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

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

Separately, TD Cowen upgraded shares of Organon & Co. to a “hold” rating in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Organon & Co. presently has an average rating of “Hold” and an average target price of $20.80.

Organon & Co. Stock Down 6.3 %

Shares of NYSE OGN opened at $15.30 on Friday. The firm’s 50-day simple moving average is $15.35 and its 200 day simple moving average is $17.42. The company has a market cap of $3.94 billion, a price-to-earnings ratio of 3.03, a price-to-earnings-growth ratio of 0.83 and a beta of 0.76. 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 $13.87 and a 12-month high of $23.10.

Organon & Co. (NYSE:OGN) last released 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 net margin of 20.30% and a return on equity of 644.70%. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.57 billion. On average, research analysts expect that Organon & Co. will post 3.82 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

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

Institutional Trading of Organon & Co.

A number of institutional investors and hedge funds have recently modified their holdings of OGN. Prospera Private Wealth LLC bought a new stake in shares of Organon & Co. in the 3rd quarter valued at about $25,000. Horizon Bancorp Inc. IN increased its stake 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 acquiring an additional 1,585 shares during the last quarter. Millstone Evans Group LLC bought a new stake in shares of Organon & Co. in the 4th quarter valued at about $29,000. Larson Financial Group LLC increased its stake 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 acquiring an additional 1,734 shares during the last quarter. Finally, Riverview Trust Co increased 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 acquiring an additional 1,292 shares during the last quarter. 77.43% of the stock is owned by institutional investors.

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.