JPMorgan Chase & Co. Downgrades Organon & Co. (NYSE:OGN) to Underweight

Organon & Co. (NYSE:OGN) was downgraded by stock analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a report issued on Friday, MarketBeat.com reports. They presently have a $20.00 target price on the stock, up from their prior target price of $18.00. JPMorgan Chase & Co.‘s price objective points to a potential downside of 2.39% from the stock’s current price.

Organon & Co. Price Performance

Shares of NYSE:OGN opened at $20.49 on Friday. The company has a market cap of $5.27 billion, a P/E ratio of 5.01, a P/E/G ratio of 0.98 and a beta of 0.85. The business has a fifty day simple moving average of $21.02 and a 200-day simple moving average of $19.94. Organon & Co. has a 52 week low of $10.84 and a 52 week high of $23.10. The company has a quick ratio of 1.17, a current ratio of 1.64 and a debt-to-equity ratio of 60.05.

Organon & Co. (NYSE:OGN) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $1.12 EPS for the quarter, beating the consensus estimate of $1.08 by $0.04. The company had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Organon & Co. had a negative return on equity of 840.29% and a net margin of 15.76%. The firm’s revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.31 EPS. Equities research analysts forecast that Organon & Co. will post 4.14 EPS for the current year.

Institutional Trading of Organon & Co.

Several institutional investors have recently made changes to their positions in OGN. Versant Capital Management Inc grew its position in Organon & Co. by 200.2% during the second quarter. Versant Capital Management Inc now owns 1,207 shares of the company’s stock valued at $25,000 after acquiring an additional 805 shares during the period. William B. Walkup & Associates Inc. acquired a new position in shares of Organon & Co. in the 2nd quarter valued at about $31,000. Atlas Capital Advisors LLC grew its holdings in shares of Organon & Co. by 2,236.5% during the 2nd quarter. Atlas Capital Advisors LLC now owns 2,243 shares of the company’s stock worth $46,000 after purchasing an additional 2,147 shares during the period. Fidelis Capital Partners LLC acquired a new stake in Organon & Co. during the 1st quarter worth approximately $43,000. Finally, Tompkins Financial Corp raised its holdings in Organon & Co. by 450.7% in the first quarter. Tompkins Financial Corp now owns 2,412 shares of the company’s stock valued at $45,000 after buying an additional 1,974 shares during the period. 77.43% of the stock is owned by hedge funds and other institutional investors.

Organon & Co. Company Profile

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.