Organon & Co. (NYSE:OGN) Stock Price Down 4.4% – Here’s What Happened

Shares of Organon & Co. (NYSE:OGN) were down 4.4% during trading on Monday . The stock traded as low as $17.21 and last traded at $17.28. Approximately 354,409 shares traded hands during trading, a decline of 84% from the average daily volume of 2,173,754 shares. The stock had previously closed at $18.07.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. lowered shares of Organon & Co. from a “neutral” rating to an “underweight” rating and lifted their price target for the company from $18.00 to $20.00 in a report on Friday, September 6th. Evercore ISI upgraded Organon & Co. to a “strong-buy” rating in a report on Wednesday, September 18th.

Organon & Co. Trading Down 6.5 %

The firm has a market cap of $4.35 billion, a price-to-earnings ratio of 3.35, a price-to-earnings-growth ratio of 0.85 and a beta of 0.84. The company has a quick ratio of 1.17, a current ratio of 1.64 and a debt-to-equity ratio of 60.05. The business has a 50 day moving average price of $19.38 and a 200-day moving average price of $20.13.

Organon & Co. (NYSE:OGN) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.03). The firm had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Organon & Co. had a net margin of 20.30% and a return on equity of 2,437.43%. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.78 EPS. As a group, research analysts expect that Organon & Co. will post 4.04 EPS for the current fiscal year.

Organon & Co. Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.63%. The ex-dividend date of this dividend is Tuesday, November 12th. Organon & Co.’s payout ratio is 22.22%.

Hedge Funds Weigh In On Organon & Co.

Institutional investors and hedge funds have recently made changes to their positions in the business. Susquehanna Fundamental Investments LLC bought a new position in Organon & Co. during the 1st quarter valued at $6,284,000. Friedenthal Financial bought a new stake in Organon & Co. in the second quarter valued at about $769,000. Vanguard Group Inc. raised its stake in Organon & Co. by 0.6% during the first quarter. Vanguard Group Inc. now owns 30,789,850 shares of the company’s stock valued at $578,849,000 after buying an additional 192,613 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in Organon & Co. by 23.9% during the first quarter. Janney Montgomery Scott LLC now owns 263,051 shares of the company’s stock valued at $4,945,000 after buying an additional 50,788 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its holdings in Organon & Co. by 8.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 565,866 shares of the company’s stock worth $11,713,000 after buying an additional 41,954 shares during the last quarter. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

About Organon & Co.

Organon & Co develops and delivers health solutions through a portfolio of prescription therapies and medical devices within women's health in the United States and internationally. Its women's health portfolio comprises contraception and fertility brands, such as Nexplanon, a long-acting reversible contraceptive; NuvaRing, a monthly vaginal contraceptive ring; Cerazette, a daily pill used to prevent pregnancy; Marvelon, progestin and estrogen used as daily pills to prevent pregnancy; Follistim AQ, used to promote the development of multiple ovarian follicles in assisted reproduction technology procedures; Elonva, an ovarian follicle stimulant; Ganirelix Acetate Injection, an injectable antagonist; and Jada, for abnormal postpartum uterine bleeding or hemorrhage.