Organon & Co. (NYSE:OGN – Get Free Report)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $13.60 and last traded at $13.5850, with a volume of 473808 shares traded. The stock had previously closed at $13.54.
Analyst Ratings Changes
A number of research analysts recently weighed in on the company. Piper Sandler raised Organon & Co. from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $5.00 to $14.00 in a research report on Tuesday, April 28th. Zacks Research raised Organon & Co. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 14th. BNP Paribas Exane restated a “neutral” rating and set a $14.00 price target (up from $12.00) on shares of Organon & Co. in a report on Wednesday, April 29th. Finally, Weiss Ratings raised Organon & Co. from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 15th. Five research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Organon & Co. presently has a consensus rating of “Reduce” and an average price target of $11.40.
View Our Latest Stock Report on OGN
Organon & Co. Trading Up 0.3%
Organon & Co. (NYSE:OGN – Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.12). Organon & Co. had a return on equity of 99.95% and a net margin of 3.99%.The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same quarter in the previous year, the firm earned $1.02 earnings per share. Organon & Co.’s revenue was down 3.5% on a year-over-year basis. On average, sell-side analysts forecast that Organon & Co. will post 3.23 EPS for the current year.
Organon & Co. Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Monday, May 11th were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.6%. The ex-dividend date was Monday, May 11th. Organon & Co.’s dividend payout ratio (DPR) is presently 8.60%.
Insiders Place Their Bets
In related news, SVP Lynette Holzbaur bought 26,448 shares of the stock in a transaction on Wednesday, May 6th. The shares were acquired at an average price of $13.35 per share, for a total transaction of $353,080.80. Following the purchase, the senior vice president owned 52,851 shares of the company’s stock, valued at approximately $705,560.85. The trade was a 100.17% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.62% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada boosted its holdings in Organon & Co. by 53.4% in the first quarter. Royal Bank of Canada now owns 360,862 shares of the company’s stock worth $5,374,000 after purchasing an additional 125,648 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Organon & Co. by 126.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,435,198 shares of the company’s stock valued at $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 raised its stake in Organon & Co. by 2.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,042,991 shares of the company’s stock valued at $15,530,000 after buying an additional 26,640 shares during the last quarter. Focus Partners Wealth lifted its holdings in shares of Organon & Co. by 33.2% during the 1st quarter. Focus Partners Wealth now owns 55,875 shares of the company’s stock valued at $832,000 after buying an additional 13,925 shares during the period. Finally, XTX Topco Ltd bought a new position in shares of Organon & Co. during the 2nd quarter valued at $107,000. 77.43% of the stock is owned by hedge funds and other institutional investors.
Organon & Co. Company Profile
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.
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