Organon & Co. (NYSE:OGN) Coverage Initiated by Analysts at Barclays

Barclays assumed coverage on shares of Organon & Co. (NYSE:OGN) in a research note released on Tuesday, MarketBeat reports. The firm issued an underweight rating and a $7.50 price objective on the stock.

Other equities research analysts also recently issued reports about the stock. Piper Sandler downgraded shares of Organon & Co. from an “overweight” rating to an “underweight” rating and set a $5.00 price objective for the company. in a research report on Monday, October 27th. JPMorgan Chase & Co. lowered their target price on Organon & Co. from $14.00 to $12.00 and set an “underweight” rating on the stock in a research note on Tuesday, November 11th. Morgan Stanley reduced their price target on Organon & Co. from $10.00 to $9.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 11th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Organon & Co. in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $8.38.

Organon & Co. Trading Down 5.0%

OGN stock opened at $6.93 on Tuesday. The company has a debt-to-equity ratio of 9.69, a current ratio of 1.75 and a quick ratio of 1.20. The company has a fifty day moving average price of $8.15 and a two-hundred day moving average price of $9.20. Organon & Co. has a one year low of $6.18 and a one year high of $17.23. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 3.61, a price-to-earnings-growth ratio of 1.56 and a beta of 0.57.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings data on Monday, November 10th. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.08. The company had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.57 billion. Organon & Co. had a net margin of 7.95% and a return on equity of 143.47%. During the same period in the prior year, the firm earned $1.38 earnings per share. Equities analysts anticipate that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 11th. Investors of record on Thursday, November 20th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Thursday, November 20th. This represents a $0.08 dividend on an annualized basis and a yield of 1.2%. Organon & Co.’s dividend payout ratio is currently 4.17%.

Hedge Funds Weigh In On Organon & Co.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of Organon & Co. by 11.3% during the 3rd quarter. Vanguard Group Inc. now owns 35,928,403 shares of the company’s stock worth $383,715,000 after purchasing an additional 3,650,860 shares in the last quarter. Norges Bank acquired a new position in Organon & Co. in the second quarter valued at about $19,778,000. AQR Capital Management LLC lifted its position in Organon & Co. by 136.1% during the second quarter. AQR Capital Management LLC now owns 3,254,884 shares of the company’s stock worth $31,507,000 after purchasing an additional 1,876,264 shares during the period. Balyasny Asset Management L.P. lifted its position in Organon & Co. by 102.1% during the third quarter. Balyasny Asset Management L.P. now owns 2,240,149 shares of the company’s stock worth $23,925,000 after purchasing an additional 1,131,941 shares during the period. Finally, Gotham Asset Management LLC grew its stake in Organon & Co. by 37.2% during the third quarter. Gotham Asset Management LLC now owns 3,713,204 shares of the company’s stock worth $39,657,000 after buying an additional 1,007,691 shares in the last quarter. 77.43% of the stock is 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.