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

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Wall Street Zen lowered shares of Organon & Co. from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Barclays assumed coverage on shares of Organon & Co. in a research note on Tuesday, December 9th. They issued an “underweight” rating and a $7.50 target price for the company. Morgan Stanley dropped their price target on Organon & Co. from $10.00 to $9.00 and set an “equal weight” rating for the company in a report on Tuesday, November 11th. Zacks Research downgraded Organon & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 29th. Finally, Piper Sandler cut Organon & Co. from an “overweight” rating to an “underweight” rating and set a $5.00 target price on the stock. in a report on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $8.38.

Organon & Co. Stock Down 3.5%

The firm’s 50-day moving average is $7.86 and its two-hundred day moving average is $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. The stock has a market cap of $2.06 billion, a P/E ratio of 4.13, a PEG ratio of 1.75 and a beta of 0.58.

Organon & Co. (NYSE:OGN) last released its earnings results on Monday, November 10th. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.08. The company 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 previous year, the company posted $1.38 earnings per share. On average, equities research analysts anticipate that Organon & Co. will post 3.68 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. State of New Jersey Common Pension Fund D lifted its stake in shares of Organon & Co. by 69.0% in the 2nd 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 period. Sector Gamma AS acquired a new position in Organon & Co. in the third quarter valued at about $5,807,000. Bryce Point Capital LLC acquired a new position in Organon & Co. in the second quarter valued at about $465,000. Coldstream Capital Management Inc. boosted its holdings in Organon & Co. by 61.6% during the second quarter. Coldstream Capital Management Inc. now owns 22,686 shares of the company’s stock worth $220,000 after buying an additional 8,644 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of Organon & Co. by 1,205.1% during the 2nd quarter. American Century Companies Inc. now owns 522,013 shares of the company’s stock worth $5,053,000 after buying an additional 482,016 shares during the period. 77.43% of the stock is currently owned by institutional investors and hedge funds.

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.