Organon & Co. (NYSE:OGN) Price Target Raised to $24.00 at Piper Sandler

Organon & Co. (NYSE:OGN) had its price objective increased by Piper Sandler from $22.00 to $24.00 in a research report sent to investors on Monday, Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Separately, The Goldman Sachs Group raised their target price on Organon & Co. from $16.00 to $18.00 and gave the stock a neutral rating in a research note on Tuesday, February 20th.

Organon & Co. Stock Up 1.2 %

Shares of NYSE OGN opened at $18.84 on Monday. Organon & Co. has a 52 week low of $10.84 and a 52 week high of $24.58. The business has a 50-day simple moving average of $18.14 and a two-hundred day simple moving average of $15.70. The company has a market cap of $4.85 billion, a P/E ratio of 4.71, a P/E/G ratio of 0.89 and a beta of 0.83.

Organon & Co. (NYSE:OGN) last issued its earnings results on Thursday, February 15th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.73 by $0.14. Organon & Co. had a negative return on equity of 212.00% and a net margin of 16.33%. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.55 billion. Equities research analysts anticipate that Organon & Co. will post 4.08 EPS for the current year.

Organon & Co. Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Monday, February 26th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.94%. Organon & Co.’s dividend payout ratio (DPR) is presently 28.00%.

Insider Activity

In other Organon & Co. news, insider Kirke Weaver purchased 2,720 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was purchased at an average price of $18.36 per share, for a total transaction of $49,939.20. Following the transaction, the insider now owns 15,181 shares in the company, valued at approximately $278,723.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.17% of the company’s stock.

Institutional Trading of Organon & Co.

Hedge funds and other institutional investors have recently bought and sold shares of the company. New York State Teachers Retirement System boosted its stake in Organon & Co. by 20.1% in the fourth quarter. New York State Teachers Retirement System now owns 348,226 shares of the company’s stock worth $5,021,000 after buying an additional 58,321 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in 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 in the last quarter. KLCM Advisors Inc. boosted its stake in Organon & Co. by 60.4% in the fourth quarter. KLCM Advisors Inc. now owns 999,099 shares of the company’s stock worth $14,407,000 after buying an additional 376,055 shares in the last quarter. UBS Group AG boosted its stake in Organon & Co. by 88.3% in the third quarter. UBS Group AG now owns 657,912 shares of the company’s stock worth $11,421,000 after buying an additional 308,470 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its stake in Organon & Co. by 59.1% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 221,461 shares of the company’s stock worth $3,193,000 after buying an additional 82,239 shares in the last quarter. Hedge funds and other institutional investors 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.