Organon & Co. (NYSE:OGN) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Organon & Co. (NYSE:OGN) from a hold rating to a buy rating in a research report report published on Saturday.

OGN has been the topic of several other reports. Piper Sandler lowered shares of Organon & Co. from an “overweight” rating to an “underweight” rating and set a $5.00 price objective on the stock. in a report on Monday, October 27th. Weiss Ratings reissued a “sell (d+)” rating on shares of Organon & Co. in a research report on Wednesday, October 8th. JPMorgan Chase & Co. dropped their price objective on shares of Organon & Co. from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Tuesday, November 11th. Barclays initiated coverage on shares of Organon & Co. in a report on Tuesday, December 9th. They set an “underweight” rating and a $7.50 target price on the stock. Finally, Morgan Stanley decreased their price target on shares of Organon & Co. from $10.00 to $9.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $8.38.

Organon & Co. Stock Up 1.0%

Shares of NYSE OGN opened at $7.25 on Friday. The company has a market capitalization of $1.88 billion, a P/E ratio of 3.77, a P/E/G ratio of 1.50 and a beta of 0.58. The company has a debt-to-equity ratio of 9.69, a current ratio of 1.75 and a quick ratio of 1.20. The company has a 50 day simple moving average of $7.16 and a 200-day simple moving average of $8.89. Organon & Co. has a 1 year low of $6.18 and a 1 year high of $17.23.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings data on Monday, November 10th. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.08. The company had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.57 billion. Organon & Co. had a return on equity of 143.47% and a net margin of 7.95%.During the same period in the prior year, the business posted $1.38 earnings per share. On average, equities research analysts predict that Organon & Co. will post 3.68 earnings per share for the current year.

Organon & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Stockholders of record on Thursday, November 20th were given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Thursday, November 20th. Organon & Co.’s payout ratio is 4.17%.

Hedge Funds Weigh In On Organon & Co.

Several large investors have recently bought and sold shares of OGN. Vanguard Group Inc. lifted its holdings in Organon & Co. by 11.3% during the 3rd quarter. Vanguard Group Inc. now owns 35,928,403 shares of the company’s stock worth $383,715,000 after buying an additional 3,650,860 shares during the last quarter. Norges Bank acquired a new position in Organon & Co. in the second quarter valued at approximately $19,778,000. AQR Capital Management LLC increased its stake in Organon & Co. by 136.1% in the second quarter. AQR Capital Management LLC now owns 3,254,884 shares of the company’s stock valued at $31,507,000 after purchasing an additional 1,876,264 shares during the last quarter. Balyasny Asset Management L.P. raised its holdings in Organon & Co. by 102.1% during the third quarter. Balyasny Asset Management L.P. now owns 2,240,149 shares of the company’s stock worth $23,925,000 after purchasing an additional 1,131,941 shares in the last quarter. Finally, Gotham Asset Management LLC raised its holdings in Organon & Co. by 37.2% during the third quarter. Gotham Asset Management LLC now owns 3,713,204 shares of the company’s stock worth $39,657,000 after purchasing an additional 1,007,691 shares in the last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.

About Organon & Co.

Organon & Co is a global healthcare company that was established as an independent, publicly traded entity following its spin-off from Merck & Co in June 2021. Headquartered in Jersey City, New Jersey, Organon focuses on delivering therapeutic solutions across women’s health, biosimilars, and established brands. The company’s creation reflected a strategic effort to concentrate on specialty pharmaceuticals and legacy products with proven patient impact.

In women’s health, Organon provides a broad portfolio of products addressing reproductive and gynecological conditions, including fertility treatments, contraception, and hormone replacement therapies.