Organon & Co. (NYSE:OGN) Shares Down 5.9% After Earnings Miss

Organon & Co. (NYSE:OGN - Get Free Report) shares fell 5.9% on Friday following a dissappointing earnings announcement. The stock traded as low as $15.49 and last traded at $15.35. 1,707,635 shares were traded during trading, a decline of 37% from the average session volume of 2,730,851 shares. The stock had previously closed at $16.32.

The company reported $0.83 EPS 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 for the quarter, compared to analysts' expectations of $1.57 billion.

Organon & Co. Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Monday, February 24th will be paid a $0.28 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.12 annualized dividend and a yield of 7.25%. Organon & Co.'s payout ratio is currently 22.22%.

Analyst Upgrades and Downgrades

OGN has been the subject of a number of recent analyst reports. TD Cowen raised Organon & Co. to a "hold" rating in a research report on Wednesday, January 15th. Morgan Stanley decreased their price target on Organon & Co. from $17.00 to $16.00 and set an "equal weight" rating on the stock in a research note on Friday. Finally, Barclays dropped their price objective on shares of Organon & Co. from $26.00 to $24.00 and set an "overweight" rating for the company in a research note on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $20.80.

Hedge Funds Weigh In On Organon & Co.

A number of large investors have recently modified their holdings of OGN. Prospera Private Wealth LLC acquired a new stake in Organon & Co. during the 3rd quarter worth approximately $25,000. Horizon Bancorp Inc. IN increased its position in shares of Organon & Co. by 2,401.5% in the fourth quarter. Horizon Bancorp Inc. IN now owns 1,651 shares of the company's stock worth $25,000 after acquiring an additional 1,585 shares in the last quarter. Millstone Evans Group LLC acquired a new stake in shares of Organon & Co. in the fourth quarter worth $29,000. Larson Financial Group LLC raised its stake in shares of Organon & Co. by 345.4% in the 4th quarter. Larson Financial Group LLC now owns 2,236 shares of the company's stock valued at $33,000 after acquiring an additional 1,734 shares during the period. Finally, Riverview Trust Co lifted its holdings in shares of Organon & Co. by 117.7% during the 4th quarter. Riverview Trust Co now owns 2,390 shares of the company's stock valued at $36,000 after acquiring an additional 1,292 shares in the last quarter. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

Organon & Co. Trading Up 1.1 %

The stock has a market capitalization of $3.98 billion, a PE ratio of 3.07, a PEG 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. The business's 50-day moving average is $15.36 and its two-hundred day moving average is $17.34.

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.