Organon & Co. (NYSE:OGN) Hits New 1-Year High - Here's What Happened

Key Points

• Organon reached a 52-week high of $13.89 in mid-day trading, up about 0.3% from its previous close.
• Analyst sentiment remains cautious: the stock has an average “Reduce” rating and an average price target of $11.40, below its trading price.
• Quarterly earnings were $0.94 per share, beating estimates of $0.88, while revenue of $1.57 billion slightly missed expectations. The company also declared a $0.02 quarterly dividend.

Organon & Co. (NYSE:OGN - Get Free Report) reached a new 52-week high during mid-day trading on Tuesday. The stock traded as high as $13.89 and last traded at $13.8850, with a volume of 1,337,922 shares. The stock had previously closed at $13.85.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Organon & Co. from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, October 8th. Five research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Reduce" and an average price target of $11.40.

Organon & Co. Stock Up 0.3%

The company has a market capitalization of $3.65 billion, a PE ratio of 18.28, a price-to-earnings-growth ratio of 1.27 and a beta of 1.53. The firm's 50-day simple moving average is $13.75 and its 200 day simple moving average is $11.62. The company has a debt-to-equity ratio of 7.11, a quick ratio of 1.44 and a current ratio of 2.02.

Organon & Co. (NYSE:OGN - Get Free Report) last announced its quarterly earnings data on Friday, October 30th. The company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.88 by $0.06. The firm had revenue of $1.57 billion during the quarter, compared to analysts' expectations of $1.58 billion. Organon & Co. had a net margin of 3.49% and a return on equity of 82.06%. As a group, equities research analysts forecast that Organon & Co. will post 3.24 earnings per share for the current year.

Organon & Co. Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Monday, November 9th will be given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Monday, November 9th. Organon & Co.'s dividend payout ratio (DPR) is presently 10.53%.

Institutional Investors Weigh In On Organon & Co.

Several institutional investors have recently modified their holdings of the company. First Trust Advisors LP raised its holdings in Organon & Co. by 78.1% during the first quarter. First Trust Advisors LP now owns 3,227,320 shares of the company's stock worth $19,332,000 after purchasing an additional 1,415,239 shares during the last quarter. Kahn Brothers Group Inc. purchased a new position in shares of Organon & Co. in the second quarter valued at $36,159,000. Principal Financial Group Inc. raised its stake in shares of Organon & Co. by 2.1% during the 1st quarter. Principal Financial Group Inc. now owns 1,260,689 shares of the company's stock worth $7,552,000 after buying an additional 25,495 shares during the last quarter. Groupe la Francaise purchased a new stake in shares of Organon & Co. in the 2nd quarter worth about $10,499,000. Finally, Absolute Gestao de Investimentos Ltda. purchased a new stake in shares of Organon & Co. in the 2nd quarter worth about $9,007,000. Hedge funds and other institutional investors own 77.43% of the company's stock.

Organon & Co. Company Profile

Organon & Co. is a global health care company focused on women's health, biosimilars and established medicines. It develops and markets prescription medicines and other health products for patients and health care professionals. Its women's health portfolio includes contraceptive and fertility products, while its biosimilars business offers biologic medicines in areas such as immunology and oncology. The company also sells established medicines across several therapeutic areas, including cardiovascular health, respiratory conditions and dermatology.

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