Zacks Investment Research Lowers Organon & Co. (NYSE:OGN) to Hold

Organon & Co. (NYSE:OGN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

Several other equities analysts have also issued reports on the company. JPMorgan Chase & Co. assumed coverage on Organon & Co. in a research note on Tuesday, June 15th. They set a “neutral” rating and a $38.00 price target on the stock. Morgan Stanley boosted their target price on Organon & Co. from $33.00 to $35.00 and gave the stock an “equal weight” rating in a report on Monday, August 16th. Citigroup upped their price objective on Organon & Co. from $35.00 to $43.00 and gave the stock a “buy” rating in a report on Wednesday, August 18th. Cowen assumed coverage on Organon & Co. in a research note on Thursday, June 3rd. They issued a “market perform” rating and a $40.00 price target on the stock. Finally, Evercore ISI assumed coverage on Organon & Co. in a research note on Thursday, June 10th. They issued an “outperform” rating on the stock. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Organon & Co. presently has a consensus rating of “Hold” and an average target price of $40.00.

Shares of Organon & Co. stock opened at $32.94 on Tuesday. Organon & Co. has a 1-year low of $27.25 and a 1-year high of $38.75. The firm’s fifty day simple moving average is $32.10.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings results on Thursday, August 12th. The company reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.23.

In other Organon & Co. news, Director Ma. Fatima Francisco acquired 3,000 shares of Organon & Co. stock in a transaction dated Thursday, August 19th. The stock was bought at an average cost of $33.79 per share, for a total transaction of $101,370.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.

A number of large investors have recently modified their holdings of OGN. Vanguard Group Inc. bought a new position in shares of Organon & Co. during the second quarter worth approximately $874,885,000. BlackRock Inc. bought a new position in shares of Organon & Co. during the second quarter worth approximately $499,395,000. State Street Corp bought a new position in shares of Organon & Co. during the second quarter worth approximately $256,763,000. Massachusetts Financial Services Co. MA bought a new position in shares of Organon & Co. during the second quarter worth approximately $174,956,000. Finally, Geode Capital Management LLC bought a new position in shares of Organon & Co. during the second quarter worth approximately $153,217,000.

Organon & Co. Company Profile

Organon & Co, a science-based pharmaceutical company, develops and delivers health solutions through a portfolio of prescription therapies within women's health, biosimilars, and established brands. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon/Implanon, a long-acting reversible contraceptive.

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Analyst Recommendations for Organon & Co. (NYSE:OGN)

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