Barclays Cuts Organon & Co. (NYSE:OGN) Price Target to $24.00

Organon & Co. (NYSE:OGN) had its price objective trimmed by Barclays from $26.00 to $24.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities analysts have also recently commented on the stock. Morgan Stanley lowered their target price on shares of Organon & Co. from $17.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Friday. TD Cowen raised shares of Organon & Co. to a “hold” rating in a research note on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Organon & Co. currently has an average rating of “Hold” and a consensus target price of $20.80.

Organon & Co. Stock Performance

NYSE:OGN opened at $15.30 on Friday. 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 company has a market cap of $3.94 billion, a P/E ratio of 3.03, a P/E/G ratio of 0.83 and a beta of 0.76. Organon & Co. has a fifty-two week low of $13.87 and a fifty-two week high of $23.10. The firm’s 50 day moving average is $15.35 and its two-hundred day moving average is $17.42.

Organon & Co. (NYSE:OGN) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.83 earnings per share 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 company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Analysts expect that Organon & Co. will post 3.82 EPS for the current year.

Organon & Co. Announces Dividend

The firm also recently disclosed 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 of this dividend is Monday, February 24th. This represents a $1.12 annualized dividend and a dividend yield of 7.32%. Organon & Co.’s dividend payout ratio is currently 22.22%.

Hedge Funds Weigh In On Organon & Co.

Several hedge funds have recently made changes to their positions in OGN. SG Americas Securities LLC grew its stake in shares of Organon & Co. by 161.1% in the 3rd quarter. SG Americas Securities LLC now owns 22,689 shares of the company’s stock worth $434,000 after purchasing an additional 14,000 shares during the last quarter. SeaCrest Wealth Management LLC grew its stake in shares of Organon & Co. by 32.7% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 16,218 shares of the company’s stock worth $310,000 after purchasing an additional 3,999 shares during the last quarter. nVerses Capital LLC acquired a new position in shares of Organon & Co. in the 3rd quarter worth approximately $260,000. Trust Co. of Vermont grew its stake in shares of Organon & Co. by 109.4% in the 3rd quarter. Trust Co. of Vermont now owns 2,626 shares of the company’s stock worth $50,000 after purchasing an additional 1,372 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Organon & Co. by 217.5% in the 3rd quarter. Blue Trust Inc. now owns 3,661 shares of the company’s stock worth $76,000 after purchasing an additional 2,508 shares during the last quarter. Institutional investors and hedge funds own 77.43% of the company’s stock.

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.