Organon & Co. (NYSE:OGN) Price Target Raised to $20.00 at The Goldman Sachs Group

Organon & Co. (NYSE:OGN) had its target price lifted by The Goldman Sachs Group from $18.00 to $20.00 in a research report released on Friday morning, Benzinga reports. They currently have a neutral rating on the stock.

Separately, Piper Sandler lifted their price target on shares of Organon & Co. from $22.00 to $24.00 and gave the stock an overweight rating in a report on Monday, April 29th.

Organon & Co. Price Performance

Organon & Co. stock traded up $0.11 during mid-day trading on Friday, hitting $19.61. 3,217,591 shares of the company were exchanged, compared to its average volume of 2,337,626. Organon & Co. has a 12-month low of $10.84 and a 12-month high of $24.08. The company has a market capitalization of $5.04 billion, a P/E ratio of 4.79, a PEG ratio of 0.92 and a beta of 0.81. The business’s 50 day simple moving average is $18.19 and its two-hundred day simple moving average is $15.77.

Organon & Co. (NYSE:OGN) last posted its quarterly earnings data on Thursday, February 15th. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.14. The business had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.55 billion. Organon & Co. had a negative return on equity of 259.73% and a net margin of 16.50%. Equities research analysts predict that Organon & Co. will post 4.1 earnings per share for the current year.

Organon & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Monday, May 13th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 5.71%. The ex-dividend date of this dividend is Friday, May 10th. Organon & Co.’s dividend payout ratio (DPR) is 27.38%.

Insider Activity

In related news, insider Kirke Weaver bought 2,720 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was purchased at an average cost of $18.36 per share, for a total transaction of $49,939.20. Following the completion of the acquisition, the insider now owns 15,181 shares in the company, valued at $278,723.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.17% of the company’s stock.

Hedge Funds Weigh In On Organon & Co.

A number of hedge funds have recently made changes to their positions in the stock. Exchange Traded Concepts LLC purchased a new stake in Organon & Co. during the third quarter valued at about $165,000. Cambridge Investment Research Advisors Inc. increased its position in Organon & Co. by 8.2% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 24,159 shares of the company’s stock worth $419,000 after purchasing an additional 1,838 shares in the last quarter. Xponance Inc. raised its holdings in Organon & Co. by 4.4% in the third quarter. Xponance Inc. now owns 42,535 shares of the company’s stock valued at $738,000 after buying an additional 1,798 shares during the period. Raymond James & Associates lifted its position in Organon & Co. by 0.7% during the third quarter. Raymond James & Associates now owns 345,810 shares of the company’s stock valued at $6,003,000 after buying an additional 2,354 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its stake in Organon & Co. by 13.7% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 82,800 shares of the company’s stock worth $1,437,000 after buying an additional 9,956 shares during the period. Institutional investors and hedge funds own 77.43% of the company’s stock.

About Organon & Co.

Organon & Co develops and delivers health solutions through a portfolio of prescription therapies and medical devices within women's health in the United States and internationally. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon, a long-acting reversible contraceptive; NuvaRing, a monthly vaginal contraceptive ring; Cerazette, a daily pill used to prevent pregnancy; Marvelon, progestin and estrogen used as daily pills to prevent pregnancy; Follistim AQ, used to promote the development of multiple ovarian follicles in assisted reproduction technology procedures; Elonva, an ovarian follicle stimulant; Ganirelix Acetate Injection, an injectable antagonist; and Jada, for abnormal postpartum uterine bleeding or hemorrhage.