5 Stocks in Limelight After Releasing Their Quarterly Reports

2. Organon & Co. (NYSE:OGN)

Number of Hedge Fund Holders: 44

Shares of Organon & Co. (NYSE:OGN) slipped over five percent on Thursday, 11 November 2021, despite beating expectations for the third quarter. The global health care company reported adjusted earnings of $1.67 per share, beating analysts’ average estimate of $1.44 per share.

Revenue came in at $1.6 billion, just ahead of the consensus forecast of $1.58 per share. Organon & Co. (NYSE:OGN) had posted adjusted earnings of $2.38 per share on revenue of $1.61 billion for the comparable period of 2020.

If we compare the performance of its flagship businesses, revenue from the Women’s Health segment decreased 10 percent, while revenue from the Established Brands segment slipped 6 percent in the quarter. On the bright side, biosimilars revenue jumped 41 percent on a year-over-year basis.

Organon & Co. (NYSE:OGN) also revised its revenue outlook for the full year. It expects to post revenue in the range of $6.2 – $6.3 billion for 2021, compared to its previous guidance between $6.1 – $6.4 billion.