Organon & Co. (NYSE:OGN) Stock Price Down 5.9% After Earnings Miss

Organon & Co. (NYSE:OGN)’s share price was down 5.9% during 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 were traded during 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 the consensus estimate of $0.92 by ($0.09). Organon & Co. had a return on equity of 644.70% and a net margin of 20.30%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Morgan Stanley cut their price target on shares of Organon & Co. from $17.00 to $16.00 and set an “equal weight” rating for the company in a report on Friday. Barclays cut their target price on shares of Organon & Co. from $26.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday. Finally, TD Cowen raised shares of Organon & Co. to a “hold” rating in a research note on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Organon & Co. presently has an average rating of “Hold” and an average target price of $20.80.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Prospera Private Wealth LLC bought a new position in shares of Organon & Co. during the third quarter worth about $25,000. Horizon Bancorp Inc. IN raised its holdings in shares of Organon & Co. by 2,401.5% during the fourth quarter. Horizon Bancorp Inc. IN now owns 1,651 shares of the company’s stock worth $25,000 after purchasing an additional 1,585 shares during the period. Millstone Evans Group LLC acquired a new position in shares of Organon & Co. in the 4th quarter valued at about $29,000. Larson Financial Group LLC boosted its holdings in shares of Organon & Co. by 345.4% in the 4th quarter. Larson Financial Group LLC now owns 2,236 shares of the company’s stock valued at $33,000 after buying an additional 1,734 shares during the period. Finally, Abich Financial Wealth Management LLC grew its position in shares of Organon & Co. by 5,646.3% during the 3rd quarter. Abich Financial Wealth Management LLC now owns 2,356 shares of the company’s stock valued at $45,000 after buying an additional 2,315 shares during the last quarter. 77.43% of the stock is currently owned by institutional investors.

Organon & Co. Price Performance

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 business has a 50-day moving average price of $15.34 and a two-hundred day moving average price of $17.53. The firm has a market capitalization of $3.96 billion, a price-to-earnings ratio of 3.04, a PEG ratio of 0.83 and a beta of 0.76.

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.