Morgan Stanley Issues Pessimistic Forecast for Organon & Co. (NYSE:OGN) Stock Price

Organon & Co. (NYSE:OGN) had its price objective decreased by analysts at Morgan Stanley from $15.00 to $10.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 9.29% from the stock’s previous close.

Other analysts have also issued research reports about the company. Barclays lowered their target price on Organon & Co. from $26.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Evercore ISI downgraded shares of Organon & Co. from an “outperform” rating to an “inline” rating in a research note on Friday, May 2nd. Finally, TD Cowen raised shares of Organon & Co. to a “hold” rating in a research report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $18.00.

Organon & Co. Trading Up 4.9 %

NYSE:OGN opened at $9.15 on Monday. The company’s 50 day moving average is $13.21 and its 200-day moving average is $14.82. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73. Organon & Co. has a 12 month low of $8.05 and a 12 month high of $23.10. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 2.75, a P/E/G ratio of 0.90 and a beta of 0.75.

Organon & Co. (NYSE:OGN) last announced its earnings results on Thursday, May 1st. The company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.89 by $0.13. Organon & Co. had a net margin of 13.49% and a return on equity of 431.62%. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the firm posted $1.22 EPS. The business’s quarterly revenue was down 6.7% on a year-over-year basis. Equities analysts anticipate that Organon & Co. will post 3.68 EPS for the current year.

Insider Transactions at Organon & Co.

In other Organon & Co. news, CFO Matthew M. Walsh purchased 11,400 shares of the firm’s stock in a transaction on Monday, May 5th. The shares were purchased at an average price of $8.82 per share, for a total transaction of $100,548.00. Following the completion of the purchase, the chief financial officer now directly owns 144,484 shares of the company’s stock, valued at approximately $1,274,348.88. This represents a 8.57 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kevin Ali purchased 34,000 shares of the stock in a transaction on Monday, May 5th. The stock was acquired at an average cost of $8.80 per share, for a total transaction of $299,200.00. Following the acquisition, the chief executive officer now directly owns 282,731 shares in the company, valued at approximately $2,488,032.80. This trade represents a 13.67 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 90,800 shares of company stock valued at $799,496. 1.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in OGN. Horizon Bancorp Inc. IN raised its holdings in shares of Organon & Co. by 2,401.5% in the 4th quarter. Horizon Bancorp Inc. IN now owns 1,651 shares of the company’s stock worth $25,000 after buying an additional 1,585 shares in the last quarter. Millstone Evans Group LLC acquired a new position in Organon & Co. during the fourth quarter worth $29,000. Larson Financial Group LLC lifted its holdings in shares of Organon & Co. by 345.4% during the fourth quarter. Larson Financial Group LLC now owns 2,236 shares of the company’s stock valued at $33,000 after acquiring an additional 1,734 shares during the period. Riverview Trust Co boosted its stake in shares of Organon & Co. by 117.7% in the 4th quarter. Riverview Trust Co now owns 2,390 shares of the company’s stock valued at $36,000 after purchasing an additional 1,292 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of Organon & Co. by 92.2% in the 4th quarter. Versant Capital Management Inc now owns 2,760 shares of the company’s stock worth $41,000 after purchasing an additional 1,324 shares during the last quarter. Institutional investors own 77.43% of the company’s stock.

About Organon & Co.

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.