Organon & Co. (NYSE:OGN – Get Free Report)’s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $13.70 and last traded at $13.66, with a volume of 5548898 shares traded. The stock had previously closed at $13.65.
Analysts Set New Price Targets
Several analysts have issued reports on the company. Weiss Ratings lowered Organon & Co. from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, August 3rd. Piper Sandler raised Organon & Co. from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $5.00 to $14.00 in a report on Tuesday, April 28th. Finally, BNP Paribas Exane reissued a “neutral” rating and issued a $14.00 price objective (up from $12.00) on shares of Organon & Co. in a report on Wednesday, April 29th. Five research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $11.40.
Get Our Latest Report on Organon & Co.
Organon & Co. Stock Performance
Organon & Co. Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 14th will be given a dividend of $0.02 per share. The ex-dividend date is Friday, August 14th. This represents a $0.08 annualized dividend and a dividend yield of 0.6%. Organon & Co.’s dividend payout ratio is currently 10.39%.
Hedge Funds Weigh In On Organon & Co.
Several hedge funds have recently made changes to their positions in OGN. Farther Finance Advisors LLC lifted 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 purchasing an additional 2,033 shares in the last quarter. Allied Private Wealth LLC purchased a new position in Organon & Co. during the 2nd quarter valued at about $33,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of Organon & Co. during the fourth quarter valued at about $44,000. Kestra Advisory Services LLC bought a new stake in shares of Organon & Co. during the fourth quarter valued at about $47,000. Finally, WNY Asset Management LLC bought a new stake in shares of Organon & Co. during the first quarter valued at about $64,000. 77.43% of the stock is currently owned by hedge funds and other 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.
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