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

Organon & Co. (NYSE:OGN) hit a new 52-week high during trading on Wednesday . The stock traded as high as $13.72 and last traded at $13.6750, with a volume of 2158100 shares. The stock had previously closed at $13.70.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on OGN. Weiss Ratings cut Organon & Co. from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, August 3rd. Piper Sandler raised shares of 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. Finally, BNP Paribas Exane restated a “neutral” rating and set a $14.00 price objective (up from $12.00) on shares of Organon & Co. in a research report on Wednesday, April 29th. Five equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Organon & Co. currently has an average rating of “Reduce” and a consensus price target of $11.40.

Organon & Co. Stock Up 0.1%

The company has a current ratio of 1.95, a quick ratio of 1.44 and a debt-to-equity ratio of 8.43. The firm’s 50 day simple moving average is $13.54 and its two-hundred day simple moving average is $10.88. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 1.27 and a beta of 1.55.

Organon & Co. Dividend Announcement

The business 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 $0.02 dividend. 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%.

Hedge Funds Weigh In On Organon & Co.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Cetera Investment Advisers grew its stake in Organon & Co. by 1.7% in the 1st quarter. Cetera Investment Advisers now owns 48,073 shares of the company’s stock valued at $288,000 after purchasing an additional 788 shares during the period. Integrated Wealth Concepts LLC increased its holdings in Organon & Co. by 2.8% during the third quarter. Integrated Wealth Concepts LLC now owns 58,648 shares of the company’s stock worth $626,000 after buying an additional 1,594 shares during the last quarter. Rafferty Asset Management LLC raised its position in Organon & Co. by 8.5% in the second quarter. Rafferty Asset Management LLC now owns 23,578 shares of the company’s stock worth $228,000 after acquiring an additional 1,847 shares during the period. Bank of Nova Scotia boosted its stake in Organon & Co. by 4.6% in the third quarter. Bank of Nova Scotia now owns 44,512 shares of the company’s stock valued at $475,000 after acquiring an additional 1,947 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its position 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 valued at $31,000 after acquiring an additional 2,033 shares during the period. 77.43% of the stock is owned by institutional investors and hedge funds.

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.