Barclays Raises Organon & Co. (NYSE:OGN) Price Target to $8.00

Organon & Co. (NYSE:OGN) had its price objective boosted by equities research analysts at Barclays from $7.50 to $8.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Barclays‘s price target would indicate a potential upside of 6.60% from the stock’s previous close.

OGN has been the subject of a number of other research reports. Piper Sandler lowered shares of Organon & Co. from an “overweight” rating to an “underweight” rating and set a $5.00 target price for the company. in a research report on Monday, October 27th. Morgan Stanley dropped their price target on shares of Organon & Co. from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 11th. JPMorgan Chase & Co. cut their price objective 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. Zacks Research cut shares of Organon & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, January 29th. Finally, Wall Street Zen downgraded Organon & Co. from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $8.50.

Organon & Co. Stock Performance

Shares of OGN opened at $7.51 on Tuesday. Organon & Co. has a 1 year low of $6.18 and a 1 year high of $16.12. The company has a debt-to-equity ratio of 9.69, a current ratio of 1.75 and a quick ratio of 1.20. The stock’s fifty day moving average price is $7.98 and its two-hundred day moving average price is $8.49. The firm has a market cap of $1.95 billion, a PE ratio of 10.57, a PEG ratio of 0.74 and a beta of 0.58.

Organon & Co. (NYSE:OGN) last announced its quarterly earnings data on Thursday, February 12th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.10). Organon & Co. had a return on equity of 123.06% and a net margin of 3.01%.The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period last year, the business posted $0.90 EPS. The company’s revenue was down 5.3% compared to the same quarter last year. On average, equities research analysts forecast that Organon & Co. will post 3.68 EPS for the current year.

Hedge Funds Weigh In On Organon & Co.

A number of institutional investors have recently added to or reduced their stakes in OGN. State of New Jersey Common Pension Fund D lifted its position in Organon & Co. by 69.0% during the second quarter. State of New Jersey Common Pension Fund D now owns 216,737 shares of the company’s stock valued at $2,098,000 after purchasing an additional 88,454 shares during the last quarter. Sector Gamma AS purchased a new stake in shares of Organon & Co. during the 3rd quarter valued at $5,807,000. Bryce Point Capital LLC bought a new stake in shares of Organon & Co. during the 2nd quarter worth $465,000. Coldstream Capital Management Inc. lifted its holdings in shares of Organon & Co. by 61.6% during the 2nd quarter. Coldstream Capital Management Inc. now owns 22,686 shares of the company’s stock worth $220,000 after acquiring an additional 8,644 shares during the last quarter. Finally, American Century Companies Inc. grew its position in Organon & Co. by 1,205.1% in the second quarter. American Century Companies Inc. now owns 522,013 shares of the company’s stock worth $5,053,000 after acquiring an additional 482,016 shares in the last quarter. 77.43% of the stock is currently owned by institutional investors.

Organon & Co. Company Profile

Organon & Co is a global healthcare company that was established as an independent, publicly traded entity following its spin-off from Merck & Co in June 2021. Headquartered in Jersey City, New Jersey, Organon focuses on delivering therapeutic solutions across women’s health, biosimilars, and established brands. The company’s creation reflected a strategic effort to concentrate on specialty pharmaceuticals and legacy products with proven patient impact.

In women’s health, Organon provides a broad portfolio of products addressing reproductive and gynecological conditions, including fertility treatments, contraception, and hormone replacement therapies.