Morgan Stanley Lowers Organon & Co. (NYSE:OGN) Price Target to $16.00

Organon & Co. (NYSE:OGN - Get Free Report) had its target price dropped by investment analysts at Morgan Stanley from $17.00 to $16.00 in a report issued on Friday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Morgan Stanley's price target would indicate a potential upside of 3.53% from the stock's current price.

Separately, TD Cowen raised Organon & Co. to a "hold" rating in a report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $20.80.

Organon & Co. Price Performance

Shares of Organon & Co. stock traded up $0.18 during trading on Friday, reaching $15.46. The company's stock had a trading volume of 3,414,065 shares, compared to its average volume of 2,844,831. The stock has a 50-day moving average price of $15.36 and a two-hundred day moving average price of $17.34. The stock has a market capitalization of $3.98 billion, a P/E ratio of 3.07, a price-to-earnings-growth ratio of 0.83 and a beta of 0.76. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 17.73. Organon & Co. has a one year low of $13.87 and a one year high of $23.10.

Organon & Co. (NYSE:OGN - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported $0.83 earnings per share for the quarter, missing analysts' consensus estimates of $0.92 by ($0.09). Organon & Co. had a return on equity of 644.70% and a net margin of 20.30%. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.57 billion. As a group, sell-side analysts anticipate that Organon & Co. will post 3.82 EPS for the current fiscal year.

Institutional Trading of Organon & Co.

Several institutional investors and hedge funds have recently made changes to their positions in OGN. Pacer Advisors Inc. grew its stake in shares of Organon & Co. by 94,482.1% during the fourth quarter. Pacer Advisors Inc. now owns 11,152,179 shares of the company's stock worth $166,391,000 after purchasing an additional 11,140,388 shares during the period. Weiss Asset Management LP bought a new position in Organon & Co. during the third quarter worth about $32,966,000. Norges Bank acquired a new position in shares of Organon & Co. during the 4th quarter worth about $25,258,000. Magnetar Financial LLC increased its stake in shares of Organon & Co. by 560.2% in the 4th quarter. Magnetar Financial LLC now owns 1,734,434 shares of the company's stock valued at $25,878,000 after acquiring an additional 1,471,731 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Organon & Co. by 303.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,242,135 shares of the company's stock valued at $23,762,000 after acquiring an additional 934,505 shares during the period. Institutional investors own 77.43% of the company's stock.

About Organon & Co.

Organon & Co is a science based global pharmaceutical company, which develops and delivers innovative health solutions through a portfolio of prescription therapies within women's health, biosimilars and established brands. The company was founded on March 11, 2020, and is headquartered in Jersey City, NJ.