Organon & Co. (NYSE:OGN) Short Interest Update

Organon & Co. (NYSE:OGN) was the target of a significant growth in short interest in March. As of March 13th, there was short interest totaling 19,323,061 shares, a growth of 18.7% from the February 26th total of 16,278,054 shares. Based on an average daily trading volume, of 3,101,063 shares, the days-to-cover ratio is currently 6.2 days. Approximately 7.5% of the company’s stock are short sold.

Organon & Co. Stock Performance

Organon & Co. stock traded up $0.15 during mid-day trading on Wednesday, hitting $6.14. 3,119,810 shares of the company’s stock traded hands, compared to its average volume of 4,922,971. 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 firm has a 50 day simple moving average of $7.34 and a two-hundred day simple moving average of $7.95. Organon & Co. has a fifty-two week low of $5.69 and a fifty-two week high of $14.76. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 8.63, a P/E/G ratio of 0.53 and a beta of 0.60.

Organon & Co. (NYSE:OGN) last released 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 analyst estimates of $1.52 billion. Organon & Co. had a net margin of 3.01% and a return on equity of 122.01%. Organon & Co.’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.90 earnings per share. On average, research analysts expect that Organon & Co. will post 3.68 EPS for the current fiscal year.

Organon & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Monday, February 23rd were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Monday, February 23rd. Organon & Co.’s dividend payout ratio is currently 11.27%.

Institutional Investors Weigh In On Organon & Co.

A number of institutional investors have recently made changes to their positions in the company. Royal Bank of Canada grew its position in shares of Organon & Co. by 53.4% in the first quarter. Royal Bank of Canada now owns 360,862 shares of the company’s stock valued at $5,374,000 after purchasing an additional 125,648 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Organon & Co. by 126.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,435,198 shares of the company’s stock valued at $21,370,000 after purchasing an additional 801,307 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Organon & Co. by 2.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,042,991 shares of the company’s stock valued at $15,530,000 after buying an additional 26,640 shares in the last quarter. Focus Partners Wealth grew its holdings in Organon & Co. by 33.2% in the 1st quarter. Focus Partners Wealth now owns 55,875 shares of the company’s stock valued at $832,000 after buying an additional 13,925 shares in the last quarter. Finally, Cetera Investment Advisers increased its position in Organon & Co. by 7.3% during the 2nd quarter. Cetera Investment Advisers now owns 79,191 shares of the company’s stock worth $767,000 after buying an additional 5,421 shares during the period. Institutional investors own 77.43% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Zacks Research lowered shares of Organon & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 29th. Wall Street Zen downgraded shares of Organon & Co. from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Barclays upped their target price on shares of Organon & Co. from $7.50 to $8.00 and gave the company an “underweight” rating in a report on Tuesday, February 24th. One equities research 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 company has a consensus rating of “Reduce” and a consensus price target of $8.50.

About Organon & Co.

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.