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

Organon & Co. (NYSE:OGN) shares reached a new 52-week high during mid-day 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 changing hands. The stock had previously closed at $13.78.

Analyst Ratings Changes

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

Organon & Co. Stock Performance

The stock’s 50-day simple moving average is $13.74 and its 200-day simple moving average is $11.42. The company has a current ratio of 1.95, a quick ratio of 1.44 and a debt-to-equity ratio of 8.43. The stock has a market cap of $3.63 billion, a price-to-earnings ratio of 17.93, a price-to-earnings-growth ratio of 1.27 and a beta of 1.55.

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 issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Friday, August 14th. Organon & Co.’s dividend payout ratio (DPR) is presently 10.39%.

Institutional Investors Weigh In On Organon & Co.

A number of 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 stake in Organon & Co. by 78.1% in the first quarter. First Trust Advisors LP now owns 3,227,320 shares of the company’s stock valued at $19,332,000 after acquiring an additional 1,415,239 shares during the last quarter. Groupe la Francaise bought a new position in Organon & Co. during the second quarter valued at $10,499,000. Absolute Gestao de Investimentos Ltda. bought a new position in shares of Organon & Co. during the 2nd quarter worth $9,007,000. Finally, WINTON GROUP Ltd bought a new position in Organon & Co. during the second quarter worth about $6,904,000. Institutional investors and hedge funds own 77.43% of the company’s stock.

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.