Organon & Co. (NYSE:OGN) Sets New 12-Month High – Here’s What Happened

Organon & Co. (NYSE:OGN)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $13.70 and last traded at $13.66, with a volume of 5548898 shares trading hands. The stock had previously closed at $13.65.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Piper Sandler upgraded Organon & Co. from an “underweight” rating to a “neutral” rating and increased their price target for the company from $5.00 to $14.00 in a report on Tuesday, April 28th. BNP Paribas Exane reaffirmed a “neutral” rating and issued a $14.00 target price (up from $12.00) on shares of Organon & Co. in a research report on Wednesday, April 29th. Finally, Weiss Ratings lowered Organon & Co. from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, August 3rd. Five equities 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 has an average rating of “Reduce” and a consensus target price of $11.40.

Organon & Co. Price Performance

The business’s 50 day moving average price is $13.51 and its 200-day moving average price is $10.68. The company has a quick ratio of 1.44, a current ratio of 1.95 and a debt-to-equity ratio of 8.43. The company has a market cap of $3.59 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 1.26 and a beta of 1.55.

Organon & Co. Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Friday, August 14th will be paid a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.08 annualized dividend and a yield of 0.6%. Organon & Co.’s payout ratio is 10.39%.

Hedge Funds Weigh In On Organon & Co.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OGN. AQR Capital Management LLC grew its stake in shares of Organon & Co. by 105.2% during the fourth quarter. AQR Capital Management LLC now owns 8,570,958 shares of the company’s stock valued at $61,282,000 after acquiring an additional 4,394,814 shares in the last quarter. UBS Group AG lifted its stake in shares of Organon & Co. by 55.2% in the fourth quarter. UBS Group AG now owns 4,295,002 shares of the company’s stock worth $30,795,000 after acquiring an additional 1,527,492 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Organon & Co. by 78.1% in the first quarter. First Trust Advisors LP now owns 3,227,320 shares of the company’s stock worth $19,332,000 after acquiring an additional 1,415,239 shares in the last quarter. Private Management Group Inc. boosted its holdings in Organon & Co. by 38.3% in the fourth quarter. Private Management Group Inc. now owns 4,347,073 shares of the company’s stock valued at $31,169,000 after purchasing an additional 1,204,979 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its holdings in Organon & Co. by 102.1% in the third quarter. Balyasny Asset Management L.P. now owns 2,240,149 shares of the company’s stock valued at $23,925,000 after purchasing an additional 1,131,941 shares during the last quarter. 77.43% of the stock is 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.