the company’s stock worth $807,000 after buying an additional 21,887 shares during the last quarter. Sequoia Financial Advisors LLC raised its position in Organon & Co. by 42.2% during the 1st quarter. Sequoia Financial Advisors LLC now owns 19,392 shares of the company’s stock worth $289,000 after buying an additional 5,758 shares during the last quarter. Illinois Municipal Retirement Fund raised its position in Organon & Co. by 48.5% during the 1st quarter. Illinois Municipal Retirement Fund now owns 205,508 shares of the company’s stock worth $3,060,000 after buying an additional 67,141 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Organon & Co. during the 1st quarter worth approximately $60,000. 77.43% of the stock is owned by hedge funds and other institutional investors.

Organon & Co. Company Profile

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.