Organon & Co. (NYSE:OGN) Reaches New 12-Month Low Following Analyst Downgrade

Shares of Organon & Co. (NYSE:OGN) hit a new 52-week low during mid-day trading on Thursday after Morgan Stanley lowered their price target on the stock from $16.00 to $15.00. Morgan Stanley currently has an equal weight rating on the stock. Organon & Co. traded as low as $11.05 and last traded at $12.60, with a volume of 7089168 shares traded. The stock had previously closed at $11.65.

Other equities analysts have also issued reports about the company. Barclays reduced their target price on Organon & Co. from $26.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, February 14th. TD Cowen raised Organon & Co. to a “hold” rating in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Organon & Co. presently has a consensus rating of “Hold” and an average price target of $20.60.

Institutional Investors Weigh In On Organon & Co.

A number of institutional investors have recently made changes to their positions in the business. Horizon Bancorp Inc. IN grew its holdings in shares of Organon & Co. by 2,401.5% in the fourth quarter. Horizon Bancorp Inc. IN now owns 1,651 shares of the company’s stock worth $25,000 after purchasing an additional 1,585 shares during the last quarter. Millstone Evans Group LLC bought a new position in shares of Organon & Co. in the 4th quarter worth approximately $29,000. Larson Financial Group LLC raised its holdings in Organon & Co. by 345.4% in the fourth quarter. Larson Financial Group LLC now owns 2,236 shares of the company’s stock worth $33,000 after purchasing an additional 1,734 shares in the last quarter. Riverview Trust Co increased its stake in shares of Organon & Co. by 117.7% in the 4th quarter. Riverview Trust Co now owns 2,390 shares of the company’s stock worth $36,000 after acquiring an additional 1,292 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of Organon & Co. by 92.2% during the fourth quarter. Versant Capital Management Inc now owns 2,760 shares of the company’s stock valued at $41,000 after purchasing an additional 1,324 shares during the last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Organon & Co. Stock Up 8.1 %

The firm has a market cap of $3.25 billion, a PE ratio of 3.78, a PEG ratio of 0.90 and a beta of 0.73. The stock has a 50 day simple moving average of $14.78 and a 200-day simple moving average of $15.78. 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 released its quarterly earnings data on Thursday, February 13th. The company reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.09). Organon & Co. had a net margin of 13.49% and a return on equity of 431.62%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.57 billion. Sell-side analysts predict that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Monday, February 24th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 8.89%. The ex-dividend date of this dividend was Monday, February 24th. Organon & Co.’s dividend payout ratio is currently 33.63%.

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.