Short Interest in Organon & Co. (NYSE:OGN) Declines By 17.6%

Organon & Co. (NYSE:OGN - Get Free Report) was the target of a large drop in short interest in March. As of March 31st, there was short interest totalling 15,130,000 shares, a drop of 17.6% from the March 15th total of 18,360,000 shares. Approximately 5.9% of the company's stock are short sold. Based on an average trading volume of 3,510,000 shares, the short-interest ratio is currently 4.3 days.

Organon & Co. Stock Performance

Organon & Co. stock traded up $0.06 during midday trading on Friday, hitting $12.18. 922,853 shares of the company's stock were exchanged, compared to its average volume of 2,702,612. The firm's 50 day simple moving average is $13.93 and its 200 day simple moving average is $15.22. Organon & Co. has a 12-month low of $10.45 and a 12-month high of $23.10. The company has a debt-to-equity ratio of 17.73, a quick ratio of 1.21 and a current ratio of 1.70. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of 3.65, a price-to-earnings-growth ratio of 0.90 and a beta of 0.73.

Organon & Co. (NYSE:OGN - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.83 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.92 by ($0.09). The company had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.57 billion. Organon & Co. had a return on equity of 431.62% and a net margin of 13.49%. Equities research analysts predict that Organon & Co. will post 3.68 EPS for the current year.

Organon & Co. Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Monday, February 24th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 9.20%. Organon & Co.'s payout ratio is 33.63%.

Institutional Investors Weigh In On Organon & Co.

A number of institutional investors and hedge funds have recently modified their holdings of the company. Kendall Capital Management increased its holdings in Organon & Co. by 11.3% during the 1st quarter. Kendall Capital Management now owns 64,020 shares of the company's stock valued at $953,000 after acquiring an additional 6,475 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Organon & Co. during the 1st quarter valued at $60,000. Philip James Wealth Mangement LLC lifted its stake in shares of Organon & Co. by 1.7% in the 1st quarter. Philip James Wealth Mangement LLC now owns 885,305 shares of the company's stock valued at $13,182,000 after purchasing an additional 14,702 shares in the last quarter. Illinois Municipal Retirement Fund raised its holdings in Organon & Co. by 48.5% in the first quarter. Illinois Municipal Retirement Fund now owns 205,508 shares of the company's stock valued at $3,060,000 after buying an additional 67,141 shares during the period. Finally, Sequoia Financial Advisors LLC raised its stake in shares of Organon & Co. by 42.2% in the 1st quarter. Sequoia Financial Advisors LLC now owns 19,392 shares of the company's stock valued at $289,000 after acquiring an additional 5,758 shares during the period. Institutional investors and hedge funds own 77.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on OGN shares. Morgan Stanley lowered their price target on Organon & Co. from $16.00 to $15.00 and set an "equal weight" rating for the company in a report on Wednesday, April 9th. TD Cowen upgraded shares of Organon & Co. to a "hold" rating in a report on Wednesday, January 15th. Finally, Barclays dropped their target price on shares of Organon & Co. from $26.00 to $24.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Organon & Co. has a consensus rating of "Hold" and a consensus target price of $20.60.

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.