Raymond James Begins Coverage on Organon & Co. (NYSE:OGN)

Raymond James assumed coverage on shares of Organon & Co. (NYSE:OGN – Get Rating) in a research note published on Wednesday morning, The Fly reports. The brokerage issued an outperform rating and a $33.00 price objective on the stock.

Organon & Co. Price Performance

NYSE:OGN opened at $21.67 on Wednesday. Organon & Co. has a 1 year low of $21.11 and a 1 year high of $39.09. The stock’s 50 day simple moving average is $27.69 and its two-hundred day simple moving average is $26.73. The company has a market cap of $5.51 billion, a price-to-earnings ratio of 6.04, a PEG ratio of 0.87 and a beta of 0.80.

Organon & Co. (NYSE:OGN – Get Rating) last released its quarterly earnings data on Thursday, February 16th. The company reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). Organon & Co. had a negative return on equity of 118.21% and a net margin of 14.85%. The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the previous year, the firm earned $1.37 EPS. The business’s revenue was down 7.4% compared to the same quarter last year. As a group, analysts anticipate that Organon & Co. will post 4.43 EPS for the current year.

Organon & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 16th. Investors of record on Monday, February 27th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 5.17%. The ex-dividend date was Friday, February 24th. Organon & Co.’s payout ratio is currently 31.20%.

Hedge Funds Weigh In On Organon & Co.

A number of large investors have recently bought and sold shares of the business. Kahn Brothers Group Inc. lifted its holdings in shares of Organon & Co. by 0.6% in the 4th quarter. Kahn Brothers Group Inc. now owns 62,634 shares of the company’s stock worth $1,749,000 after buying an additional 366 shares during the period. Vantage Consulting Group Inc lifted its holdings in shares of Organon & Co. by 5.9% in the 2nd quarter. Vantage Consulting Group Inc now owns 6,785 shares of the company’s stock worth $229,000 after buying an additional 377 shares during the period. Perigon Wealth Management LLC lifted its holdings in shares of Organon & Co. by 5.9% in the 2nd quarter. Perigon Wealth Management LLC now owns 6,962 shares of the company’s stock worth $235,000 after buying an additional 385 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of Organon & Co. by 12.0% in the 3rd quarter. Daiwa Securities Group Inc. now owns 3,665 shares of the company’s stock worth $86,000 after buying an additional 394 shares during the period. Finally, Beacon Pointe Advisors LLC lifted its holdings in shares of Organon & Co. by 4.1% in the 2nd quarter. Beacon Pointe Advisors LLC now owns 10,804 shares of the company’s stock worth $362,000 after buying an additional 422 shares during the period. Hedge funds and other institutional investors own 75.74% of the company’s stock.

About Organon & Co.

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Organon & Co, a health care company, develops and delivers health solutions through a portfolio of prescription therapies in the United States and internationally. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon/Implanon, a long-acting reversible contraceptive.