Organon & Co. (NYSE:OGN) Price Target Cut to $16.00 by Analysts at Morgan Stanley

Organon & Co. (NYSE:OGN) had its target price trimmed by Morgan Stanley from $17.00 to $16.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Separately, TD Cowen upgraded Organon & Co. to a “hold” rating in a research report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Organon & Co. has a consensus rating of “Hold” and a consensus target price of $20.80.

Organon & Co. Price Performance

Shares of NYSE OGN opened at $15.30 on Friday. The business’s 50 day moving average price is $15.35 and its 200 day moving average price is $17.48. The firm has a market cap of $3.94 billion, a P/E ratio of 3.03, a P/E/G ratio of 0.83 and a beta of 0.76. Organon & Co. has a 52 week low of $13.87 and a 52 week high of $23.10. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73.

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

Organon & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Monday, February 24th will be given a $0.28 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.12 annualized dividend and a yield of 7.32%. Organon & Co.’s dividend payout ratio is presently 22.22%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in OGN. Pacer Advisors Inc. raised its stake in shares of Organon & Co. by 94,482.1% during the 4th quarter. Pacer Advisors Inc. now owns 11,152,179 shares of the company’s stock worth $166,391,000 after buying an additional 11,140,388 shares during the period. Weiss Asset Management LP acquired a new position in shares of Organon & Co. during the 3rd quarter worth approximately $32,966,000. Norges Bank acquired a new position in shares of Organon & Co. during the 4th quarter worth approximately $25,258,000. Magnetar Financial LLC raised its stake in shares of Organon & Co. by 560.2% during the 4th quarter. Magnetar Financial LLC now owns 1,734,434 shares of the company’s stock worth $25,878,000 after buying an additional 1,471,731 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of Organon & Co. by 303.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,242,135 shares of the company’s stock worth $23,762,000 after buying an additional 934,505 shares during the period. 77.43% of the stock is owned by institutional investors and hedge funds.

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.