Organon & Co. (NYSE:OGN) Sees Significant Increase in Short Interest

Organon & Co. (NYSE:OGN) was the target of a large increase in short interest in February. As of February 13th, there was short interest totaling 17,545,543 shares, an increase of 21.9% from the January 29th total of 14,393,046 shares. Based on an average daily volume of 5,311,139 shares, the days-to-cover ratio is presently 3.3 days. Approximately 6.8% of the company’s stock are sold short. Approximately 6.8% of the company’s stock are sold short. Based on an average daily volume of 5,311,139 shares, the days-to-cover ratio is presently 3.3 days.

Analysts Set New Price Targets

Several equities analysts recently issued reports on OGN shares. Morgan Stanley cut 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. JPMorgan Chase & Co. cut their price target on Organon & Co. from $14.00 to $12.00 and set an “underweight” rating on the stock in a report on Tuesday, November 11th. Zacks Research lowered Organon & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 29th. Barclays upped their price objective on Organon & Co. from $7.50 to $8.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 24th. Finally, Wall Street Zen lowered Organon & Co. from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $8.50.

Institutional Trading of Organon & Co.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Sector Gamma AS purchased a new position in shares of Organon & Co. in the third quarter valued at approximately $5,807,000. Bryce Point Capital LLC acquired a new position in Organon & Co. in the 2nd quarter valued at $465,000. Vanguard Group Inc. lifted its holdings in Organon & Co. by 11.3% in the 3rd quarter. Vanguard Group Inc. now owns 35,928,403 shares of the company’s stock valued at $383,715,000 after purchasing an additional 3,650,860 shares in the last quarter. Coldstream Capital Management Inc. boosted its stake in Organon & Co. by 61.6% during the 2nd quarter. Coldstream Capital Management Inc. now owns 22,686 shares of the company’s stock worth $220,000 after purchasing an additional 8,644 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings 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 in the last quarter. Institutional investors and hedge funds own 77.43% of the company’s stock.

Organon & Co. Stock Down 4.0%

Organon & Co. stock traded down $0.29 during midday trading on Tuesday, reaching $6.90. The company’s stock had a trading volume of 2,629,178 shares, compared to its average volume of 5,680,238. The company has a debt-to-equity ratio of 11.47, a current ratio of 1.82 and a quick ratio of 1.23. The stock has a market capitalization of $1.80 billion, a P/E ratio of 9.72, a PEG ratio of 0.66 and a beta of 0.58. The stock’s 50-day simple moving average is $8.00 and its 200-day simple moving average is $8.44. Organon & Co. has a 52-week low of $6.18 and a 52-week high of $16.08.

Organon & Co. (NYSE:OGN) last announced its quarterly earnings data on Thursday, February 12th. The company reported $0.63 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.10). The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Organon & Co. had a net margin of 3.01% and a return on equity of 122.01%. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.90 earnings per share. On average, sell-side analysts expect that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Investors of record on Monday, February 23rd will be paid a $0.02 dividend. The ex-dividend date is Monday, February 23rd. This represents a $0.08 dividend on an annualized basis and a yield of 1.2%. Organon & Co.’s dividend payout ratio (DPR) is 11.27%.

Organon & Co. Company Profile

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.