Piper Sandler Raises Organon & Co. (NYSE:OGN) Price Target to $24.00

Organon & Co. (NYSE:OGN) had its price objective raised by Piper Sandler from $22.00 to $24.00 in a research note issued to investors on Monday, Benzinga reports. They currently have an overweight rating on the stock.

Separately, The Goldman Sachs Group upped their price objective on shares of Organon & Co. from $16.00 to $18.00 and gave the stock a neutral rating in a research report on Tuesday, February 20th.

Organon & Co. Stock Performance

Shares of Organon & Co. stock opened at $18.84 on Monday. The firm has a 50-day moving average of $18.14 and a 200-day moving average of $15.70. The stock has a market cap of $4.85 billion, a PE ratio of 4.71, a PEG ratio of 0.89 and a beta of 0.83. Organon & Co. has a 52-week low of $10.84 and a 52-week high of $24.58.

Organon & Co. (NYSE:OGN) last announced its earnings results on Thursday, February 15th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.14. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Organon & Co. had a net margin of 16.33% and a negative return on equity of 212.00%. Equities research analysts predict that Organon & Co. will post 4.08 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Monday, February 26th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 5.94%. The ex-dividend date was Friday, February 23rd. Organon & Co.’s payout ratio is 28.00%.

Insiders Place Their Bets

In other news, insider Kirke Weaver acquired 2,720 shares of the stock in a transaction dated Thursday, February 22nd. The stock was bought at an average price of $18.36 per share, with a total value of $49,939.20. Following the completion of the purchase, the insider now directly owns 15,181 shares of the company’s stock, valued at approximately $278,723.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.17% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Lindbrook Capital LLC increased its stake in shares of Organon & Co. by 348.3% in the fourth quarter. Lindbrook Capital LLC now owns 1,838 shares of the company’s stock valued at $27,000 after buying an additional 1,428 shares during the period. Harvest Fund Management Co. Ltd increased its stake in shares of Organon & Co. by 495.5% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,602 shares of the company’s stock valued at $28,000 after buying an additional 1,333 shares during the period. Gladius Capital Management LP increased its position in Organon & Co. by 65.1% during the 4th quarter. Gladius Capital Management LP now owns 2,176 shares of the company’s stock valued at $31,000 after purchasing an additional 858 shares during the period. Headlands Technologies LLC acquired a new stake in Organon & Co. during the 3rd quarter valued at approximately $35,000. Finally, GAMMA Investing LLC acquired a new stake in Organon & Co. during the 4th quarter valued at approximately $38,000. Institutional investors and hedge funds own 77.43% of the company’s stock.

Organon & Co. Company Profile

Organon & Co develops and delivers health solutions through a portfolio of prescription therapies and medical devices within women's health in the United States and internationally. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon, a long-acting reversible contraceptive; NuvaRing, a monthly vaginal contraceptive ring; Cerazette, a daily pill used to prevent pregnancy; Marvelon, progestin and estrogen used as daily pills to prevent pregnancy; Follistim AQ, used to promote the development of multiple ovarian follicles in assisted reproduction technology procedures; Elonva, an ovarian follicle stimulant; Ganirelix Acetate Injection, an injectable antagonist; and Jada, for abnormal postpartum uterine bleeding or hemorrhage.