Organon & Co. (NYSE:OGN) Sees Large Increase in Short Interest

Organon & Co. (NYSE:OGN) was the target of a large increase in short interest during 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. Approximately 4.9% of the company’s shares are sold short. Based on an average daily trading volume, of 1,920,000 shares, the short-interest ratio is currently 6.5 days.

Hedge Funds Weigh In On Organon & Co.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in OGN. LSV Asset Management boosted its position in Organon & Co. by 47.3% in the 2nd quarter. LSV Asset Management now owns 6,610,768 shares of the company’s stock valued at $136,843,000 after buying an additional 2,121,940 shares during the last quarter. Wedge Capital Management L L P NC purchased a new position in Organon & Co. in the 2nd quarter valued at about $33,573,000. Kahn Brothers Group Inc. boosted its position in Organon & Co. by 3,242.4% in the 1st 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 acquired a new stake in shares of Organon & Co. in the 1st quarter valued at about $19,306,000. Finally, AQR Capital Management LLC raised its stake in shares of Organon & Co. by 39.8% in the 2nd quarter. AQR Capital Management LLC now owns 3,473,655 shares of the company’s stock valued at $71,905,000 after purchasing an additional 988,336 shares in the last quarter. 77.43% of the stock is owned by hedge funds and other institutional investors.

Organon & Co. Stock Up 0.4 %

Organon & Co. stock traded up $0.06 during trading on Wednesday, reaching $17.92. 3,345,168 shares of the company’s stock were exchanged, compared to its average volume of 2,170,751. The company’s 50-day moving average is $19.51 and its two-hundred day moving average is $20.10. 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. has a 52-week low of $10.84 and a 52-week high of $23.10. The firm has a market cap of $4.61 billion, a price-to-earnings ratio of 4.61, a PEG ratio of 0.77 and a beta of 0.84.

Organon & Co. (NYSE:OGN) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.04. The firm had revenue of $1.61 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Organon & Co. had a net margin of 15.76% and a negative return on equity of 840.29%. The firm’s revenue was down .1% on a year-over-year basis. During the same period in the prior year, the company earned $1.31 EPS. On average, analysts predict that Organon & Co. will post 4.04 earnings per share for the current year.

Organon & Co. Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Friday, August 16th were given 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 6.25%. Organon & Co.’s payout ratio is currently 28.79%.

Analyst Ratings Changes

A number of analysts have recently commented on OGN shares. JPMorgan Chase & Co. downgraded Organon & Co. from a “neutral” rating to an “underweight” rating and upped their price objective 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. Company Profile

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.