Morgan Stanley Lowers Organon & Co. (NYSE:OGN) Price Target to $16.00

Organon & Co. (NYSE:OGN) had its price objective lowered by Morgan Stanley from $17.00 to $16.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Separately, TD Cowen raised Organon & Co. to a “hold” rating in a research report on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $20.80.

Organon & Co. Price Performance

NYSE OGN opened at $15.30 on Friday. The business has a 50 day simple moving average of $15.35 and a 200 day simple moving average of $17.42. Organon & Co. has a 52-week low of $13.87 and a 52-week high of $23.10. The company has a debt-to-equity ratio of 17.73, a quick ratio of 1.21 and a current ratio of 1.70. The stock has a market cap of $3.94 billion, a price-to-earnings ratio of 3.03, a PEG ratio of 0.83 and a beta of 0.76.

Organon & Co. (NYSE:OGN) last posted its earnings results on Thursday, February 13th. The company reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.09). Organon & Co. had a return on equity of 644.70% and a net margin of 20.30%. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.57 billion. Analysts anticipate that Organon & Co. will post 3.82 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Monday, February 24th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 7.32%. The ex-dividend date of this dividend is Monday, February 24th. Organon & Co.’s dividend payout ratio (DPR) is currently 22.22%.

Hedge Funds Weigh In On Organon & Co.

Large investors have recently bought and sold shares of the company. Prospera Private Wealth LLC acquired a new position in Organon & Co. during the 3rd quarter worth approximately $25,000. Horizon Bancorp Inc. IN boosted 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 valued at $25,000 after buying an additional 1,585 shares during the last quarter. Millstone Evans Group LLC acquired a new stake in shares of Organon & Co. in the 4th quarter valued at approximately $29,000. Larson Financial Group LLC boosted its holdings in shares of Organon & Co. by 345.4% in the 4th quarter. Larson Financial Group LLC now owns 2,236 shares of the company’s stock valued at $33,000 after buying an additional 1,734 shares during the last quarter. Finally, Riverview Trust Co boosted its holdings 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 buying an additional 1,292 shares during the last quarter. Institutional investors and hedge funds 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.