Organon & Co. (NYSE:OGN) Receives $18.00 Average Price Target from Brokerages

Organon & Co. (NYSE:OGN) has received an average rating of “Moderate Buy” from the six ratings firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $18.00.

A number of equities research analysts have recently issued reports on the stock. Evercore ISI lowered shares of Organon & Co. from an “outperform” rating to an “inline” rating in a report on Friday, May 2nd. BNP Paribas raised shares of Organon & Co. to a “strong-buy” rating in a research report on Thursday, May 22nd. Piper Sandler dropped their price objective on Organon & Co. from $24.00 to $18.00 and set an “overweight” rating for the company in a research note on Thursday, May 15th. Finally, Morgan Stanley reduced their target price on shares of Organon & Co. from $15.00 to $10.00 and set an “equal weight” rating on the stock in a report on Monday, May 5th.

Insiders Place Their Bets

In other Organon & Co. news, insider Kirke Weaver purchased 8,045 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was purchased at an average cost of $9.21 per share, with a total value of $74,094.45. Following the completion of the acquisition, the insider directly owned 52,489 shares of the company’s stock, valued at $483,423.69. This trade represents a 18.10% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kevin Ali bought 34,000 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The stock was bought at an average cost of $8.80 per share, for a total transaction of $299,200.00. Following the completion of the transaction, the chief executive officer directly owned 282,731 shares in the company, valued at approximately $2,488,032.80. The trade was a 13.67% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 102,345 shares of company stock valued at $902,430 over the last quarter. Corporate insiders own 1.40% of the company’s stock.

Institutional Trading of Organon & Co.

Several institutional investors and hedge funds have recently bought and sold shares of OGN. Hanson & Doremus Investment Management acquired a new position in Organon & Co. during the second quarter worth $26,000. Millstone Evans Group LLC purchased a new stake in Organon & Co. during the 4th quarter worth about $29,000. Ransom Advisory Ltd purchased a new stake in shares of Organon & Co. in the first quarter valued at $32,000. GeoWealth Management LLC acquired a new position in shares of Organon & Co. in the 4th quarter valued at $41,000. Finally, Brooklyn Investment Group increased its position in Organon & Co. by 1,012.3% during the 1st quarter. Brooklyn Investment Group now owns 3,070 shares of the company’s stock worth $46,000 after purchasing an additional 2,794 shares in the last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Organon & Co. Stock Performance

NYSE OGN opened at $9.46 on Monday. Organon & Co. has a fifty-two week low of $8.01 and a fifty-two week high of $23.10. The firm has a market capitalization of $2.46 billion, a P/E ratio of 3.28, a PEG ratio of 0.98 and a beta of 0.60. The stock has a 50-day simple moving average of $9.52 and a two-hundred day simple moving average of $12.49. The company has a debt-to-equity ratio of 16.49, a quick ratio of 1.15 and a current ratio of 1.67.

Organon & Co. (NYSE:OGN) last posted its earnings results on Thursday, May 1st. The company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.13. The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Organon & Co. had a return on equity of 227.43% and a net margin of 11.92%. The company’s quarterly revenue was down 6.7% on a year-over-year basis. During the same period last year, the firm earned $1.22 EPS. On average, equities analysts forecast that Organon & Co. will post 3.68 earnings per share for the current year.

Organon & Co. Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 12th. Stockholders of record on Monday, May 12th were issued a $0.02 dividend. The ex-dividend date was Monday, May 12th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.85%. Organon & Co.’s payout ratio is 2.78%.

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.