Organon & Co. (NYSE:OGN) Shares Down 5.9% Following Weak Earnings

Organon & Co. (NYSE:OGN) shares were down 5.9% during mid-day trading on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $15.49 and last traded at $15.35. Approximately 1,707,635 shares traded hands during mid-day trading, a decline of 37% from the average daily volume of 2,730,851 shares. The stock had previously closed at $16.32.

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 net margin of 20.30% and a return on equity of 644.70%.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Organon & Co.

Institutional investors have recently modified their holdings of the company. Barclays PLC grew its position in Organon & Co. by 238.0% in the 3rd quarter. Barclays PLC now owns 119,483 shares of the company’s stock valued at $2,285,000 after acquiring an additional 84,136 shares in the last quarter. Weiss Asset Management LP acquired a new stake in shares of Organon & Co. in the third quarter valued at $32,966,000. Cerity Partners LLC boosted its holdings in Organon & Co. by 94.0% in the third quarter. Cerity Partners LLC now owns 667,340 shares of the company’s stock valued at $12,766,000 after purchasing an additional 323,308 shares during the period. Foundry Partners LLC purchased a new stake in Organon & Co. during the 3rd quarter worth about $7,642,000. Finally, Beddow Capital Management Inc. raised its position in Organon & Co. by 38.8% in the 3rd quarter. Beddow Capital Management Inc. now owns 306,675 shares of the company’s stock valued at $5,867,000 after purchasing an additional 85,775 shares in the last quarter. 77.43% of the stock is owned by institutional investors and hedge funds.

Organon & Co. Stock Down 5.9 %

The firm has a market cap of $3.96 billion, a PE ratio of 3.04, 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 firm has a 50 day moving average price of $15.34 and a 200-day moving average price of $17.53.

Organon & Co. Company Profile

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.