Organon & Co. (NYSE:OGN) Trading Up 10.9% – Here’s What Happened

Organon & Co. (NYSE:OGN)’s share price rose 10.9% during mid-day trading on Monday . The company traded as high as $7.60 and last traded at $7.5190. Approximately 5,765,843 shares changed hands during trading, an increase of 24% from the average daily volume of 4,651,940 shares. The stock had previously closed at $6.78.

Analyst Upgrades and Downgrades

OGN has been the topic of several analyst reports. Weiss Ratings restated a “sell (d+)” rating on shares of Organon & Co. in a research note on Wednesday, October 8th. Piper Sandler lowered Organon & Co. from an “overweight” rating to an “underweight” rating and set a $5.00 price target for the company. in a research report on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $13.00.

Organon & Co. Stock Up 14.0%

The company has a debt-to-equity ratio of 11.98, a quick ratio of 1.13 and a current ratio of 1.65. The stock’s fifty day simple moving average is $9.40 and its two-hundred day simple moving average is $9.55. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 2.87, a P/E/G ratio of 0.61 and a beta of 0.59.

Institutional Investors Weigh In On Organon & Co.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Hanson & Doremus Investment Management bought a new stake in shares of Organon & Co. during the 2nd quarter worth $26,000. Hantz Financial Services Inc. boosted its position in shares of Organon & Co. by 293.8% in the 2nd quarter. Hantz Financial Services Inc. now owns 2,674 shares of the company’s stock valued at $26,000 after purchasing an additional 1,995 shares during the period. Ransom Advisory Ltd purchased a new position in Organon & Co. in the 1st quarter worth about $32,000. SouthState Corp raised its holdings in Organon & Co. by 1,857.0% during the 2nd quarter. SouthState Corp now owns 3,914 shares of the company’s stock worth $38,000 after buying an additional 3,714 shares during the period. Finally, Rothschild Investment LLC lifted its stake in Organon & Co. by 73.1% during the third quarter. Rothschild Investment LLC now owns 3,899 shares of the company’s stock valued at $42,000 after buying an additional 1,646 shares in the last quarter. Institutional investors and hedge funds own 77.43% of the company’s stock.

About Organon & Co.

Organon & Co is a science based global pharmaceutical company, which develops and delivers innovative health solutions through a portfolio of prescription therapies within women’s health, biosimilars and established brands. The company was founded on March 11, 2020, and is headquartered in Jersey City, NJ.