Organon & Co. (NYSE:OGN) Trading Up 8.8% – Time to Buy?

Organon & Co. (NYSE:OGN) rose 8.8% during trading on Tuesday . The stock traded as high as $9.43 and last traded at $9.5330. Approximately 8,081,577 shares changed hands during trading, an increase of 29% from the average daily volume of 6,268,221 shares. The stock had previously closed at $8.76.

Analysts Set New Price Targets

OGN has been the topic of a number of analyst reports. Piper Sandler lowered shares of Organon & Co. from an “overweight” rating to an “underweight” rating and set a $5.00 price objective on the stock. in a report on Monday, October 27th. Wall Street Zen upgraded Organon & Co. from a “hold” rating to a “buy” rating in a research note on Saturday, January 3rd. Morgan Stanley decreased their price target on Organon & Co. from $10.00 to $9.00 and set an “equal weight” rating for the company in a report on Tuesday, November 11th. JPMorgan Chase & Co. lowered their price objective on Organon & Co. from $14.00 to $12.00 and set an “underweight” rating for the company in a research report on Tuesday, November 11th. Finally, Barclays started coverage on Organon & Co. in a research report on Tuesday, December 9th. They set an “underweight” rating and a $7.50 target price on the stock. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, Organon & Co. has a consensus rating of “Reduce” and an average target price of $8.38.

Organon & Co. Trading Up 8.3%

The company has a quick ratio of 1.20, a current ratio of 1.75 and a debt-to-equity ratio of 9.69. The stock has a market capitalization of $2.47 billion, a PE ratio of 4.94, a PEG ratio of 1.82 and a beta of 0.58. The business’s 50-day moving average is $7.50 and its two-hundred day moving average is $8.76.

Organon & Co. (NYSE:OGN) last posted its earnings results on Monday, November 10th. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.08. Organon & Co. had a return on equity of 143.47% and a net margin of 7.95%.The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter in the previous year, the firm earned $1.38 earnings per share. On average, analysts anticipate that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Thursday, November 20th were paid a $0.02 dividend. The ex-dividend date was Thursday, November 20th. This represents a $0.08 dividend on an annualized basis and a yield of 0.8%. Organon & Co.’s payout ratio is currently 4.17%.

Institutional Investors Weigh In On Organon & Co.

Several large investors have recently modified their holdings of the company. State of New Jersey Common Pension Fund D raised its position in Organon & Co. by 69.0% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 216,737 shares of the company’s stock valued at $2,098,000 after purchasing an additional 88,454 shares during the last quarter. Bryce Point Capital LLC purchased a new position in Organon & Co. during the 2nd quarter worth $465,000. Coldstream Capital Management Inc. increased its stake in Organon & Co. by 61.6% in the second quarter. Coldstream Capital Management Inc. now owns 22,686 shares of the company’s stock valued at $220,000 after purchasing an additional 8,644 shares during the period. American Century Companies Inc. raised its holdings in shares of Organon & Co. by 1,205.1% in the second quarter. American Century Companies Inc. now owns 522,013 shares of the company’s stock valued at $5,053,000 after buying an additional 482,016 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Organon & Co. by 1.1% during the second quarter. Nordea Investment Management AB now owns 4,904,076 shares of the company’s stock worth $48,281,000 after buying an additional 53,733 shares during the period. 77.43% of the stock is owned by institutional investors and hedge funds.

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.