Organon & Co. (NYSE:OGN) Sees Large Decline in Short Interest

Organon & Co. (NYSE:OGN - Get Free Report) was the recipient of a large drop in short interest in May. As of May 15th, there was short interest totalling 15,960,000 shares, a drop of 19.0% from the April 30th total of 19,700,000 shares. Approximately 6.2% of the company's stock are short sold. Based on an average daily volume of 5,580,000 shares, the days-to-cover ratio is currently 2.9 days.

Organon & Co. Stock Performance

Shares of NYSE OGN traded up $0.10 during trading on Wednesday, reaching $9.54. 3,018,440 shares of the company traded hands, compared to its average volume of 4,661,484. The stock has a market cap of $2.48 billion, a P/E ratio of 2.86, a PEG ratio of 0.90 and a beta of 0.75. The firm's fifty day simple moving average is $10.71 and its 200 day simple moving average is $13.72. The company has a current ratio of 1.70, a quick ratio of 1.21 and a debt-to-equity ratio of 17.73. Organon & Co. has a 12-month low of $8.01 and a 12-month high of $23.10.

Organon & Co. (NYSE:OGN - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.13. Organon & Co. had a return on equity of 431.62% and a net margin of 13.49%. The company had revenue of $1.51 billion during the quarter, compared to analysts' expectations of $1.53 billion. During the same period last year, the business earned $1.22 earnings per share. Organon & Co.'s quarterly revenue was down 6.7% on a year-over-year basis. As a group, research analysts anticipate that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Monday, May 12th will be given a $0.02 dividend. The ex-dividend date of this dividend is Monday, May 12th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.84%. Organon & Co.'s dividend payout ratio (DPR) is currently 2.78%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Barclays dropped their price objective on shares of Organon & Co. from $26.00 to $24.00 and set an "overweight" rating on the stock in a report on Friday, February 14th. Piper Sandler cut their price objective on Organon & Co. from $24.00 to $18.00 and set an "overweight" rating on the stock in a report on Thursday, May 15th. Morgan Stanley decreased their target price on Organon & Co. from $15.00 to $10.00 and set an "equal weight" rating for the company in a report on Monday, May 5th. Evercore ISI lowered Organon & Co. from an "outperform" rating to an "inline" rating in a research report on Friday, May 2nd. Finally, BNP Paribas upgraded shares of Organon & Co. to a "strong-buy" rating in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $18.00.

Insider Transactions at Organon & Co.

In related news, CFO Matthew M. Walsh bought 11,400 shares of the company's stock in a transaction on Monday, May 5th. The shares were bought at an average price of $8.82 per share, with a total value of $100,548.00. Following the transaction, the chief financial officer now owns 144,484 shares in the company, valued at approximately $1,274,348.88. This trade represents a 8.57% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kevin Ali purchased 34,000 shares of the firm's stock in a transaction on Monday, May 5th. The stock was bought at an average cost of $8.80 per share, with a total value of $299,200.00. Following the acquisition, the chief executive officer now owns 282,731 shares of the company's stock, valued at approximately $2,488,032.80. The trade was a 13.67% increase in their position. The disclosure for this purchase can be found here. Insiders acquired 102,345 shares of company stock valued at $902,430 in the last quarter. 1.96% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in OGN. Barclays PLC raised its position in Organon & Co. by 238.0% during the third quarter. Barclays PLC now owns 119,483 shares of the company's stock worth $2,285,000 after acquiring an additional 84,136 shares during the period. Hsbc Holdings PLC raised its position in shares of Organon & Co. by 13.9% during the 4th quarter. Hsbc Holdings PLC now owns 13,922 shares of the company's stock worth $208,000 after purchasing an additional 1,703 shares during the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in Organon & Co. in the 4th quarter valued at about $2,263,000. Wells Fargo & Company MN lifted its stake in Organon & Co. by 28.6% in the 4th quarter. Wells Fargo & Company MN now owns 262,746 shares of the company's stock valued at $3,920,000 after buying an additional 58,378 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Organon & Co. by 44.2% in the 4th quarter. Wellington Management Group LLP now owns 32,966 shares of the company's stock worth $492,000 after buying an additional 10,108 shares during the last quarter. Hedge funds and other institutional investors own 77.43% of the company's stock.

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.