Brokerages Set Organon & Co. (NYSE:OGN) PT at $11.40

Organon & Co. (NYSE:OGN) has been given a consensus rating of “Reduce” by the seven ratings firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $11.40.

OGN has been the topic of a number of recent analyst reports. Piper Sandler upgraded shares of Organon & Co. from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $5.00 to $14.00 in a research report on Tuesday, April 28th. Weiss Ratings lowered shares of Organon & Co. from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday. BNP Paribas Exane reiterated a “neutral” rating and issued a $14.00 target price (up from $12.00) on shares of Organon & Co. in a research note on Wednesday, April 29th. Finally, Zacks Research raised Organon & Co. from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 14th.

Institutional Trading of Organon & Co.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its position in Organon & Co. by 105.2% in the 4th quarter. AQR Capital Management LLC now owns 8,570,958 shares of the company’s stock valued at $61,282,000 after buying an additional 4,394,814 shares during the last quarter. UBS Group AG boosted its position in Organon & Co. by 55.2% during the 4th quarter. UBS Group AG now owns 4,295,002 shares of the company’s stock worth $30,795,000 after acquiring an additional 1,527,492 shares during the last quarter. First Trust Advisors LP boosted its position in Organon & Co. by 78.1% during the 1st quarter. First Trust Advisors LP now owns 3,227,320 shares of the company’s stock worth $19,332,000 after acquiring an additional 1,415,239 shares during the last quarter. Private Management Group Inc. grew its stake in shares of Organon & Co. by 38.3% during the 4th quarter. Private Management Group Inc. now owns 4,347,073 shares of the company’s stock worth $31,169,000 after acquiring an additional 1,204,979 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its stake in shares of Organon & Co. by 102.1% during the 3rd quarter. Balyasny Asset Management L.P. now owns 2,240,149 shares of the company’s stock worth $23,925,000 after acquiring an additional 1,131,941 shares in the last quarter. 77.43% of the stock is currently owned by institutional investors and hedge funds.

Organon & Co. Trading Up 0.1%

Organon & Co. stock opened at $13.57 on Thursday. Organon & Co. has a 12 month low of $5.69 and a 12 month high of $13.60. The stock has a market cap of $3.56 billion, a price-to-earnings ratio of 17.63, a price-to-earnings-growth ratio of 1.26 and a beta of 1.55. The business has a 50 day moving average price of $13.48 and a two-hundred day moving average price of $10.52. The company has a quick ratio of 1.42, a current ratio of 1.95 and a debt-to-equity ratio of 8.43.

Organon & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 14th will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, August 14th. Organon & Co.’s dividend payout ratio is 10.39%.

Organon & Co. Company Profile

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.