Organon & Co. Sees Unusually Large Options Volume (NYSE:OGN)

Organon & Co. (NYSE:OGN) saw unusually large options trading on Thursday. Traders acquired 21,055 put options on the company. This is an increase of 846% compared to the typical volume of 2,226 put options.

Analyst Ratings Changes

A number of brokerages recently weighed in on OGN. TD Cowen raised Organon & Co. to a “hold” rating in a research note on Wednesday, January 15th. Barclays lowered their price objective on Organon & Co. from $26.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Finally, Morgan Stanley decreased their price target on Organon & Co. from $16.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Organon & Co. currently has an average rating of “Hold” and an average target price of $19.75.

Hedge Funds Weigh In On Organon & Co.

A number of institutional investors have recently added to or reduced their stakes in OGN. Horizon Bancorp Inc. IN increased its holdings in shares of Organon & Co. by 2,401.5% in the fourth quarter. Horizon Bancorp Inc. IN now owns 1,651 shares of the company’s stock valued at $25,000 after purchasing an additional 1,585 shares during the last quarter. Millstone Evans Group LLC acquired a new position in shares of Organon & Co. in the fourth quarter valued at $29,000. Larson Financial Group LLC increased its holdings in shares of Organon & Co. by 345.4% in the fourth quarter. Larson Financial Group LLC now owns 2,236 shares of the company’s stock valued at $33,000 after purchasing an additional 1,734 shares during the last quarter. Riverview Trust Co increased its holdings in shares of Organon & Co. by 117.7% in the fourth quarter. Riverview Trust Co now owns 2,390 shares of the company’s stock valued at $36,000 after purchasing an additional 1,292 shares during the last quarter. Finally, Versant Capital Management Inc increased its holdings in shares of Organon & Co. by 92.2% in the fourth quarter. Versant Capital Management Inc now owns 2,760 shares of the company’s stock valued at $41,000 after purchasing an additional 1,324 shares during the last quarter. 77.43% of the stock is currently owned by institutional investors and hedge funds.

Organon & Co. Price Performance

NYSE OGN opened at $9.44 on Friday. The company has a market capitalization of $2.45 billion, a PE ratio of 2.83, a price-to-earnings-growth ratio of 0.90 and a beta of 0.73. Organon & Co. has a 12-month low of $9.25 and a 12-month high of $23.10. The firm’s 50 day moving average is $13.60 and its 200-day moving average is $15.02. The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73.

Organon & Co. (NYSE:OGN) last issued its earnings results on Thursday, May 1st. The company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.10. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.53 billion. Organon & Co. had a net margin of 13.49% and a return on equity of 431.62%. The firm’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.22 earnings per share. Equities research analysts anticipate that Organon & Co. will post 3.68 earnings per share for the current fiscal year.

Organon & Co. Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Monday, February 24th were issued a dividend of $0.28 per share. The ex-dividend date was Monday, February 24th. This represents a $1.12 dividend on an annualized basis and a yield of 11.86%. Organon & Co.’s payout ratio is 33.63%.

About Organon & Co.

Organon & Co is a science based global pharmaceutical company, which develops and delivers innovative health solutions through a portfolio of prescription therapies within women’s health, biosimilars and established brands. The company was founded on March 11, 2020, and is headquartered in Jersey City, NJ.