Organon & Co. (NYSE:OGN) Shares Gap Up – Time to Buy?

Organon & Co. (NYSE:OGN) gapped up before the market opened on Friday . The stock had previously closed at $6.91, but opened at $8.01. Organon & Co. shares last traded at $8.4760, with a volume of 9,579,895 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have issued reports on OGN. Barclays upped their price objective on Organon & Co. from $7.50 to $8.00 and gave the company an “underweight” rating in a research note on Tuesday, February 24th. Wall Street Zen cut Organon & Co. from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, Zacks Research cut Organon & Co. from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, Organon & Co. presently has an average rating of “Reduce” and an average target price of $8.50.

Organon & Co. Price Performance

The company has a current ratio of 1.82, a quick ratio of 1.23 and a debt-to-equity ratio of 11.47. The business has a 50-day moving average price of $6.93 and a two-hundred day moving average price of $7.74. The firm has a market capitalization of $2.31 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 0.81 and a beta of 0.67.

Organon & Co. (NYSE:OGN) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.63 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.10). The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.52 billion. Organon & Co. had a return on equity of 122.01% and a net margin of 3.01%.The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.90 earnings per share. As a group, research analysts forecast that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Monday, February 23rd were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Monday, February 23rd. Organon & Co.’s dividend payout ratio is presently 11.27%.

Institutional Trading of Organon & Co.

A number of institutional investors and hedge funds have recently made changes to their positions in OGN. AQR Capital Management LLC raised its position in shares of Organon & Co. by 105.2% during the 4th quarter. AQR Capital Management LLC now owns 8,570,958 shares of the company’s stock worth $61,282,000 after purchasing an additional 4,394,814 shares during the period. Vanguard Group Inc. increased its position in Organon & Co. by 11.3% in the 3rd quarter. Vanguard Group Inc. now owns 35,928,403 shares of the company’s stock valued at $383,715,000 after acquiring an additional 3,650,860 shares during the period. UBS Group AG increased its position in Organon & Co. by 55.2% in the 4th quarter. UBS Group AG now owns 4,295,002 shares of the company’s stock valued at $30,795,000 after acquiring an additional 1,527,492 shares during the period. Private Management Group Inc. increased its position in Organon & Co. by 38.3% in the 4th quarter. Private Management Group Inc. now owns 4,347,073 shares of the company’s stock valued at $31,169,000 after acquiring an additional 1,204,979 shares during the period. Finally, Balyasny Asset Management L.P. increased its position in Organon & Co. by 102.1% in the 3rd quarter. Balyasny Asset Management L.P. now owns 2,240,149 shares of the company’s stock valued at $23,925,000 after acquiring an additional 1,131,941 shares during the period. 77.43% of the stock is currently 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.