Organon & Co. (NYSE:OGN) Upgraded at TD Cowen

TD Cowen upgraded shares of Organon & Co. (NYSE:OGN) to a hold rating in a research report sent to investors on Wednesday,Zacks.com reports.

Separately, Evercore ISI raised shares of Organon & Co. to a “strong-buy” rating in a research note on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $21.33.

Organon & Co. Stock Down 2.6 %

NYSE:OGN opened at $15.77 on Wednesday. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 17.73. Organon & Co. has a twelve month low of $13.87 and a twelve month high of $23.10. The company has a market cap of $4.06 billion, a PE ratio of 3.13, a P/E/G ratio of 0.86 and a beta of 0.76. The company’s 50 day moving average is $15.32 and its two-hundred day moving average is $18.24.

Organon & Co. (NYSE:OGN) last announced its quarterly earnings data on Thursday, October 31st. The company reported $0.87 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.03). Organon & Co. had a net margin of 20.30% and a return on equity of 644.70%. The firm had revenue of $1.58 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same period in the prior year, the company posted $0.78 earnings per share. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. Analysts anticipate that Organon & Co. will post 3.89 EPS for the current year.

Organon & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 12th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $1.12 annualized dividend and a yield of 7.10%. Organon & Co.’s dividend payout ratio is presently 22.22%.

Hedge Funds Weigh In On Organon & Co.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Prospera Private Wealth LLC purchased a new stake in shares of Organon & Co. in the 3rd quarter valued at approximately $25,000. William B. Walkup & Associates Inc. purchased a new position in Organon & Co. in the second quarter worth approximately $31,000. Horizon Bancorp Inc. IN increased its stake in Organon & Co. by 2,401.5% during the fourth quarter. Horizon Bancorp Inc. IN now owns 1,651 shares of the company’s stock worth $25,000 after acquiring an additional 1,585 shares during the last quarter. Abich Financial Wealth Management LLC raised its position in Organon & Co. by 5,646.3% in the third quarter. Abich Financial Wealth Management LLC now owns 2,356 shares of the company’s stock valued at $45,000 after purchasing an additional 2,315 shares during the period. Finally, Trust Co. of Vermont lifted its stake in shares of Organon & Co. by 109.4% in the 3rd quarter. Trust Co. of Vermont now owns 2,626 shares of the company’s stock valued at $50,000 after purchasing an additional 1,372 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.