Organon & Co. (NYSE:OGN) Trading Down 5% – Here’s What Happened

Shares of Organon & Co. (NYSE:OGN) were down 5% during trading on Monday . The stock traded as low as $9.21 and last traded at $9.2750. Approximately 5,129,393 shares changed hands during mid-day trading, a decline of 10% from the average daily volume of 5,724,295 shares. The stock had previously closed at $9.76.

Wall Street Analyst Weigh In

Several research analysts recently commented on OGN shares. Barclays raised their target price on Organon & Co. from $7.50 to $8.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 24th. Wall Street Zen cut Organon & Co. from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Zacks Research raised Organon & Co. from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, Organon & Co. has an average rating of “Reduce” and an average price target of $8.50.

Organon & Co. Stock Performance

The company has a market capitalization of $2.42 billion, a P/E ratio of 13.07, a price-to-earnings-growth ratio of 0.90 and a beta of 0.67. The firm has a 50 day moving average price of $7.03 and a two-hundred day moving average price of $7.68. The company has a debt-to-equity ratio of 11.47, a quick ratio of 1.23 and a current ratio of 1.82.

Organon & Co. (NYSE:OGN) last released its quarterly earnings data on Thursday, February 12th. The company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.10). Organon & Co. had a net margin of 3.01% and a return on equity of 122.01%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the prior year, the company posted $0.90 earnings per share. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. On average, research analysts expect that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Monday, February 23rd were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Monday, February 23rd. Organon & Co.’s dividend payout ratio is currently 11.27%.

Institutional Trading of Organon & Co.

Several large investors have recently added to or reduced their stakes in OGN. Royal Bank of Canada grew its stake in Organon & Co. by 53.4% during the first quarter. Royal Bank of Canada now owns 360,862 shares of the company’s stock worth $5,374,000 after buying an additional 125,648 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Organon & Co. by 126.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,435,198 shares of the company’s stock worth $21,370,000 after buying an additional 801,307 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Organon & Co. by 2.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,042,991 shares of the company’s stock worth $15,530,000 after buying an additional 26,640 shares during the last quarter. Focus Partners Wealth grew its stake in Organon & Co. by 33.2% during the first quarter. Focus Partners Wealth now owns 55,875 shares of the company’s stock worth $832,000 after buying an additional 13,925 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in Organon & Co. during the second quarter worth about $107,000. 77.43% of the stock is owned by institutional investors.

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.