Organon & Co. (NYSE:OGN) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Organon & Co. (NYSE:OGN) from a hold rating to a sell rating in a report released on Wednesday, Zacks.com reports.

According to Zacks, “Organon is a healthcare company. It focuses on the health of women throughout their lives. Organon is based in JERSEY CITY, N.J. “

Separately, Piper Sandler initiated coverage on Organon & Co. in a research report on Thursday, October 7th. They issued a neutral rating and a $35.00 target price on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Hold and an average price target of $39.33.

NYSE:OGN opened at $32.86 on Wednesday. Organon & Co. has a 52 week low of $27.25 and a 52 week high of $38.75. The stock’s fifty day moving average is $31.20 and its two-hundred day moving average is $32.24.

Organon & Co. (NYSE:OGN) last posted its earnings results on Thursday, November 11th. The company reported $1.67 EPS for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.23. Organon & Co. had a return on equity of 92.31% and a net margin of 19.26%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. On average, research analysts predict that Organon & Co. will post 6.21 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, December 16th. Investors of record on Monday, November 22nd were paid a dividend of $0.28 per share. The ex-dividend date was Friday, November 19th. This represents a $1.12 annualized dividend and a yield of 3.41%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. acquired a new position in Organon & Co. during the 2nd quarter worth $874,885,000. BlackRock Inc. grew its stake in Organon & Co. by 0.7% during the 3rd quarter. BlackRock Inc. now owns 16,618,154 shares of the company’s stock worth $544,908,000 after purchasing an additional 114,659 shares in the last quarter. State Street Corp acquired a new position in Organon & Co. during the 2nd quarter worth $256,763,000. Massachusetts Financial Services Co. MA acquired a new position in shares of Organon & Co. during the 2nd quarter worth about $174,956,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Organon & Co. by 25.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 5,298,787 shares of the company’s stock worth $173,749,000 after acquiring an additional 1,058,652 shares in the last quarter. 66.81% of the stock is owned by hedge funds and other institutional investors.

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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