Organon & Co. (NYSE:OGN) Price Target Cut to $10.00 by Analysts at Morgan Stanley

Organon & Co. (NYSE:OGN) had its price objective reduced by analysts at Morgan Stanley from $15.00 to $10.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 12.93% from the company’s previous close.

OGN has been the topic of several other research reports. Barclays cut their price objective on Organon & Co. from $26.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. TD Cowen upgraded shares of Organon & Co. to a “hold” rating in a report on Wednesday, January 15th. Finally, Evercore ISI lowered shares of Organon & Co. from an “outperform” rating to an “inline” rating in a report on Friday. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $18.00.

Organon & Co. Trading Down 7.7 %

NYSE:OGN traded down $0.74 during trading hours on Monday, hitting $8.86. The stock had a trading volume of 3,770,962 shares, compared to its average volume of 2,901,070. The business’s 50 day moving average is $13.46 and its 200-day moving average is $14.92. 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 company has a market cap of $2.30 billion, a price-to-earnings ratio of 2.67, a P/E/G ratio of 0.90 and a beta of 0.73. Organon & Co. has a one year low of $8.82 and a one year high of $23.10.

Organon & Co. (NYSE:OGN) last released its quarterly earnings data on Thursday, May 1st. The company reported $1.02 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.13. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.53 billion. Organon & Co. had a net margin of 13.49% and a return on equity of 431.62%. The firm’s quarterly revenue was down 6.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.22 EPS. Sell-side analysts anticipate that Organon & Co. will post 3.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Barclays PLC lifted its position in Organon & Co. by 238.0% during the 3rd quarter. Barclays PLC now owns 119,483 shares of the company’s stock worth $2,285,000 after buying an additional 84,136 shares in the last quarter. Robeco Institutional Asset Management B.V. bought a new position in Organon & Co. in the fourth quarter valued at approximately $2,263,000. Wedmont Private Capital boosted its holdings in shares of Organon & Co. by 453.4% in the 4th quarter. Wedmont Private Capital now owns 100,539 shares of the company’s stock valued at $1,594,000 after buying an additional 82,372 shares during the last quarter. Sippican Capital Advisors boosted its holdings in shares of Organon & Co. by 138.7% in the 4th quarter. Sippican Capital Advisors now owns 36,352 shares of the company’s stock valued at $542,000 after buying an additional 21,122 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in Organon & Co. by 28.6% during the fourth quarter. Wells Fargo & Company MN now owns 262,746 shares of the company’s stock worth $3,920,000 after buying an additional 58,378 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.