Organon & Co. (NYSE:OGN) Shares Up 4.6% - Here's Why

Organon & Co. (NYSE:OGN - Get Free Report)'s stock price shot up 4.6% on Monday . The stock traded as high as $12.81 and last traded at $12.77. 676,770 shares were traded during mid-day trading, a decline of 75% from the average session volume of 2,708,999 shares. The stock had previously closed at $12.20.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Morgan Stanley decreased their price objective on shares of Organon & Co. from $16.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. Barclays decreased their price objective on shares of Organon & Co. from $26.00 to $24.00 and set an "overweight" rating for the company in a report on Friday, February 14th. Finally, TD Cowen upgraded Organon & Co. to a "hold" rating in a research report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $19.75.

Organon & Co. Stock Down 23.4 %

The company has a market cap of $2.58 billion, a PE ratio of 2.98, a PEG ratio of 0.90 and a beta of 0.73. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73. The company's fifty day moving average is $13.71 and its 200-day moving average is $15.08.

Organon & Co. (NYSE:OGN - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.83 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.09). Organon & Co. had a return on equity of 431.62% and a net margin of 13.49%. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.57 billion. On average, analysts predict that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Monday, February 24th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 11.30%. The ex-dividend date of this dividend was Monday, February 24th. Organon & Co.'s payout ratio is 33.63%.

Institutional Trading of Organon & Co.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC increased its stake in shares of Organon & Co. by 238.0% in the 3rd quarter. Barclays PLC now owns 119,483 shares of the company's stock worth $2,285,000 after purchasing an additional 84,136 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Organon & Co. in the third quarter worth about $185,000. Optimist Retirement Group LLC purchased a new position in shares of Organon & Co. during the 3rd quarter valued at about $1,974,000. Tidal Investments LLC lifted its position in shares of Organon & Co. by 10.6% during the 3rd quarter. Tidal Investments LLC now owns 76,525 shares of the company's stock valued at $1,464,000 after buying an additional 7,330 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Organon & Co. by 3.9% during the 3rd quarter. Franklin Resources Inc. now owns 344,138 shares of the company's stock valued at $6,229,000 after acquiring an additional 13,029 shares during the period. 77.43% of the stock is owned by hedge funds and other institutional investors.

About Organon & Co.

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.