Organon & Co. (NYSE:OGN) Short Interest Update

Organon & Co. (NYSE:OGN) saw a large decrease in short interest in May. As of May 15th, there was short interest totalling 15,960,000 shares, a decrease of 19.0% from the April 30th total of 19,700,000 shares. Currently, 6.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 5,580,000 shares, the days-to-cover ratio is currently 2.9 days.

Wall Street Analyst Weigh In

OGN has been the topic of a number of research reports. Piper Sandler cut their price target on shares of Organon & Co. from $24.00 to $18.00 and set an “overweight” rating on the stock in a research note on Thursday, May 15th. Barclays decreased their price target on shares of Organon & Co. from $26.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. Morgan Stanley decreased their price target on shares of Organon & Co. from $15.00 to $10.00 and set an “equal weight” rating on the stock in a research note on Monday, May 5th. Evercore ISI cut shares of Organon & Co. from an “outperform” rating to an “inline” rating in a research report on Friday, May 2nd. Finally, BNP Paribas raised shares of Organon & Co. to a “strong-buy” rating in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $18.00.

Insider Activity

In other Organon & Co. news, CFO Matthew M. Walsh bought 11,400 shares of the stock in a transaction on Monday, May 5th. The stock was purchased at an average price of $8.82 per share, with a total value of $100,548.00. Following the acquisition, the chief financial officer now owns 144,484 shares of the company’s stock, valued at approximately $1,274,348.88. The trade was a 8.57% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kevin Ali bought 34,000 shares of the stock in a transaction on Monday, May 5th. The shares were acquired at an average cost of $8.80 per share, with a total value of $299,200.00. Following the acquisition, the chief executive officer now directly owns 282,731 shares in the company, valued at approximately $2,488,032.80. This trade represents a 13.67% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 102,345 shares of company stock worth $902,430. 1.96% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Organon & Co.

A number of hedge funds have recently bought and sold shares of OGN. WBI Investments LLC bought a new stake in shares of Organon & Co. during the 1st quarter worth $946,000. Belpointe Asset Management LLC bought a new stake in Organon & Co. in the 1st quarter valued at about $531,000. Focus Partners Wealth raised its stake in Organon & Co. by 33.2% in the 1st quarter. Focus Partners Wealth now owns 55,875 shares of the company’s stock valued at $832,000 after acquiring an additional 13,925 shares during the period. Ransom Advisory Ltd bought a new stake in Organon & Co. in the 1st quarter valued at about $32,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Organon & Co. by 2.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,042,991 shares of the company’s stock valued at $15,530,000 after acquiring an additional 26,640 shares during the period. 77.43% of the stock is owned by hedge funds and other institutional investors.

Organon & Co. Stock Down 0.1%

Shares of NYSE OGN opened at $9.22 on Tuesday. The company has a 50 day simple moving average of $10.81 and a 200 day simple moving average of $13.75. The firm has a market cap of $2.40 billion, a PE ratio of 2.77, a price-to-earnings-growth ratio of 0.90 and a beta of 0.75. Organon & Co. has a 1 year low of $8.01 and a 1 year high of $23.10. The company has a debt-to-equity ratio of 17.73, a current ratio of 1.70 and a quick ratio of 1.21.

Organon & Co. (NYSE:OGN) last announced its quarterly earnings data on Thursday, May 1st. The company reported $1.02 EPS for the quarter, topping the consensus estimate of $0.89 by $0.13. Organon & Co. had a net margin of 13.49% and a return on equity of 431.62%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter last year, the firm posted $1.22 EPS. The company’s quarterly revenue was down 6.7% on a year-over-year basis. On average, research analysts forecast that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Monday, May 12th will be issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Monday, May 12th. Organon & Co.’s dividend payout ratio is 2.78%.

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.