Organon & Co. (NYSE:OGN) Shares Gap Up – Still a Buy?

Organon & Co. (NYSE:OGN)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $14.70, but opened at $15.74. Organon & Co. shares last traded at $16.45, with a volume of 1,169,714 shares changing hands.

Analyst Upgrades and Downgrades

Separately, TD Cowen raised shares of Organon & Co. to a “hold” rating in a research report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Organon & Co. has an average rating of “Hold” and a consensus price target of $21.33.

Organon & Co. Stock Performance

The firm has a 50 day moving average of $15.33 and a two-hundred day moving average of $17.54. The stock has a market cap of $4.26 billion, a P/E ratio of 3.29, a P/E/G ratio of 0.83 and a beta of 0.76. The company has a debt-to-equity ratio of 17.73, a quick ratio of 1.21 and a current ratio of 1.70.

Organon & Co. (NYSE:OGN) last issued its earnings results on Thursday, February 13th. The company reported $0.83 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.09). Organon & Co. had a return on equity of 644.70% and a net margin of 20.30%. On average, research analysts predict that Organon & Co. will post 3.82 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cetera Investment Advisers lifted its position in shares of Organon & Co. by 2.4% during the 2nd quarter. Cetera Investment Advisers now owns 58,599 shares of the company’s stock worth $1,213,000 after buying an additional 1,378 shares during the period. SG Americas Securities LLC raised its stake in Organon & Co. by 161.1% during the third quarter. SG Americas Securities LLC now owns 22,689 shares of the company’s stock worth $434,000 after acquiring an additional 14,000 shares in the last quarter. Ritholtz Wealth Management bought a new position in shares of Organon & Co. during the third quarter valued at $356,000. SeaCrest Wealth Management LLC boosted its stake in shares of Organon & Co. by 32.7% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 16,218 shares of the company’s stock valued at $310,000 after purchasing an additional 3,999 shares in the last quarter. Finally, nVerses Capital LLC bought a new stake in shares of Organon & Co. in the 3rd quarter worth about $260,000. Institutional investors own 77.43% of the company’s stock.

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.