Organon & Co. (NYSE:OGN) Trading Down 3.8% – Here’s Why

Shares of Organon & Co. (NYSE:OGN) dropped 3.8% during trading on Monday . The stock traded as low as $14.65 and last traded at $14.72. Approximately 1,048,407 shares were traded during trading, a decline of 54% from the average daily volume of 2,296,159 shares. The stock had previously closed at $15.30.

Wall Street Analysts Forecast Growth

OGN has been the topic of a number of analyst reports. Evercore ISI upgraded shares of Organon & Co. to a “strong-buy” rating in a research report on Wednesday, September 18th. JPMorgan Chase & Co. downgraded Organon & Co. from a “neutral” rating to an “underweight” rating and lifted their price objective for the stock from $18.00 to $20.00 in a report on Friday, September 6th.

Organon & Co. Price Performance

The company has a quick ratio of 1.21, a current ratio of 1.70 and a debt-to-equity ratio of 17.73. The firm’s fifty day moving average price is $16.33 and its 200-day moving average price is $19.08. The stock has a market cap of $3.80 billion, a P/E ratio of 2.93, a PEG ratio of 0.81 and a beta of 0.75.

Organon & Co. (NYSE:OGN) last announced its quarterly earnings results 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). Organon & Co. had a return on equity of 644.70% and a net margin of 20.30%. The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.56 billion. During the same period last year, the business earned $0.78 EPS. Organon & Co.’s revenue was up 4.1% on a year-over-year basis. Analysts forecast that Organon & Co. will post 3.89 earnings per share for the current year.

Organon & Co. Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Tuesday, November 12th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $1.12 dividend on an annualized basis and a yield of 7.58%. Organon & Co.’s dividend payout ratio is presently 22.22%.

Institutional Investors Weigh In On Organon & Co.

Several institutional investors and hedge funds have recently bought and sold shares of the business. Garden State Investment Advisory Services LLC bought a new position in Organon & Co. in the 3rd quarter worth $203,000. Franklin Resources Inc. increased its position in shares of Organon & Co. by 3.9% during the third quarter. Franklin Resources Inc. now owns 344,138 shares of the company’s stock valued at $6,229,000 after buying an additional 13,029 shares during the period. Tidal Investments LLC raised its stake in Organon & Co. by 10.6% in the third quarter. Tidal Investments LLC now owns 76,525 shares of the company’s stock worth $1,464,000 after buying an additional 7,330 shares in the last quarter. Optimist Retirement Group LLC purchased a new stake in Organon & Co. in the third quarter worth about $1,974,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Organon & Co. in the third quarter worth about $185,000. Hedge funds and other institutional investors own 77.43% of the company’s stock.

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.