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 Thursday. The company traded as high as $13.83 and last traded at $13.8050, with a volume of 2,506,384 shares trading hands. The stock had previously closed at $13.78.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Organon & Co. from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th. Five analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $11.40.

Organon & Co. Stock Performance

The company has a debt-to-equity ratio of 8.43, a current ratio of 1.95 and a quick ratio of 1.44. The firm has a market cap of $3.63 billion, a P/E ratio of 17.95, a PEG ratio of 1.28 and a beta of 1.55. The stock’s 50 day moving average is $13.74 and its two-hundred day moving average is $11.47.

Hedge Funds Weigh In On Organon & Co.

A number of hedge funds have recently modified their holdings of the stock. Kahn Brothers Group Inc. acquired a new position in Organon & Co. in the second quarter valued at about $36,159,000. First Trust Advisors LP increased its holdings in shares of Organon & Co. by 78.1% during the first quarter. First Trust Advisors LP now owns 3,227,320 shares of the company’s stock worth $19,332,000 after buying an additional 1,415,239 shares in the last quarter. Groupe la Francaise bought a new position in shares of Organon & Co. in the second quarter valued at approximately $10,499,000. Absolute Gestao de Investimentos Ltda. bought a new position in shares of Organon & Co. in the second quarter valued at approximately $9,007,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of Organon & Co. by 2.1% in the 1st quarter. Principal Financial Group Inc. now owns 1,260,689 shares of the company’s stock worth $7,552,000 after acquiring an additional 25,495 shares in the last quarter. 77.43% of the stock is owned by institutional investors and hedge funds.

About Organon & Co.

Organon & Co is a global health care company focused on improving the health and quality of life of women throughout their lives. The company develops, manufactures and commercializes prescription medicines and other health care products, with operations serving patients and health care providers in markets around the world.

Organon’s women’s health portfolio includes contraceptive products such as Nexplanon and NuvaRing, as well as medicines and technologies related to fertility, pregnancy and other reproductive health needs.