Organon & Co. (NYSE:OGN) Reaches New 52-Week High – Should You Buy?

Organon & Co. (NYSE:OGN)’s stock price hit a new 52-week high during trading on Friday . The company traded as high as $13.60 and last traded at $13.5950, with a volume of 2403529 shares. The stock had previously closed at $13.55.

Analyst Upgrades and Downgrades

OGN has been the topic of several recent research reports. Zacks Research raised shares of Organon & Co. from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 14th. Piper Sandler raised Organon & Co. from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $5.00 to $14.00 in a research note on Tuesday, April 28th. BNP Paribas Exane reaffirmed a “neutral” rating and issued a $14.00 price objective (up from $12.00) on shares of Organon & Co. in a research note on Wednesday, April 29th. Finally, Weiss Ratings cut Organon & Co. from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday. Five equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $11.40.

Organon & Co. Stock Up 0.3%

The stock has a market cap of $3.57 billion, a P/E ratio of 17.66, a price-to-earnings-growth ratio of 1.26 and a beta of 1.55. The company’s fifty day moving average price is $13.49 and its 200-day moving average price is $10.56. The company has a debt-to-equity ratio of 8.43, a quick ratio of 1.42 and a current ratio of 1.95.

Organon & Co. Dividend Announcement

The firm 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. This represents a $0.08 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Friday, August 14th. Organon & Co.’s payout ratio is 10.39%.

Institutional Investors Weigh In On Organon & Co.

Several hedge funds and other institutional investors have recently modified their holdings of OGN. Handelsbanken Fonder AB boosted its holdings in Organon & Co. by 24.8% during the 2nd quarter. Handelsbanken Fonder AB now owns 113,800 shares of the company’s stock valued at $1,541,000 after acquiring an additional 22,600 shares during the period. Allied Private Wealth LLC purchased a new stake in shares of Organon & Co. in the second quarter valued at approximately $33,000. GAMMA Investing LLC increased its holdings in Organon & Co. by 69.8% during the 2nd quarter. GAMMA Investing LLC now owns 5,782 shares of the company’s stock worth $78,000 after purchasing an additional 2,376 shares during the period. WNY Asset Management LLC bought a new stake in Organon & Co. during the 1st quarter valued at $64,000. Finally, Orographic Financial Advisors LLC bought a new stake in Organon & Co. during the 1st quarter valued at $1,522,000. 77.43% of the stock is currently 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.