Organon & Co. (NYSE:OGN) Short Interest Up 28.2% in October

Organon & Co. (NYSE:OGN - Get Free Report) saw a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 12,530,000 shares, an increase of 28.2% from the September 30th total of 9,770,000 shares. Based on an average daily volume of 1,920,000 shares, the days-to-cover ratio is presently 6.5 days. Currently, 4.9% of the company's shares are sold short.

Institutional Trading of Organon & Co.

Several hedge funds have recently bought and sold shares of OGN. LSV Asset Management lifted its position in shares of Organon & Co. by 47.3% in the second quarter. LSV Asset Management now owns 6,610,768 shares of the company's stock valued at $136,843,000 after acquiring an additional 2,121,940 shares in the last quarter. Wedge Capital Management L L P NC bought a new position in Organon & Co. in the 2nd quarter worth approximately $33,573,000. Kahn Brothers Group Inc. raised its position in shares of Organon & Co. by 3,242.4% during the first quarter. Kahn Brothers Group Inc. now owns 1,180,204 shares of the company's stock valued at $22,188,000 after buying an additional 1,144,894 shares during the last quarter. Boston Partners purchased a new position in shares of Organon & Co. in the first quarter worth $19,306,000. Finally, AQR Capital Management LLC boosted its position in shares of Organon & Co. by 39.8% during the second quarter. AQR Capital Management LLC now owns 3,473,655 shares of the company's stock worth $71,905,000 after acquiring an additional 988,336 shares during the last quarter. Institutional investors own 77.43% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut shares of Organon & Co. from a "neutral" rating to an "underweight" rating and raised their target price for the stock from $18.00 to $20.00 in a report on Friday, September 6th. Evercore ISI raised shares of Organon & Co. to a "strong-buy" rating in a research report on Wednesday, September 18th.

Organon & Co. Stock Up 1.7 %

Shares of OGN traded up $0.29 during trading hours on Monday, hitting $17.46. The company had a trading volume of 1,557,365 shares, compared to its average volume of 2,160,608. The stock has a market capitalization of $4.49 billion, a price-to-earnings ratio of 4.47, a P/E/G ratio of 0.77 and a beta of 0.84. The firm has a fifty day moving average price of $19.70 and a 200-day moving average price of $20.12. Organon & Co. has a 52-week low of $10.84 and a 52-week high of $23.10. The company has a debt-to-equity ratio of 60.05, a quick ratio of 1.17 and a current ratio of 1.64.

Organon & Co. (NYSE:OGN - Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported $1.12 EPS for the quarter, topping analysts' consensus estimates of $1.08 by $0.04. The business had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.61 billion. Organon & Co. had a negative return on equity of 840.29% and a net margin of 15.76%. The company's quarterly revenue was down .1% compared to the same quarter last year. During the same quarter last year, the company earned $1.31 EPS. On average, equities research analysts forecast that Organon & Co. will post 4.04 EPS for the current fiscal year.

Organon & Co. Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Friday, August 16th were issued a $0.28 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.12 dividend on an annualized basis and a yield of 6.42%. Organon & Co.'s dividend payout ratio is currently 28.79%.

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.