Organon & Co. (NYSE:OGN) Price Target Increased to $24.00 by Analysts at Piper Sandler

Organon & Co. (NYSE:OGN) had its price target upped by Piper Sandler from $22.00 to $24.00 in a research note published on Monday, Benzinga reports. They currently have an overweight rating on the stock.

Separately, The Goldman Sachs Group lifted their price objective on shares of Organon & Co. from $16.00 to $18.00 and gave the company a neutral rating in a research report on Tuesday, February 20th.

Organon & Co. Stock Performance

Shares of OGN opened at $18.90 on Monday. Organon & Co. has a fifty-two week low of $10.84 and a fifty-two week high of $24.79. The firm has a 50-day simple moving average of $18.14 and a 200-day simple moving average of $15.69. The company has a market capitalization of $4.86 billion, a price-to-earnings ratio of 4.73, a price-to-earnings-growth ratio of 0.88 and a beta of 0.82.

Organon & Co. (NYSE:OGN) last posted its quarterly earnings data on Thursday, February 15th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.14. Organon & Co. had a negative return on equity of 212.00% and a net margin of 16.33%. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Equities research analysts forecast that Organon & Co. will post 4.08 EPS for the current year.

Organon & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Monday, February 26th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 5.93%. The ex-dividend date was Friday, February 23rd. Organon & Co.’s dividend payout ratio is presently 28.00%.

Insiders Place Their Bets

In other Organon & Co. news, insider Kirke Weaver purchased 2,720 shares of Organon & Co. stock in a transaction dated Thursday, February 22nd. The stock was acquired at an average cost of $18.36 per share, with a total value of $49,939.20. Following the acquisition, the insider now directly owns 15,181 shares of the company’s stock, valued at $278,723.16. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 1.17% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Organon & Co.

A number of institutional investors and hedge funds have recently made changes to their positions in OGN. Lindbrook Capital LLC boosted its holdings in Organon & Co. by 348.3% during the fourth quarter. Lindbrook Capital LLC now owns 1,838 shares of the company’s stock worth $27,000 after buying an additional 1,428 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its position in shares of Organon & Co. by 495.5% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,602 shares of the company’s stock valued at $28,000 after acquiring an additional 1,333 shares during the period. Gladius Capital Management LP boosted its stake in shares of Organon & Co. by 65.1% during the 4th quarter. Gladius Capital Management LP now owns 2,176 shares of the company’s stock worth $31,000 after acquiring an additional 858 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Organon & Co. during the 3rd quarter worth approximately $35,000. Finally, GAMMA Investing LLC acquired a new stake in shares of Organon & Co. in the 4th quarter worth approximately $38,000. 77.43% of the stock is owned by institutional investors and hedge funds.

Organon & Co. Company Profile

Organon & Co develops and delivers health solutions through a portfolio of prescription therapies and medical devices within women's health in the United States and internationally. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon, a long-acting reversible contraceptive; NuvaRing, a monthly vaginal contraceptive ring; Cerazette, a daily pill used to prevent pregnancy; Marvelon, progestin and estrogen used as daily pills to prevent pregnancy; Follistim AQ, used to promote the development of multiple ovarian follicles in assisted reproduction technology procedures; Elonva, an ovarian follicle stimulant; Ganirelix Acetate Injection, an injectable antagonist; and Jada, for abnormal postpartum uterine bleeding or hemorrhage.