Organon & Co. (NYSE:OGN) Downgraded to Strong Sell Rating by Zacks Research

Zacks Research downgraded shares of Organon & Co. (NYSE:OGN) from a hold rating to a strong sell rating in a research note released on Thursday morning,Zacks.com reports.

Several other research analysts have also weighed in on the stock. Piper Sandler lowered shares of Organon & Co. from an “overweight” rating to an “underweight” rating and set a $5.00 price objective on the stock. in a research note on Monday, October 27th. Barclays assumed coverage on Organon & Co. in a research report on Tuesday, December 9th. They set an “underweight” rating and a $7.50 price target on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Organon & Co. in a research report on Wednesday, October 8th. Wall Street Zen lowered Organon & Co. from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Morgan Stanley cut their price target on Organon & Co. from $10.00 to $9.00 and set an “equal weight” rating for the company in a report on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Organon & Co. has a consensus rating of “Reduce” and an average target price of $8.38.

Organon & Co. Trading Down 1.0%

Shares of Organon & Co. stock opened at $8.51 on Thursday. The stock has a market cap of $2.21 billion, a P/E ratio of 4.43, a P/E/G ratio of 1.84 and a beta of 0.58. The company has a quick ratio of 1.20, a current ratio of 1.75 and a debt-to-equity ratio of 9.69. Organon & Co. has a 12-month low of $6.18 and a 12-month high of $17.23. The business’s 50 day moving average is $7.80 and its 200-day moving average is $8.73.

Organon & Co. (NYSE:OGN) last issued its earnings results on Monday, November 10th. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.08. Organon & Co. had a net margin of 7.95% and a return on equity of 143.47%. The business had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same period in the previous year, the company earned $1.38 earnings per share. Equities research analysts predict that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Thursday, November 20th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend was Thursday, November 20th. Organon & Co.’s dividend payout ratio is currently 4.17%.

Institutional Investors Weigh In On Organon & Co.

A number of hedge funds and other institutional investors have recently modified their holdings of OGN. State of New Jersey Common Pension Fund D raised its position in Organon & Co. by 69.0% during the second quarter. State of New Jersey Common Pension Fund D now owns 216,737 shares of the company’s stock valued at $2,098,000 after purchasing an additional 88,454 shares in the last quarter. Sector Gamma AS acquired a new stake in shares of Organon & Co. in the 3rd quarter valued at $5,807,000. Bryce Point Capital LLC bought a new position in shares of Organon & Co. in the 2nd quarter valued at $465,000. Coldstream Capital Management Inc. raised its holdings in shares of Organon & Co. by 61.6% during the 2nd quarter. Coldstream Capital Management Inc. now owns 22,686 shares of the company’s stock worth $220,000 after buying an additional 8,644 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Organon & Co. by 1,205.1% during the 2nd quarter. American Century Companies Inc. now owns 522,013 shares of the company’s stock worth $5,053,000 after buying an additional 482,016 shares during the last quarter. Institutional investors and hedge funds own 77.43% of the company’s stock.

Organon & Co. Company Profile

Organon & Co is a global healthcare company that was established as an independent, publicly traded entity following its spin-off from Merck & Co in June 2021. Headquartered in Jersey City, New Jersey, Organon focuses on delivering therapeutic solutions across women’s health, biosimilars, and established brands. The company’s creation reflected a strategic effort to concentrate on specialty pharmaceuticals and legacy products with proven patient impact.

In women’s health, Organon provides a broad portfolio of products addressing reproductive and gynecological conditions, including fertility treatments, contraception, and hormone replacement therapies.