Organon & Co. (NYSE:OGN) Stock Price Down 5.2% – Here’s What Happened

Organon & Co. (NYSE:OGN) was down 5.2% during mid-day trading on Monday . The stock traded as low as $7.83 and last traded at $7.7850. Approximately 944,139 shares traded hands during trading, a decline of 84% from the average daily volume of 6,058,417 shares. The stock had previously closed at $8.21.

Analyst Ratings Changes

A number of research firms have weighed in on OGN. Barclays began coverage on shares of Organon & Co. in a research report on Tuesday, December 9th. They set an “underweight” rating and a $7.50 target price for the company. Morgan Stanley cut their price objective on Organon & Co. from $10.00 to $9.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 11th. Wall Street Zen downgraded Organon & Co. from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. JPMorgan Chase & Co. dropped their price target on Organon & Co. from $14.00 to $12.00 and set an “underweight” rating on the stock in a research report on Tuesday, November 11th. Finally, Piper Sandler cut Organon & Co. from an “overweight” rating to an “underweight” rating and set a $5.00 price objective for the company. in a research report on Monday, October 27th. One investment 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 MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $8.38.

Organon & Co. Price Performance

The company has a market cap of $2.06 billion, a P/E ratio of 4.13, a P/E/G ratio of 1.75 and a beta of 0.58. The stock has a 50-day simple moving average of $7.86 and a 200 day simple moving average of $8.66. 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 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.08. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates 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 prior year, the company posted $1.38 earnings per share. On average, equities analysts expect that Organon & Co. will post 3.68 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in OGN. Vanguard Group Inc. grew its stake in shares of Organon & Co. by 11.3% in the 3rd quarter. Vanguard Group Inc. now owns 35,928,403 shares of the company’s stock valued at $383,715,000 after purchasing an additional 3,650,860 shares during the period. Norges Bank acquired a new stake in Organon & Co. in the 2nd quarter valued at $19,778,000. AQR Capital Management LLC grew its position in Organon & Co. by 136.1% in the second quarter. AQR Capital Management LLC now owns 3,254,884 shares of the company’s stock valued at $31,507,000 after acquiring an additional 1,876,264 shares during the period. UBS Group AG raised its stake in Organon & Co. by 55.2% during the fourth quarter. UBS Group AG now owns 4,295,002 shares of the company’s stock worth $30,795,000 after acquiring an additional 1,527,492 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its holdings in shares of Organon & Co. by 102.1% during the third 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 and hedge funds 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.