Morgan Stanley Has Lowered Expectations for Organon & Co. (NYSE:OGN) Stock Price

Organon & Co. (NYSE:OGN) had its price objective trimmed by Morgan Stanley from $16.00 to $15.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other research firms also recently commented on OGN. Barclays lowered their target price on shares of Organon & Co. from $26.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. TD Cowen raised Organon & Co. to a “hold” rating in a report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Organon & Co. has a consensus rating of “Hold” and a consensus price target of $20.60.

Organon & Co. Stock Down 9.0 %

NYSE OGN traded down $1.14 on Wednesday, reaching $11.50. The stock had a trading volume of 2,749,205 shares, compared to its average volume of 2,632,296. Organon & Co. has a 1 year low of $11.05 and a 1 year high of $23.10. The business has a 50 day moving average price of $14.78 and a 200 day moving average price of $15.78. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 17.73. The company has a market capitalization of $2.97 billion, a price-to-earnings ratio of 3.45, a P/E/G ratio of 0.90 and a beta of 0.73.

Organon & Co. (NYSE:OGN) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.09). The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.57 billion. Organon & Co. had a return on equity of 431.62% and a net margin of 13.49%. On average, analysts forecast that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Monday, February 24th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 9.74%. The ex-dividend date of this dividend was Monday, February 24th. Organon & Co.’s dividend payout ratio is 33.63%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Organon & Co. by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 30,401,709 shares of the company’s stock worth $453,593,000 after acquiring an additional 218,165 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of Organon & Co. by 94,482.1% during the 4th quarter. Pacer Advisors Inc. now owns 11,152,179 shares of the company’s stock worth $166,391,000 after buying an additional 11,140,388 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Organon & Co. by 1.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 9,895,067 shares of the company’s stock valued at $147,634,000 after acquiring an additional 136,760 shares during the last quarter. LSV Asset Management boosted its stake in Organon & Co. by 0.4% during the 4th quarter. LSV Asset Management now owns 7,525,076 shares of the company’s stock worth $112,274,000 after acquiring an additional 30,557 shares during the last quarter. Finally, Deprince Race & Zollo Inc. grew its holdings in Organon & Co. by 7.0% during the fourth quarter. Deprince Race & Zollo Inc. now owns 4,729,258 shares of the company’s stock valued at $70,561,000 after purchasing an additional 308,267 shares during the period. 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.