Organon & Co. (NYSE:OGN) Downgraded to Neutral at Bank of America

Bank of America cut shares of Organon & Co. (NYSE:OGNGet Rating) from a buy rating to a neutral rating in a research report report published on Friday morning, Marketbeat Ratings reports. They currently have $37.00 target price on the stock, down from their prior target price of $40.00.

Other equities analysts have also recently issued reports about the stock. The Goldman Sachs Group initiated coverage on shares of Organon & Co. in a research note on Wednesday, April 27th. They set a buy rating and a $40.00 price target for the company. Morgan Stanley dropped their price target on shares of Organon & Co. from $35.00 to $34.00 and set an equal weight rating for the company in a research note on Friday, July 8th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $37.80.

Organon & Co. Stock Down 2.8 %

Organon & Co. stock opened at $31.50 on Friday. The company’s 50-day moving average price is $33.88 and its 200-day moving average price is $34.45. Organon & Co. has a twelve month low of $28.50 and a twelve month high of $39.47. The company has a market cap of $7.99 billion, a PE ratio of 7.26 and a beta of 0.47.

Organon & Co. (NYSE:OGNGet Rating) last released its quarterly earnings results on Thursday, May 5th. The company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.34. Organon & Co. had a net margin of 17.42% and a negative return on equity of 103.66%. The firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the previous year, the company earned $1.56 EPS. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, sell-side analysts expect that Organon & Co. will post 5.09 earnings per share for the current fiscal year.

Organon & Co. Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Monday, August 15th will be given a $0.28 dividend. The ex-dividend date of this dividend is Friday, August 12th. This represents a $1.12 annualized dividend and a yield of 3.56%. Organon & Co.’s dividend payout ratio (DPR) is 25.81%.

Institutional Investors Weigh In On Organon & Co.

Large investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC lifted its position in shares of Organon & Co. by 3.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 68,453 shares of the company’s stock worth $2,391,000 after purchasing an additional 2,000 shares during the period. Tyler Stone Wealth Management purchased a new stake in shares of Organon & Co. in the 4th quarter worth approximately $140,000. Qube Research & Technologies Ltd lifted its position in shares of Organon & Co. by 794.5% in the 4th quarter. Qube Research & Technologies Ltd now owns 193,334 shares of the company’s stock worth $5,887,000 after purchasing an additional 171,721 shares during the period. KB Financial Partners LLC purchased a new stake in shares of Organon & Co. in the 4th quarter worth approximately $248,000. Finally, ProShare Advisors LLC lifted its position in shares of Organon & Co. by 40.1% in the 4th quarter. ProShare Advisors LLC now owns 77,040 shares of the company’s stock worth $2,346,000 after purchasing an additional 22,051 shares during the period. 70.85% of the stock is owned by hedge funds and other institutional investors.

About Organon & Co.

(Get Rating)

Organon & Co, a health care company, develops and delivers health solutions through a portfolio of prescription therapies in the United States and internationally. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon/Implanon, a long-acting reversible contraceptive.

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Analyst Recommendations for Organon & Co. (NYSE:OGN)

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