TD Cowen Upgrades Organon & Co. (NYSE:OGN) to Hold

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

Separately, Evercore ISI raised shares of Organon & Co. to a “strong-buy” rating in a report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to 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 %

OGN stock opened at $15.77 on Wednesday. Organon & Co. has a twelve month low of $13.87 and a twelve month high of $23.10. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73. The company has a market cap of $4.06 billion, a PE ratio of 3.13, a price-to-earnings-growth ratio of 0.86 and a beta of 0.76. The business’s 50-day simple moving average is $15.32 and its 200 day simple 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 the consensus estimate of $0.90 by ($0.03). The firm had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.56 billion. Organon & Co. had a return on equity of 644.70% and a net margin of 20.30%. Organon & Co.’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.78 EPS. On average, research analysts anticipate that Organon & Co. will post 3.89 earnings per share for the current year.

Organon & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Tuesday, November 12th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 7.10%. The ex-dividend date was Tuesday, November 12th. Organon & Co.’s dividend payout ratio (DPR) is 22.22%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in OGN. Weiss Asset Management LP acquired a new stake in shares of Organon & Co. during the 3rd quarter worth about $32,966,000. AQR Capital Management LLC grew its stake in Organon & Co. by 39.8% during the second quarter. AQR Capital Management LLC now owns 3,473,655 shares of the company’s stock worth $71,905,000 after buying an additional 988,336 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Organon & Co. by 303.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,242,135 shares of the company’s stock worth $23,762,000 after buying an additional 934,505 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Organon & Co. by 35.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,323,051 shares of the company’s stock valued at $63,570,000 after acquiring an additional 875,128 shares during the last quarter. Finally, Philip James Wealth Mangement LLC acquired a new position in shares of Organon & Co. in the 3rd quarter worth approximately $15,386,000. 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.