Organon & Co. (NYSE:OGN) Reaches New 12-Month High - Here's What Happened

Key Points

• Organon shares reached a new 52-week high of $13.83 and last traded near $13.81, up slightly from the prior close.
• Analyst sentiment remains cautious: five analysts rate the stock Hold and two rate it Sell, resulting in a consensus “Reduce” rating and an average price target of $11.40.
• The company pays a quarterly dividend of $0.02, equivalent to an annualized $0.08 and a 0.6% yield, while institutional investors and hedge funds own 77.43% of outstanding shares.

Shares of Organon & Co. (NYSE:OGN - Get Free Report) hit a new 52-week high during trading on Thursday. The company traded as high as $13.83 and last traded at $13.8050, with a volume of 2,506,384 shares traded. The stock had previously closed at $13.78.

Analysts Set New Price Targets

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

Organon & Co. Stock Up 0.2%

The firm has a 50 day moving average price of $13.74 and a 200-day moving average price of $11.42. The firm has a market cap of $3.63 billion, a PE ratio of 17.93, a PEG ratio of 1.27 and a beta of 1.55. The company has a current ratio of 1.95, a quick ratio of 1.44 and a debt-to-equity ratio of 8.43.

Organon & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Friday, August 14th were paid a $0.02 dividend. The ex-dividend date was Friday, August 14th. This represents a $0.08 dividend on an annualized basis and a yield of 0.6%. Organon & Co.'s dividend payout ratio (DPR) is currently 10.39%.

Hedge Funds Weigh In On Organon & Co.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OGN. Kahn Brothers Group Inc. bought a new position in Organon & Co. in the 2nd quarter valued at about $36,159,000. First Trust Advisors LP boosted its position in shares of Organon & Co. by 78.1% in the first quarter. First Trust Advisors LP now owns 3,227,320 shares of the company's stock worth $19,332,000 after buying an additional 1,415,239 shares during the period. Groupe la Francaise purchased a new stake in Organon & Co. in the 2nd quarter worth approximately $10,499,000. Absolute Gestao de Investimentos Ltda. bought a new stake in shares of Organon & Co. in the 2nd quarter valued at approximately $9,007,000. Finally, WINTON GROUP Ltd acquired a new stake in Organon & Co. in the second quarter valued at approximately $6,904,000. 77.43% of the stock is owned by institutional investors and hedge funds.

Organon & Co. Company Profile

Organon & Co is a global health care company focused on improving the health and quality of life of women throughout their lives. The company develops, manufactures and commercializes prescription medicines and other health care products, with operations serving patients and health care providers in markets around the world.

Organon's women's health portfolio includes contraceptive products such as Nexplanon and NuvaRing, as well as medicines and technologies related to fertility, pregnancy and other reproductive health needs.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.