Barclays Initiates Coverage on Organon & Co. (NYSE:OGN)

Equities researchers at Barclays began coverage on shares of Organon & Co. (NYSE:OGN) in a note issued to investors on Tuesday, MarketBeat Ratings reports. The brokerage set an “underweight” rating and a $7.50 price target on the stock. Barclays‘s price target suggests a potential upside of 4.09% from the stock’s previous close.

Several other brokerages have also recently issued reports on OGN. Piper Sandler cut Organon & Co. from an “overweight” rating to an “underweight” rating and set a $5.00 price objective on the stock. in a report on Monday, October 27th. Morgan Stanley dropped their price objective on shares of Organon & Co. from $10.00 to $9.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 11th. Weiss Ratings restated a “sell (d+)” rating on shares of Organon & Co. in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Organon & Co. from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $8.38.

Organon & Co. Price Performance

Shares of NYSE:OGN opened at $7.21 on Tuesday. The firm has a fifty day moving average price of $8.07 and a 200 day moving average price of $9.19. Organon & Co. has a fifty-two week low of $6.18 and a fifty-two week high of $17.23. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of 3.75, a P/E/G ratio of 1.49 and a beta of 0.57. The company has a debt-to-equity ratio of 9.69, a quick ratio of 1.20 and a current ratio of 1.75.

Organon & Co. (NYSE:OGN) last issued its earnings results on Monday, November 10th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.08. The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Organon & Co. had a return on equity of 143.47% and a net margin of 7.95%.During the same period in the previous year, the firm posted $1.38 earnings per share. As a group, sell-side analysts expect that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Organon & Co.

Hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC boosted its holdings in Organon & Co. by 22.4% during the 2nd quarter. GAMMA Investing LLC now owns 5,645 shares of the company’s stock valued at $55,000 after acquiring an additional 1,034 shares during the period. Maryland State Retirement & Pension System increased its stake in Organon & Co. by 1.4% in the second quarter. Maryland State Retirement & Pension System now owns 88,420 shares of the company’s stock worth $856,000 after purchasing an additional 1,195 shares during the period. Rexford Capital Inc. lifted its position in shares of Organon & Co. by 14.9% during the third quarter. Rexford Capital Inc. now owns 11,380 shares of the company’s stock worth $122,000 after purchasing an additional 1,480 shares during the last quarter. Amalgamated Bank boosted its stake in shares of Organon & Co. by 1.9% during the third quarter. Amalgamated Bank now owns 79,805 shares of the company’s stock valued at $852,000 after purchasing an additional 1,514 shares during the period. Finally, Integrated Wealth Concepts LLC boosted its stake in shares of Organon & Co. by 2.8% during the third quarter. Integrated Wealth Concepts LLC now owns 58,648 shares of the company’s stock valued at $626,000 after purchasing an additional 1,594 shares during the period. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

Organon & Co. Company Profile

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.