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

Organon & Co. (NYSE:OGN) was the recipient of a large growth in short interest during 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 volume of 3,101,063 shares, the short-interest ratio is presently 6.2 days. Approximately 7.5% of the shares of the stock are sold short.

Institutional Investors Weigh In On Organon & Co.

A number of hedge funds and other institutional investors have recently made changes to their positions in OGN. Foster Dykema Cabot & Partners LLC purchased a new position in Organon & Co. during the third quarter worth about $29,000. Farther Finance Advisors LLC lifted its holdings in shares of 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 acquiring an additional 2,033 shares during the period. Rothschild Investment LLC lifted its holdings in shares of Organon & Co. by 73.1% during the 3rd quarter. Rothschild Investment LLC now owns 3,899 shares of the company’s stock worth $42,000 after acquiring an additional 1,646 shares during the period. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Organon & Co. in the fourth quarter worth approximately $44,000. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Organon & Co. in the fourth quarter worth approximately $47,000. Hedge funds and other institutional investors own 77.43% of the company’s stock.

Organon & Co. Price Performance

Organon & Co. stock opened at $6.15 on Thursday. The stock has a market capitalization of $1.60 billion, a P/E ratio of 8.65, a P/E/G ratio of 0.55 and a beta of 0.67. Organon & Co. has a 12-month low of $5.69 and a 12-month high of $14.76. The company has a debt-to-equity ratio of 11.47, a current ratio of 1.82 and a quick ratio of 1.23. The firm’s 50-day moving average is $7.27 and its two-hundred day moving average is $7.93.

Organon & Co. (NYSE:OGN) last posted its quarterly earnings data 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 firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period in the prior year, the firm earned $0.90 EPS. The business’s quarterly revenue was down 5.3% on a year-over-year basis. Equities analysts predict that Organon & Co. will post 3.68 earnings per share for the current year.

Organon & Co. Dividend Announcement

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

Analysts Set New Price Targets

OGN has been the topic of a number of analyst reports. Zacks Research cut Organon & Co. from a “hold” rating to a “strong sell” rating in a report on Thursday, January 29th. Barclays boosted their price target on Organon & Co. from $7.50 to $8.00 and gave the stock an “underweight” rating in a report on Tuesday, February 24th. Finally, Wall Street Zen downgraded Organon & Co. from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. One equities research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $8.50.

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.