Organon & Co. (NYSE:OGN) Shares Gap Up After Dividend Announcement

Organon & Co. (NYSE:OGN - Get Free Report)'s share price gapped up before the market opened on Thursday after the company announced a dividend. The stock had previously closed at $14.70, but opened at $15.74. Organon & Co. shares last traded at $16.45, with a volume of 1,169,714 shares trading hands.

The newly announced dividend which will be paid on Thursday, March 13th. Investors of record on Monday, February 24th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 7.32%. The ex-dividend date is Monday, February 24th. Organon & Co.'s payout ratio is presently 22.22%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on OGN. TD Cowen raised Organon & Co. to a "hold" rating in a report on Wednesday, January 15th. Barclays reduced their target price on Organon & Co. from $26.00 to $24.00 and set an "overweight" rating on the stock in a report on Friday. Finally, Morgan Stanley decreased their target price on Organon & Co. from $17.00 to $16.00 and set an "equal weight" rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $20.80.

Organon & Co. Trading Down 6.3 %

The firm has a market cap of $3.94 billion, a price-to-earnings ratio of 3.03, a P/E/G ratio of 0.83 and a beta of 0.76. The business has a 50-day moving average of $15.35 and a 200-day moving average of $17.42. 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 - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.09). Organon & Co. had a net margin of 20.30% and a return on equity of 644.70%. The business had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.57 billion. Research analysts anticipate that Organon & Co. will post 3.82 EPS for the current year.

Institutional Investors Weigh In On Organon & Co.

A number of institutional investors have recently made changes to their positions in OGN. Barclays PLC lifted its holdings in Organon & Co. by 238.0% during the 3rd quarter. Barclays PLC now owns 119,483 shares of the company's stock worth $2,285,000 after purchasing an additional 84,136 shares during the last quarter. Weiss Asset Management LP bought a new position in Organon & Co. during the 3rd quarter worth $32,966,000. Cerity Partners LLC lifted its holdings in shares of Organon & Co. by 94.0% during the third quarter. Cerity Partners LLC now owns 667,340 shares of the company's stock worth $12,766,000 after buying an additional 323,308 shares in the last quarter. Foundry Partners LLC bought a new stake in shares of Organon & Co. in the third quarter valued at about $7,642,000. Finally, Beddow Capital Management Inc. grew its stake in shares of Organon & Co. by 38.8% in the third quarter. Beddow Capital Management Inc. now owns 306,675 shares of the company's stock valued at $5,867,000 after acquiring an additional 85,775 shares in the last quarter. Institutional investors own 77.43% of the company's stock.

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.