Organon & Co. (NYSE:OGN) Rating Lowered to Inline at Evercore ISI

Evercore ISI lowered shares of Organon & Co. (NYSE:OGN) from an outperform rating to an inline rating in a research report released on Friday, MarketBeat.com reports.

Several other research firms have also issued reports on OGN. TD Cowen raised Organon & Co. to a “hold” rating in a report on Wednesday, January 15th. Morgan Stanley decreased their price target on Organon & Co. from $16.00 to $15.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 9th. Finally, Barclays cut their target price on Organon & Co. from $26.00 to $24.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $19.67.

Organon & Co. Price Performance

Shares of NYSE OGN opened at $9.60 on Friday. Organon & Co. has a twelve month low of $9.18 and a twelve month high of $23.10. The company has a 50 day moving average of $13.46 and a 200 day moving average of $14.92. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73. The firm has a market cap of $2.50 billion, a P/E ratio of 2.88, a PEG ratio of 0.90 and a beta of 0.73.

Organon & Co. (NYSE:OGN) last posted its quarterly earnings data on Thursday, May 1st. The company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.13. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Organon & Co. had a return on equity of 431.62% and a net margin of 13.49%. Organon & Co.’s revenue for the quarter was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.22 earnings per share. As a group, research analysts expect that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Monday, May 12th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Monday, May 12th. Organon & Co.’s payout ratio is 33.63%.

Institutional Investors Weigh In On Organon & Co.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OGN. Horizon Bancorp Inc. IN increased its position in Organon & Co. by 2,401.5% during the fourth quarter. Horizon Bancorp Inc. IN now owns 1,651 shares of the company’s stock valued at $25,000 after acquiring an additional 1,585 shares during the last quarter. Millstone Evans Group LLC bought a new position in Organon & Co. in the 4th quarter worth about $29,000. Larson Financial Group LLC boosted its holdings in shares of Organon & Co. by 345.4% in the fourth quarter. Larson Financial Group LLC now owns 2,236 shares of the company’s stock valued at $33,000 after purchasing an additional 1,734 shares during the period. Riverview Trust Co grew its stake in Organon & Co. by 117.7% in the fourth quarter. Riverview Trust Co now owns 2,390 shares of the company’s stock worth $36,000 after purchasing an additional 1,292 shares in the last quarter. Finally, GeoWealth Management LLC bought a new stake in Organon & Co. during the 4th quarter valued at $41,000. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

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.