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

Organon & Co. (NYSE:OGN) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Thursday,Zacks.com reports.

OGN has been the topic of a number of other research reports. Morgan Stanley dropped their price target on Organon & Co. from $10.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 11th. JPMorgan Chase & Co. reduced their target price on shares of Organon & Co. from $14.00 to $12.00 and set an “underweight” rating for the company in a research note on Tuesday, November 11th. Piper Sandler cut shares of Organon & Co. from an “overweight” rating to an “underweight” rating and set a $5.00 price target on the stock. in a research note on Monday, October 27th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Organon & Co. in a report on Wednesday, October 8th. Finally, Barclays started coverage on shares of Organon & Co. in a research note on Tuesday, December 9th. They issued an “underweight” rating and a $7.50 price objective for the company. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $8.38.

Organon & Co. Price Performance

Shares of NYSE:OGN opened at $8.51 on Thursday. The company has a quick ratio of 1.20, a current ratio of 1.75 and a debt-to-equity ratio of 9.69. Organon & Co. has a twelve month low of $6.18 and a twelve month high of $17.23. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of 4.43, a PEG ratio of 1.84 and a beta of 0.58. The stock’s 50 day moving average is $7.80 and its 200-day moving average is $8.73.

Organon & Co. (NYSE:OGN) last announced its quarterly 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 business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.57 billion. Organon & Co. had a return on equity of 143.47% and a net margin of 7.95%.During the same quarter in the prior year, the company posted $1.38 earnings per share. Sell-side analysts forecast that Organon & Co. will post 3.68 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Organon & Co. by 11.3% during the third quarter. Vanguard Group Inc. now owns 35,928,403 shares of the company’s stock worth $383,715,000 after purchasing an additional 3,650,860 shares in the last quarter. Norges Bank purchased a new position in shares of Organon & Co. during the second quarter worth approximately $19,778,000. AQR Capital Management LLC raised its position in Organon & Co. by 136.1% in the 2nd quarter. AQR Capital Management LLC now owns 3,254,884 shares of the company’s stock worth $31,507,000 after purchasing an additional 1,876,264 shares during the period. UBS Group AG increased its holdings in shares of Organon & Co. by 55.2% in the fourth quarter. UBS Group AG now owns 4,295,002 shares of the company’s stock worth $30,795,000 after buying an additional 1,527,492 shares during the period. Finally, Balyasny Asset Management L.P. boosted its holdings in Organon & Co. by 102.1% during the 3rd quarter. Balyasny Asset Management L.P. now owns 2,240,149 shares of the company’s stock valued at $23,925,000 after acquiring an additional 1,131,941 shares during the period. Institutional investors own 77.43% of the company’s stock.

About Organon & Co.

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.