Organon & Co. (NYSE:OGN) Trading Down 6.3% – Time to Sell?

Organon & Co. (NYSE:OGN)’s share price traded down 6.3% on Wednesday . The company traded as low as $7.65 and last traded at $7.63. 2,430,424 shares changed hands during trading, a decline of 58% from the average session volume of 5,848,301 shares. The stock had previously closed at $8.14.

Wall Street Analyst Weigh In

A number of research firms have commented on OGN. Zacks Research downgraded shares of Organon & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 29th. 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. cut their price objective on Organon & Co. from $14.00 to $12.00 and set an “underweight” rating for the company in a report on Tuesday, November 11th. Barclays upped their price objective on Organon & Co. from $7.50 to $8.00 and gave the company an “underweight” rating in a research report on Tuesday. Finally, Morgan Stanley dropped their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $8.50.

Organon & Co. Trading Up 1.0%

The company has a market capitalization of $1.90 billion, a P/E ratio of 10.29, a PEG ratio of 0.66 and a beta of 0.58. The company has a debt-to-equity ratio of 11.47, a quick ratio of 1.20 and a current ratio of 1.82. The stock has a fifty day moving average of $7.99 and a 200 day moving average of $8.47.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings results on Thursday, February 12th. The company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.10). Organon & Co. had a return on equity of 122.01% and a net margin of 3.01%.The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same quarter in the previous year, the company earned $0.90 EPS. The business’s quarterly revenue was down 5.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Monday, February 23rd will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, February 23rd. Organon & Co.’s dividend payout ratio is currently 11.27%.

Hedge Funds Weigh In On Organon & Co.

Large investors have recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D increased its holdings 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 worth $2,098,000 after buying an additional 88,454 shares during the last quarter. Sector Gamma AS bought a new position in shares of Organon & Co. in the 3rd quarter valued at about $5,807,000. Bryce Point Capital LLC bought a new position in shares of Organon & Co. in the 2nd quarter valued at about $465,000. Coldstream Capital Management Inc. lifted its holdings in shares of Organon & Co. by 61.6% in the 2nd quarter. Coldstream Capital Management Inc. now owns 22,686 shares of the company’s stock valued at $220,000 after acquiring an additional 8,644 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in Organon & Co. by 1,205.1% during 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 during the last quarter. Hedge funds and other institutional investors own 77.43% of the company’s stock.

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.