Organon & Co. (NYSE:OGN) Short Interest Up 18.7% in March

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

Organon & Co. Trading Up 5.2%

Shares of NYSE OGN traded up $0.30 during midday trading on Tuesday, hitting $6.00. The stock had a trading volume of 3,003,242 shares, compared to its average volume of 3,456,754. The firm has a market cap of $1.56 billion, a P/E ratio of 8.44, a price-to-earnings-growth ratio of 0.53 and a beta of 0.60. Organon & Co. has a fifty-two week low of $5.69 and a fifty-two week high of $14.94. 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 company’s 50-day simple moving average is $7.34 and its 200 day simple moving average is $7.95.

Organon & Co. (NYSE:OGN) last issued its quarterly earnings results on Thursday, February 12th. The company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.10). The firm had revenue of $1.51 billion for 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%. The company’s revenue was down 5.3% compared to the same quarter last year. During the same period last year, the company earned $0.90 EPS. Research analysts anticipate that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Announces Dividend

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. The ex-dividend date was Monday, February 23rd. This represents a $0.08 dividend on an annualized basis and a yield of 1.3%. Organon & Co.’s dividend payout ratio is presently 11.27%.

Institutional Investors Weigh In On Organon & Co.

Institutional investors have recently modified their holdings of the business. Foster Dykema Cabot & Partners LLC acquired a new position in Organon & Co. in the third quarter valued at approximately $29,000. Farther Finance Advisors LLC grew its holdings in Organon & Co. by 87.8% during the 4th quarter. Farther Finance Advisors LLC now owns 4,349 shares of the company’s stock worth $31,000 after acquiring an additional 2,033 shares during the period. Rothschild Investment LLC grew its holdings in Organon & Co. by 73.1% during the 3rd quarter. Rothschild Investment LLC now owns 3,899 shares of the company’s stock worth $42,000 after acquiring an additional 1,646 shares during the period. Eurizon Capital SGR S.p.A. bought a new stake in shares of Organon & Co. during the 4th quarter valued at $44,000. Finally, Kestra Advisory Services LLC bought a new stake in shares of Organon & Co. during the 4th quarter valued at $47,000. Institutional investors and hedge funds own 77.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Wall Street Zen cut shares of Organon & Co. from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Zacks Research lowered shares of Organon & Co. from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 29th. Finally, Barclays increased their price target on shares of Organon & Co. from $7.50 to $8.00 and gave the company an “underweight” rating in a research note on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average 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.