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

Organon & Co. (NYSE:OGN) saw a significant growth in short interest during the month of October. As of October 15th, there was short interest totalling 12,530,000 shares, a growth 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 currently 6.5 days. Currently, 4.9% of the company’s shares are short sold.

Analyst Ratings Changes

Several research firms recently issued reports on OGN. Evercore ISI raised Organon & Co. to a “strong-buy” rating in a research note on Wednesday, September 18th. JPMorgan Chase & Co. lowered shares of Organon & Co. from a “neutral” rating to an “underweight” rating and raised their price objective for the stock from $18.00 to $20.00 in a report on Friday, September 6th.

Hedge Funds Weigh In On Organon & Co.

Large investors have recently made changes to their positions in the business. Susquehanna Fundamental Investments LLC purchased a new position in shares of Organon & Co. during the first quarter valued at approximately $6,284,000. Friedenthal Financial purchased a new position in shares of Organon & Co. during the second quarter valued at approximately $769,000. Vanguard Group Inc. lifted its holdings in shares of Organon & Co. by 0.6% during the first quarter. Vanguard Group Inc. now owns 30,789,850 shares of the company’s stock valued at $578,849,000 after purchasing an additional 192,613 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in Organon & Co. by 23.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 263,051 shares of the company’s stock worth $4,945,000 after acquiring an additional 50,788 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its holdings in Organon & Co. by 8.0% in the 2nd quarter. Public Sector Pension Investment Board now owns 565,866 shares of the company’s stock worth $11,713,000 after acquiring an additional 41,954 shares during the last quarter. 77.43% of the stock is currently owned by hedge funds and other institutional investors.

Organon & Co. Stock Performance

Shares of OGN opened at $17.16 on Monday. The company has a debt-to-equity ratio of 60.05, a current ratio of 1.64 and a quick ratio of 1.17. Organon & Co. has a one year low of $10.84 and a one year high of $23.10. The company has a 50-day simple moving average of $19.70 and a two-hundred day simple moving average of $20.12. The firm has a market capitalization of $4.41 billion, a PE ratio of 4.20, a price-to-earnings-growth ratio of 0.77 and a beta of 0.84.

Organon & Co. (NYSE:OGN) last released its earnings results on Tuesday, August 6th. The company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.04. Organon & Co. had a net margin of 15.76% and a negative return on equity of 840.29%. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same period last year, the business earned $1.31 earnings per share. The business’s revenue was down .1% on a year-over-year basis. On average, analysts anticipate that Organon & Co. will post 4.12 EPS for the current fiscal year.

Organon & Co. Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Friday, August 16th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $1.12 annualized dividend and a dividend yield of 6.53%. Organon & Co.’s payout ratio is 27.38%.

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.