Organon & Co. (NYSE:OGN) Hits New 1-Year High After Analyst Upgrade

Organon & Co. (NYSE:OGN) shares reached a new 52-week high during mid-day trading on Tuesday after Piper Sandler upgraded the stock from an underweight rating to a neutral rating. Piper Sandler now has a $14.00 price target on the stock, up from their previous price target of $5.00. Organon & Co. traded as high as $13.24 and last traded at $13.1550, with a volume of 133808830 shares changing hands. The stock had previously closed at $11.26.

A number of other analysts have also issued reports on the company. Barclays increased their target price on Organon & Co. from $7.50 to $8.00 and gave the company an “underweight” rating in a report on Tuesday, February 24th. Wall Street Zen lowered Organon & Co. from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Finally, Zacks Research upgraded Organon & Co. from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 14th. Four research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, Organon & Co. has a consensus rating of “Reduce” and a consensus target price of $11.40.

Institutional Trading of Organon & Co.

Several hedge funds and other institutional investors have recently modified their holdings of OGN. AQR Capital Management LLC raised its holdings in shares of Organon & Co. by 105.2% during the fourth quarter. AQR Capital Management LLC now owns 8,570,958 shares of the company’s stock worth $61,282,000 after acquiring an additional 4,394,814 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Organon & Co. by 11.3% during the third quarter. Vanguard Group Inc. now owns 35,928,403 shares of the company’s stock worth $383,715,000 after acquiring an additional 3,650,860 shares in the last quarter. UBS Group AG increased its position in Organon & Co. by 55.2% during the fourth quarter. UBS Group AG now owns 4,295,002 shares of the company’s stock worth $30,795,000 after buying an additional 1,527,492 shares during the last quarter. Private Management Group Inc. increased its position in Organon & Co. by 38.3% during the fourth quarter. Private Management Group Inc. now owns 4,347,073 shares of the company’s stock worth $31,169,000 after buying an additional 1,204,979 shares during the last quarter. Finally, Balyasny Asset Management L.P. increased its position in Organon & Co. by 102.1% during the third quarter. Balyasny Asset Management L.P. now owns 2,240,149 shares of the company’s stock worth $23,925,000 after buying an additional 1,131,941 shares during the last quarter. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

Organon & Co. Price Performance

The company has a quick ratio of 1.23, a current ratio of 1.82 and a debt-to-equity ratio of 11.47. The stock has a market capitalization of $3.50 billion, a price-to-earnings ratio of 18.79, a P/E/G ratio of 1.22 and a beta of 0.67. The company’s 50-day simple moving average is $7.57 and its 200 day simple moving average is $7.72.

Organon & Co. (NYSE:OGN) last posted its earnings results on Thursday, April 30th. The company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.13). The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.50 billion. Organon & Co. had a return on equity of 122.01% and a net margin of 3.01%. Equities research analysts forecast that Organon & Co. will post 3.23 EPS for the current year.

Organon & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Monday, February 23rd were given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Monday, February 23rd. Organon & Co.’s dividend payout ratio is presently 11.27%.

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.