Brokerages Set Organon & Co. (NYSE:OGN) PT at $8.50

Shares of Organon & Co. (NYSE:OGN) have received an average recommendation of “Reduce” from the seven brokerages that are currently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $8.50.

OGN has been the subject of several analyst reports. Zacks Research raised shares of Organon & Co. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 14th. Wall Street Zen downgraded shares of Organon & Co. from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, Barclays upped their price objective on shares of Organon & Co. from $7.50 to $8.00 and gave the company an “underweight” rating in a research note on Tuesday, February 24th.

Organon & Co. Trading Down 6.0%

Shares of OGN stock opened at $8.60 on Tuesday. The firm has a 50-day moving average price of $7.14 and a 200 day moving average price of $7.67. Organon & Co. has a twelve month low of $5.69 and a twelve month high of $13.24. The company has a market capitalization of $2.24 billion, a price-to-earnings ratio of 12.11, a PEG ratio of 0.84 and a beta of 0.67. The company has a current ratio of 1.82, a quick ratio of 1.23 and a debt-to-equity ratio of 11.47.

Organon & Co. (NYSE:OGN) last announced its earnings results on Thursday, February 12th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.10). Organon & Co. had a net margin of 3.01% and a return on equity of 122.01%. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period in the previous year, the firm posted $0.90 EPS. The company’s revenue for the quarter was down 5.3% compared to the same quarter last year. Research analysts forecast that Organon & Co. will post 3.24 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Monday, February 23rd were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Monday, February 23rd. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.9%. Organon & Co.’s dividend payout ratio is currently 11.27%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada increased its position in Organon & Co. by 53.4% during the 1st quarter. Royal Bank of Canada now owns 360,862 shares of the company’s stock worth $5,374,000 after purchasing an additional 125,648 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Organon & Co. by 126.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,435,198 shares of the company’s stock worth $21,370,000 after purchasing an additional 801,307 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Organon & Co. by 2.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,042,991 shares of the company’s stock worth $15,530,000 after purchasing an additional 26,640 shares in the last quarter. Focus Partners Wealth increased its position in Organon & Co. by 33.2% during the 1st quarter. Focus Partners Wealth now owns 55,875 shares of the company’s stock worth $832,000 after purchasing an additional 13,925 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in Organon & Co. during the 2nd quarter worth approximately $107,000. Institutional investors and hedge funds own 77.43% of the company’s stock.

About Organon & Co.

Organon & Co is a global healthcare company that was established as an independent, publicly traded entity following its spin-off from Merck & Co in June 2021. Headquartered in Jersey City, New Jersey, Organon focuses on delivering therapeutic solutions across women’s health, biosimilars, and established brands. The company’s creation reflected a strategic effort to concentrate on specialty pharmaceuticals and legacy products with proven patient impact.

In women’s health, Organon provides a broad portfolio of products addressing reproductive and gynecological conditions, including fertility treatments, contraception, and hormone replacement therapies.