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

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

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

Organon & Co. Price Performance

NYSE OGN traded up $1.07 during mid-day trading on Friday, reaching $20.68. The stock had a trading volume of 3,179,237 shares, compared to its average volume of 2,719,090. The stock has a market cap of $5.32 billion, a PE ratio of 5.02, a price-to-earnings-growth ratio of 0.88 and a beta of 0.81. Organon & Co. has a 1 year low of $10.84 and a 1 year high of $24.08. The company has a fifty day moving average price of $18.19 and a 200 day moving average price of $15.76.

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

Organon & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Monday, May 13th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, May 10th. This represents a $1.12 annualized dividend and a dividend yield of 5.42%. Organon & Co.’s payout ratio is 27.38%.

Insider Transactions at Organon & Co.

In other news, insider Kirke Weaver bought 2,720 shares of the stock in a transaction on Thursday, February 22nd. The shares were bought at an average price of $18.36 per share, with a total value 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.17% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. New York State Teachers Retirement System increased its stake in shares of Organon & Co. by 20.1% in the 4th quarter. New York State Teachers Retirement System now owns 348,226 shares of the company’s stock worth $5,021,000 after purchasing an additional 58,321 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of Organon & Co. by 417.8% in the fourth quarter. State of Alaska Department of Revenue now owns 157,249 shares of the company’s stock worth $2,267,000 after buying an additional 126,882 shares during the period. KLCM Advisors Inc. lifted its position in shares of Organon & Co. by 60.4% during the 4th quarter. KLCM Advisors Inc. now owns 999,099 shares of the company’s stock valued at $14,407,000 after buying an additional 376,055 shares in the last quarter. State of New Jersey Common Pension Fund D grew its stake in shares of Organon & Co. by 59.1% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 221,461 shares of the company’s stock valued at $3,193,000 after acquiring an additional 82,239 shares during the period. Finally, UBS Group AG increased its holdings in Organon & Co. by 88.3% in the 3rd quarter. UBS Group AG now owns 657,912 shares of the company’s stock worth $11,421,000 after acquiring an additional 308,470 shares in the last quarter. 77.43% of the stock is currently owned by institutional investors.

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.