Organon & Co. (NYSE:OGN – Free Report) had its target price raised by Piper Sandler from $22.00 to $24.00 in a report released on Monday morning, Benzinga reports. They currently have an overweight rating on the stock.
Separately, The Goldman Sachs Group raised their target price on shares of Organon & Co. from $16.00 to $18.00 and gave the company a neutral rating in a research report on Tuesday, February 20th.
Organon & Co. Price Performance
Shares of NYSE OGN traded up $0.35 during midday trading on Monday, reaching $18.90. 2,158,820 shares of the stock were exchanged, compared to its average volume of 2,706,031. Organon & Co. has a 12 month low of $10.84 and a 12 month high of $24.79. The company has a market capitalization of $4.86 billion, a price-to-earnings ratio of 4.73, a P/E/G ratio of 0.88 and a beta of 0.82. The business has a 50-day simple moving average of $18.14 and a two-hundred day simple moving average of $15.69.
Organon & Co. (NYSE:OGN – Get Free Report) last released its quarterly earnings results on Thursday, February 15th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.14. The firm had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.55 billion. Organon & Co. had a negative return on equity of 212.00% and a net margin of 16.33%. Equities research analysts expect that Organon & Co. will post 4.08 earnings per share for the current fiscal year.
Organon & Co. Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Monday, February 26th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.12 annualized dividend and a dividend yield of 5.93%. Organon & Co.’s dividend payout ratio is presently 28.00%.
Insider Buying and Selling
In other news, insider Kirke Weaver acquired 2,720 shares of the stock in a transaction on Thursday, February 22nd. The shares were purchased at an average price of $18.36 per share, for a total transaction of $49,939.20. Following the transaction, the insider now directly owns 15,181 shares of the company’s stock, valued at $278,723.16. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 1.17% of the stock is owned by insiders.
Institutional Trading of Organon & Co.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Lindbrook Capital LLC grew its position in Organon & Co. by 348.3% during the fourth quarter. Lindbrook Capital LLC now owns 1,838 shares of the company’s stock valued at $27,000 after buying an additional 1,428 shares during the period. Harvest Fund Management Co. Ltd grew its position in Organon & Co. by 495.5% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,602 shares of the company’s stock worth $28,000 after acquiring an additional 1,333 shares in the last quarter. Gladius Capital Management LP lifted its position in Organon & Co. by 65.1% in the 4th quarter. Gladius Capital Management LP now owns 2,176 shares of the company’s stock worth $31,000 after buying an additional 858 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Organon & Co. in the 3rd quarter valued at $35,000. Finally, GAMMA Investing LLC purchased a new stake in Organon & Co. during the 4th quarter valued at about $38,000. 77.43% of the stock is currently owned by institutional investors and hedge funds.
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.