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

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

Institutional Trading of Organon & Co.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Hsbc Holdings PLC lifted its stake in Organon & Co. by 17.2% in the fourth quarter. Hsbc Holdings PLC now owns 22,953 shares of the company’s stock valued at $165,000 after acquiring an additional 3,373 shares during the last quarter. Corient Private Wealth LLC lifted its position in Organon & Co. by 57.3% during the fourth quarter. Corient Private Wealth LLC now owns 35,727 shares of the company’s stock worth $256,000 after purchasing an additional 13,019 shares during the period. Alpine Global Management LLC acquired a new stake in shares of Organon & Co. during the 4th quarter worth approximately $180,000. Invesco Ltd. lifted its stake in Organon & Co. by 38.1% during the fourth quarter. Invesco Ltd. now owns 2,222,248 shares of the company’s stock worth $15,934,000 after purchasing an additional 613,352 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its position in Organon & Co. by 8.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 53,577 shares of the company’s stock valued at $384,000 after acquiring an additional 4,308 shares during the last quarter. Institutional investors and hedge funds own 77.43% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on OGN. 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 downgraded Organon & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 29th. Finally, Barclays lifted their target price on Organon & Co. from $7.50 to $8.00 and gave the stock an “underweight” rating in a report on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $8.50.

Organon & Co. Stock Up 5.2%

Shares of NYSE OGN traded up $0.30 during midday trading on Tuesday, reaching $6.00. The company’s stock had a trading volume of 3,003,242 shares, compared to its average volume of 3,456,754. The stock has a 50 day simple moving average of $7.34 and a 200-day simple moving average of $7.95. The company has a current ratio of 1.82, a quick ratio of 1.23 and a debt-to-equity ratio of 11.47. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 8.44, a PEG 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.

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

Organon & Co. Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Monday, February 23rd were paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Monday, February 23rd. Organon & Co.’s dividend payout ratio is currently 11.27%.

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.