Organon & Co. (NYSE:OGN) Trading Up 8.8% – What’s Next?

Organon & Co. (NYSE:OGN)’s share price shot up 8.8% on Tuesday . The stock traded as high as $9.43 and last traded at $9.5330. 8,081,577 shares changed hands during mid-day trading, an increase of 29% from the average session volume of 6,268,221 shares. The stock had previously closed at $8.76.

Analysts Set New Price Targets

Several analysts have recently commented on OGN shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Organon & Co. in a research report on Wednesday, October 8th. JPMorgan Chase & Co. cut their target price on Organon & Co. from $14.00 to $12.00 and set an “underweight” rating for the company in a research note on Tuesday, November 11th. Barclays began coverage on Organon & Co. in a research note on Tuesday, December 9th. They issued an “underweight” rating and a $7.50 price target on the stock. Piper Sandler cut Organon & Co. from an “overweight” rating to an “underweight” rating and set a $5.00 price target for the company. in a report on Monday, October 27th. Finally, Morgan Stanley reduced their price objective on shares of Organon & Co. from $10.00 to $9.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $8.38.

Organon & Co. Price Performance

The company has a debt-to-equity ratio of 9.69, a current ratio of 1.75 and a quick ratio of 1.20. The stock has a 50 day moving average price of $7.50 and a two-hundred day moving average price of $8.76. The firm has a market capitalization of $2.47 billion, a price-to-earnings ratio of 4.94, a PEG ratio of 1.82 and a beta of 0.58.

Organon & Co. (NYSE:OGN) last posted its earnings results on Monday, November 10th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.08. The firm had revenue of $1.60 billion for the quarter, compared to analyst estimates of $1.57 billion. Organon & Co. had a return on equity of 143.47% and a net margin of 7.95%.During the same quarter in the prior year, the company earned $1.38 EPS. As a group, analysts expect that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Investors of record on Thursday, November 20th were issued a $0.02 dividend. The ex-dividend date was Thursday, November 20th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.8%. Organon & Co.’s payout ratio is 4.17%.

Hedge Funds Weigh In On Organon & Co.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State of New Jersey Common Pension Fund D increased its holdings in Organon & Co. by 69.0% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 216,737 shares of the company’s stock worth $2,098,000 after purchasing an additional 88,454 shares during the period. Bryce Point Capital LLC purchased a new position in shares of Organon & Co. in the 2nd quarter valued at about $465,000. Coldstream Capital Management Inc. grew its position in shares of Organon & Co. by 61.6% during the second quarter. Coldstream Capital Management Inc. now owns 22,686 shares of the company’s stock worth $220,000 after buying an additional 8,644 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Organon & Co. by 1,205.1% during the second quarter. American Century Companies Inc. now owns 522,013 shares of the company’s stock worth $5,053,000 after buying an additional 482,016 shares during the period. Finally, Nordea Investment Management AB increased its stake in shares of Organon & Co. by 1.1% during the second quarter. Nordea Investment Management AB now owns 4,904,076 shares of the company’s stock worth $48,281,000 after buying an additional 53,733 shares during the period. Hedge funds and other institutional investors own 77.43% of the company’s stock.

About Organon & Co.

Organon & Co is a global healthcare company that was established as an independent, publicly traded entity following its spin-off from Merck & Co in June 2021. Headquartered in Jersey City, New Jersey, Organon focuses on delivering therapeutic solutions across women’s health, biosimilars, and established brands. The company’s creation reflected a strategic effort to concentrate on specialty pharmaceuticals and legacy products with proven patient impact.

In women’s health, Organon provides a broad portfolio of products addressing reproductive and gynecological conditions, including fertility treatments, contraception, and hormone replacement therapies.